Added to YB: 2026-06-05
Pitch date: 2026-04-08
CMBN.SW [bearish]
Cembra Money Bank AG
Author Info
No bio for this author
Company Info
Cembra Money Bank AG provides consumer finance products and services in Switzerland. The company offers savings and deposit products; cash and personal loans, and auto loans and leasing products; credit card and invoice financing receivables; leasing services for new and used vehicles, including cars, light commercial vehicles, motorcycles, and caravans, as well as corporate leasing services; and investment securities comprising debt securities.
Market Cap
CHF 2.7B
Pitch Price
N/A
Price Target
63.00
Dividend
4.54%
EV/EBITDA
N/A
P/E
15.34
EV/Sales
N/A
Sector
Consumer Finance
Category
N/A
Cembra Money Bank AG - $CMBN.SW (short)
CMBN.SW (short): Swiss consumer lender masking credit deterioration via accounting changes (write-offs extended 120-180d to 360d, recoveries added), inflating FY25 EPS 12%; NPL coverage collapsed 303%→136%. Industry maturity, rate cap cuts (160bps 2026 headwind), falling auto residuals. Goeasy parallel: extend now, recognize later. CHF6.30 EPS power at 10x = 37% downside vs 8% bull upside. Catalysts: 2026 ROE/earnings misses, higher provisions.
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