Added to YB: 2026-06-05
Pitch date: 2026-04-08
CMBN.SW [bearish]
Cembra Money Bank AG
+4.53%
current return
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
CHF 94.48
Price Target
63.00 (-30%)
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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