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This investigation relates to activities that occurred in 2011 and earlier which led, among others, to the termination of the business cooperation with this agent. As part of immediate actions taken at that time, an internal investigation was conducted and revealed this case as singular and the business contributions of that former agent were not significant to the financial results of the bank.
Cembra Money Bank firmly refutes recent media allegations related to its credit agent business. These media reports have apparently been published in connection with a pending civil litigation initiated by the former agent. Cembra Money Bank is convinced that the claim of the former agent lacks proper legal basis and, hence, is without merit.
With respect to the ongoing FINMA investigation as well as the civil litigation, Cembra Money Bank does not intend to release any further comments for the time being.
Contacts
Media:
Brigitte Kaps; +41 44 439 8194; brigitte.kaps@cembra.ch
Investor Relations:
Christian Waelti; +41 44 439 8572; christian.waelti@cembra.ch
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