Cembra Money Bank Ag · SIX:CMBN
Cembra Money Bank — FY2025 Earnings Presentation
32 slides from Cembra Money Bank's earnings presentation, Feb 19, 2026
Slide 1: FY 2025 results
FY 2025 results Holger Laubenthal, CEO Pascal Perritaz, CFO Volker Gloe, CRO 19 February 2026
Slide 2: Key messages
Key messages Disciplined strategy execution delivers further net income increase of 5% 1 Transformation progressing as planned, with clear focus on customer value, portfolio quality and efficiency 2 Structural cost savings (CHF 19 million) lead to a significantly improved cost/income ratio 3 Net int
Slide 3: Agenda
Agenda 1. 2025 highlights Holger Laubenthal 2. FY 2025 financial results Pascal Perritaz, Volker Gloe 3. Strategy execution and outlook Holger Laubenthal Appendix 3 19 February 2026 Full-year 2025 results C e m bra
Slide 4: FY 2025 performance
2025 highlights FY 2025 performance Net income +5%, and H2 cost/income ratio <43% Highlights Net income Net financing receivables Net revenues in CHF m in CHF m in CHF m • Net income +5% to CHF 179.6 million +5% Net interest income -1% Commission and fees • Net revenues and net financing -2% receiva
Slide 5: Products and markets
2025 highlights Products and markets Focus on profitable growth Lending Payments Personal loans Auto loans and leases Credit cards Buy now pay later (BNPL) • Disciplined underwriting and • Focus on net interest margin • Card assets +1% • Financing volume +4% pricing • Net financing receivables • Car
Slide 6: Operational highlights 2025
2025 highlights Operational highlights 2025 Continued progress in H2 Business transformation Auto platform Cembra app Cards loyalty programme • Transformed regional network into • >45% faster process time • 600k+ enrolled users • Launched a new Certo! Loyalty 5 full-service, cross-product hubs compa
Slide 7: Agenda
Agenda 1. 2025 highlights Holger Laubenthal 2. FY 2025 financial results Pascal Perritaz, Volker Gloe 3. Strategy execution and outlook Holger Laubenthal Appendix 7 19 February 2026 Full-year 2025 results C e m bra
Slide 8: P&L
FY 2025 financial results P&L Increase in net income from lower OPEX and continued strong risk performance In CHF m 2025 2024 as % Interest income 464.5 485.7 -4 Comments Interest expense -92.3 -105.3 -12 1 Lower interest income following the 4 BNPL fees flat as a result of continued Net interest in
Slide 9: Net financing receivables and yield development
FY 2025 financial results Net financing receivables and yield development Risk-adjusted pricing measures favourably impacting yield In CHF m Net financing receivables Personal loans Auto leases and loans Credit cards Net financing receivables Net financing receivables Net financing receivables -1% +
Slide 10: Provision for losses
FY 2025 financial results Provision for losses Continued solid loss performance Loss rate1 NPL2 and delinquencies as % Metric Dec’24 Dec’25 NPL development 4% 1.1 1.1 1.1 1.1 1.1 30+ days past due 2.7% 3.6% 1.0 reported 0.9 Lending 0.8 0.8 Non-performing loans 1.2% 1.9% 3% adjusted3 0.6 0.6 30+ days
Slide 11: Operating expenses
FY 2025 financial results Operating expenses Diligent cost management with cost/income at 45.2% (H2 2025: 42.9%) In CHF m FY 2025 FY 2024 as % Comments Compensation and benefits 1 121.1 134.8 -10 1 Decrease driven by full-year impact of 4 Increase following the successful launch Professional service
Slide 12: Operating expenses trend
FY 2025 financial results Operating expenses trend Further efficiency gains expected to drive continued cost/income ratio reduction Group employees (FTE) Operating expenses As per 31 December CHF m Nearshoring Switzerland 263 265 - 15-20 million -17% 245 1,000 929 902 812 800 773 600 400 Personnel (
Slide 13: Balance sheet
FY 2025 financial results Balance sheet Net financing receivables -0.6% In CHF m Assets 31.12.25 31.12.24 as % Comments Cash and equivalents 781 793 -2 1 Trends in net financing receivables: 2 Growth in retail deposits and launch of Financing receivables1 6,755 6,783 0 ▪ Personal loans -6% reflectin
Slide 14: Funding
FY 2025 financial results Funding Further diversified, with retail funding growing Funding mix Funding instruments In CHF m1 6,429 6,503 6,394 150 250 150 150 AT1 subordinated One issuance with perpetual term at 2.9566%1 250 250 Non-deposits – 44% 2,230 2,080 1,830 Convertible bond One issuance, rem
Slide 15: Capital position
FY 2025 financial results Capital position Strong Tier 1 capital ratio of 17.6% and attractive dividend policy Tier 1 capital walk Risk-weighted assets (RWA) In CHF m In CHF m 194 11 6,262 17.9% 17.6% 180 -31 6,088 1,091 1,102 -135 -29 -5 31.12.2024 Impact from Impact from Impact from 31 Dec 2025 31
Slide 16: Agenda
Agenda 1. 2025 highlights Holger Laubenthal 2. FY 2025 financial results Pascal Perritaz, Volker Gloe 3. Strategy execution and outlook Holger Laubenthal Appendix 16 19 February 2026 Full-year 2025 results C e m bra
Slide 17: Review strategy execution
Strategy execution and outlook Review strategy execution Continued progress in 2025 Strategic initiatives 2025 Financial targets achievement ✓ Disciplined risk management through the cycle KPI Targets 2022-261 2025 20222-25 Cembra’s ✓ Launched auto covered bond DNA ✓ ISS Corporate ESG Rating upgrade
Slide 18: Outlook
Strategy execution and outlook Outlook Further leverage momentum to achieve 2026 targets Priorities for 20261 Financial targets2 and outlook for 2026 ROE Tier 1 capital ratio Dividend per share Cembra’s • Continuously calibrate risk/volume/price for DNA sustainable profitability focus 2026: around 1
Slide 19: Agenda
Agenda 1. 2025 highlights Holger Laubenthal 2. FY 2025 financial results Pascal Perritaz, Volker Gloe 3. Strategy execution and outlook Holger Laubenthal Appendix 19 19 February 2026 Full-year 2025 results C e m bra
Slide 20: Macroeconomic outlook
Appendix Macroeconomic outlook Swiss economy expected to remain resilient GDP in Switzerland Swiss vs. Eurozone CPI Inflation Swiss Franc interest rates Swiss unemployment rate Change vs. previous period as % End-of-period 3-year swap rates as % As %, average per year 10 3.0 2.9 8.4 8 Switzerland 2.
Slide 21: Market positions
Appendix Market positions Serving >2 million customers across the business lines Lending and Payments Lending Payments Personal loans: 35% market share Auto business: 18% market share Credit cards: 12% market share BNPL: 30-40% market share 31 December 2025, personal loans market 31 December 2025, l
Slide 22: Strategic programmes
Appendix Strategy 2022 – 20261 Reimagining Cembra Key messages Strategic ambition We will leverage technology to deliver the most intuitive customer solutions in consumer finance Cembra’s We will draw on the strengths of our world-class credit factory and our leadership Core DNA in selected markets
Slide 23: Segment results
Appendix Segment results In CHF m FY 2025 Lending as % Payments as % Group Comments Year-on-year Year-on-year 1 Lending net income at CHF 113.5 million (+15%), supported by Interest income 359.6 -3 104.9 -7 464.5 stable net revenues (+0%), a reduction in provisions for losses (-13%) and lower operat
Slide 24: Profitability by source
Appendix Profitability by source Strong increase of return on financing receivables Return on financing receivables 2.3% 2.5% 2.7% + Net revenues Net interest income 5.1% 5.6% 5.5% Commission and fees 2.5% 2.5% 2.5% Provision for losses -0.8% -1.1% -1.1% Costs - Operating expense -3.9% -3.9% -3.6% T
Slide 25: Dividends
Appendix Dividends Dividends CHF per share Extraordinary dividend from excess capital 5.60 4.45 4.60 4.25 3.75 3.75 3.75 3.85 3.95 4.00 • 69% average payout ratio since 3.45 3.55 the IPO 3.35 3.10 2.85 • Dividend for 2025 of at least CHF 4.60 64 66 66 68 69 68 72 70 68 73 75 Pay-out 69 74 ratio as %
Slide 26: Sustainability
Appendix Sustainability Strong external recognition, and commitment to further improve Sustainability performance Selected targets External recognition • In 2025, successfully achieved scope 1+2 Reduce Scope 1+2 emissions by Low ESG risk emissions reduction target by 75% (basis 75% by 2025 (basis: 2
Slide 27: History
Appendix History Foundation –“Banque Launched credit Launched First public IPO at SIX Launched eny Finance Launched Updated Acquisition Rolled out commerciale et agricole cards through savings Auto ABS Swiss FNAC cards transaction IKEA cards strategy of Byjuno partner- E. Uldry & Cie” in Fribourg Mi
Slide 28: Glossary of key figures
Appendix Glossary of key figures including alternative performance measures To measure its performance, Cembra uses some key figures that are not defined under US GAAP. This glossary provides definitions of alternative performance measures (APM) and other key figures Key figures (including APM) Defi
Slide 29: Key figures over 10 years
Appendix Key figures over 10 years US GAAP 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Net revenues (CHF m) 394 396 439 480 497 487 509 516 550 542 Net income (CHF m) 144 145 154 159 153 161 169 158 170 180 Cost/income ratio (%) 42.5 42.4 44.0 48.3 49.8 50.6% 50.6% 50.9% 48.1% 45.2% Net fin re
Slide 30: The Cembra share
Appendix The Cembra share Shareholder structure Institutional owners by domicile1 Based on nominal share capital of CHF 30m, as % Others Own shares UK 7% 2% ~18,000 registered 8% 22% private shareholders EU 10% 55% Switzerland 20% 76% US incl. CND ~1,100 institutional investors Main investors and in
Slide 31: Cautionary statement regarding forward-looking statements
Appendix Cautionary statement regarding forward-looking statements This presentation by Cembra Money Bank AG (“the Group”) includes forward-looking statements that reflect the Group’s intentions, beliefs or current expectations and projections about the Group’s future results of operations, financia
Slide 32: Calendar and further information
Calendar and further information Visit us at www.cembra.ch/investors Corporate events Investor conferences, roadshows and calls 19 February 2026 Full-year results 2025 20 February 2026 Roadshow Zurich 19 March 2026 Annual Report 2025 25 February 2026 Roadshow Geneva 24 April 2026 Annual General Meet