February 23, 2017 / 6:52 AM / 7 months ago

BRIEF-Cembra FY 2016 net revenues up by 1 pct to CHF 394.0 mln

Feb 23 (Reuters) - Cembra Money Bank AG:

* Achieved in 2016 a net income of 143.7 million Swiss Francs ($142.23 million) or 5.10 Swiss Francs earnings per share

* A total dividend distribution of 4.45 francs will be proposed to the general meeting including an extraordinary dividend of 1.00 franc

* 2016 net revenues increased by 1 percent to 394.0 million francs compared to 388.7 million francs in 2015

* 2016 net interest income, which accounts for 76  percent of net revenues, declined 1 percent to 297.7 million francs, translating into a net interest margin of 7.2 percent

* 2017 net revenue is expected to slightly decrease due to the reduction in net interest income, following the introduction of the rate caps in July 2016

* 2017 net revenue decrease is expected to be partially offset by increase in fee and commission income on the back of the continued growth of the credit card business

* FY loss performance is expected to be in line with prior years

* Is expecting earnings per share of between 4.70 francs and 5.00 francs for the financial year of 2017 Source text for Eikon:

Further company coverage: ($1 = 1.0103 Swiss francs) (Gdynia Newsroom)

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