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CBH Group Media Releases & Corporate News  CBH acquires the activities of FIBI Bank (Switzerland)

CBH acquires the activities of FIBI Bank (Switzerland)

CBH Bank is pleased to introduce the latest addition to the Helveticard family of cards: the Visa Virtual Card. Developed entirely by CBH’s product development team as part of the Bank’s ongoing digitalization strategy, the card is now available on CBH Online Banking.

The new Virtual Card offers an environmentally friendly and secure payment method. The immaterial nature of a virtual card means it cannot be stolen or misplaced, and all production and delivery emissions are avoided. In addition, the card is instantly available for order, can be loaded and used straightaway online and in-store, and can be linked to any of your favorite e-wallets.

Find out more on our Payment Cards page  https://cbhbank.com/en/international/banking-solutions/payment-cards/CBH Compagnie Bancaire Helvétique SA acquires the international wealth management business of FIBI Bank (Switzerland) Ltd.

Geneva and Zurich, 19 December 2016 – CBH Compagnie Bancaire Helvétique SA (« CBH Bank ») is pleased to announce the acquisition of the private banking activities of FIBI Bank (Switzerland) Ltd (« FIBI Bank ») which is headquartered in Zurich. The transaction covers all of FIBI Bank clients.

The common values and approaches of the two banks will ensure the continuity of the high level of service and the proximity which FIBI Bank clients enjoy. CBH Compagnie Bancaire Helvétique views the transaction as an excellent strategic and geographic fit and as a further step towards the acceleration of its expansion in its growth markets.

“This latest acquisition allows us to significantly reinforce our activities, in particular from our branch in Zurich and our representative office in Tel Aviv. We look forward to welcoming our new team whose expertise in wealth management will complement our own” says Philippe Cordonier, Chief Executive Officer of CBH Compagnie Bancaire Helvétique.

In 2014, CBH Bank acquired the private banking activities of Banque Privée Espírito Santo and, in 2016, TTG (HK) Limited, a wealth management firm based in Hong Kong. This new acquisition is an important step in the growth strategy of CBH Bank. The tier one capital ratio will remain above 22% after this transaction.

The deal should be finalized in the course of the first quarter 2017.