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After a comprehensive review of Schroders' services to Eastern European customers, the company concluded that the relevant customers are better served by a specialized bank in this geographic region. With the transaction, the CBH acquirer pursues one of its strategic priorities: growth through targeted acquisitions in its core markets. CBH has many years of experience in managing and advising clients from Eastern Europe. Currently managed client assets amount to approximately CHF 700 million (as of June 30, 2018).
The financial terms of the acquisition will not be disclosed. The transaction will not affect the strength of CBH. Even after the completion of the transaction, the bank will have one of the highest capital base ratios among Swiss private banks, currently above 30%. Recently, CBH Bank strengthened its presence in Zurich by acquiring the Zurich Private Banking activities of FIBI Bank (Switzerland) (2017) and Espirito Santo Private Bank (2014).
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