Helvetia Integrates Moneypark Distribution – High Value Adjustment
Published: Tuesday, Sep 5th 2023, 06:40
تم التحديث في: الجمعة، 13 أكتوبر 2023، الساعة 14:12:14
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Helvetia and its mortgage and real estate broker Moneypark have announced plans to merge their sales operations in order to save costs. The merger is expected to generate cost synergies of 6 to 8 million Swiss francs by 2024, but will also lead to a reduction of 25 to 30 support positions. Helvetia will also record a write-down of around 27 million francs in its half-yearly results due to its stake in Moneypark. The two customer platforms, Helvetia Immoworld and Moneypark, will be merged, but services will still be provided under the Moneypark brand in Moneypark Flagship Stores in Zurich, Lausanne and Geneva, as well as through Moneypark Shop-in-Shops in Helvetia's general agencies. The aim of the merger is to better exploit the existing potential, with the annual mortgage volume of over 3 billion francs expected to be significantly increased over the next five years.nnnnnnnnnnnnnnnnnnnn
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