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Helvetia announced on Tuesday that by pooling resources, cost synergies of CHF 6 to 8 million can be achieved from 2024. However, the merger will likely result in 25 to 30 reductions in support functions. Helvetia will also report an impairment of approximately CHF 27 million on its participation in Moneypark in its half-year results.
Specifically, the two end customer platforms Helvetia Immoworld and Moneypark will be merged. However, under the Moneypark brand, services will continue to be provided both in Moneypark flagship stores in Zurich, Lausanne and Geneva, as well as in Moneypark in-store stores in Helvetia general agencies.
The purpose of the merger is to make better use of the existing potential. The volume of mortgages brokered annually, currently over 3 billion francs, will be “significantly” expanded over the next five years, according to the announcement.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
