18 March 2015
- Yesterday, the Annual General Meeting approved the 2014 results with a profit of 54.5 million
- Cecabank has closed 2014 with a solvency ratio of 26.53%
- Julia Salaverría joins the Board of Directors as Non-executive Director (independent)
Yesterday, Cecabank held its General Shareholders' Meeting. The shareholders approved the management report and the results for 2014. They also approved all the proposals made by the Board of Directors. The year 2014 was notable for achieving a solvency ratio of 26.53%.
In 2014, the financial institution, chaired by Antonio Massanell, posted an attributable profit of 54.5 million euros. The year ended with €794.8 million in equity (almost 100% in the top category). It also had a solvency ratio (CET1) of 26.53%, 1.73 percentage points up on the previous year.
The General Meeting agreed the incorporation of Julia Salaverría, Chairman of the Board of Directors of Ysios Capital Partners, a venture capital management company, as an independent director. Salaverría holds a degree in Economics and Business Studies from the Universidad Autónoma de Madrid and an Executive MBA from the University of Deusto.
With the addition of Salaverría, the Board of Directors gains diversity, through the presence of independent directors.
Equator of the 2013-2016 Strategic Plan
In the last financial year, Cecabank arrived at the halfway point of its Strategic plan 2013-2016. Cecabank is a wholesale bank that structures its activity over three main lines of business: Securities Services (securities custody and settlement, depositary of collective investment institutions and pension funds). The Treasury branch (operations in the main national and international markets, public and private fixed-income, foreign exchange, equities and derivatives). And Banking Services (provision of outsourced business services to retail financial institutions).
Within Securities Services, the line of business that grew the most in 2014 was depositary services. Assets of €64.5 billion were deposited during the year. These correspond to 868 collective investment institutions and pension funds. Cecabank provides custody and depositary services for 19 management companies.
Cecabank has the Certification of the AENOR Quality Management System ISO 9001:2008 for the Depository, Settlement and Custody of Securities. It has the same certification for the Exchange, Clearing and Settlement of Payables and Receivables. These certifications confirm the commitment of Cecabank to quality in the service rendered to its clients.
About Cecabank
Cecabank is a Spanish wholesale capital bank with a vocation to serve all financial institutions. It specialises in Securities Services, Treasury Management and Banking Services
