- Cecabank's growth has been marked by its high degree of specialisation and the generation of value for customers and society
- The bank's tenth anniversary coincides with the first year of the 2022-2024 Strategic Plan, which is committed to transformation in order to consolidate growth
- During this decade, the bank has entered into strategic agreements with top-tier partners and has strengthened its customer base and services portfolio
MADRID, 1 DECEMBER 2022.- This month marks ten years since Cecabank started operations. Today, the bank is a benchmark in Securities Services in Spain and Portugal and a leading provider of financial, payment and technology services.
At the close of 2021, the bank has more than €297,700 million in assets under custody and deposited equity of €213,600 million from more than 40 fund managers and around 8 million investors. These figures reflect the robust growth of the bank over the past ten years, the result of its high degree of specialisation and the constant integration of innovation and digitalisation processes into the business.
The solid solvency of the bank is another parameter that has evolved significantly: from a CET1 of 18.4% in 2012 to close 2021 with 30.1%, one of the highest in the Spanish banking system.
During this decade, the bank has entered into strategic agreements with top-tier partners such as Visa, Cardtronics or Diebold-Nixdorf, and has strengthened its customer base and services portfolio to stay ahead of new market requirements. Last financial year the bank posted a profit after tax of €69.2 million, the best figure since 2017, and closed with total assets of €17,197 million.
Cecabank's growth over the past decade has been possible thanks to the bank's high degree of specialisation and the generation of value for customers and society. Supporting customers in their projects to achieve their business objectives is a central part of Cecabank's strategy, guaranteeing their level of satisfaction and quality.
In 2022, the rating agency Fitch has upgraded Cecabank's long-term rating from BBB- to BBB, with a stable outlook. Fitch values the agreements reached over the past two years with fund managers and other institutions that have enabled Cecabank to strengthen its custody and depositary business, as well as its position in this market.
The bank's tenth anniversary coincides with the first year of the 2022-2024 Strategic Plan, which is committed to transformation in order to consolidate growth and the bank's leadership position. The corporate roadmap focuses on continuing to drive and create value in the Securities Services, Payments and Treasury & Global Markets businesses.
Since the end of 2021, the bank has been working on the preparation of the 2022-2024 Sustainability Plan, which addresses the new demands of stakeholders and steers the bank towards compliance with best practices. Cecabank has set itself the strategic objective of meeting stakeholder expectations in the three basic pillars of sustainability (Environmental, Social and Governance). The bank and all its employees are particularly committed to promoting projects geared towards generating a positive impact on society.
José María Méndez, CEO of Cecabank, takes stock of these ten years: "During this decade, the bank has been able to adapt to market changes and the needs of our customers, which has enabled us to be the leading depositary in the Iberian Peninsula and a benchmark provider of financial, payment and B2B technology services. In the current context of uncertainty and major challenges, Cecabank has a solid business model based on specialisation and the work of top professionals that enables us to anticipate changes and identify new business opportunities".
