With more than €351.3 billion in assets under custody and €255.6 billion of deposited assets, the Bank retains its leading position in Securities Services in the Iberian market
Cecabank offers depositary, custody, clearing and settlement services to more than 100 customers, mainly banks, management companies and insurance companies
The custodian bank is envisaged as a core infrastructure of the financial system to achieve synergies, generate economies of scale and reduce costs.
Cecabank, the benchmark custodian bank in Securities Services in Spain and Portugal and provider of specialised solutions for all kinds of national and international financial institutions and corporations, begins 2024 by achieving its best ever turnover figures related to the depositary activities of savings and investment vehicles and the settlement and custody of securities.
In the depositary business, in which Cecabank renders services to 46 asset managers of collective investment institutions, pension funds, EPSVs and venture capital entities, the volume of deposited assets at December 2024 amounts to more than €255.6 billions, exceeding the previous high recorded in January 2024 by some €30 billion.
The bank, which oversees 45% of the country's savings in pension plans, stands out for its robust procedures to ensure the quality of the service to its customers. In this regard, Cecabank was the depositary best valued in the tender for the selection of managers and depositaries of public promotional pension funds (FPEPP, in Spanish) carried out in 2023, also supporting the managers who are offering simplified employment pension plans (PPES, in Spanish) designed for self-employed persons.
With regard to the total volume of assets under custody, with nearly 100 financial institutions of all types to which Cecabank provides custodian services, it totalled €351.3 billion in securities in more than 70 markets.
These figures have enabled Cecabank to retain its leading position in Securities Services by being the largest independent national depositary and the first national provider of settlement and custody services, actively collaborating with management companies, banks, insurance companies and investment services companies in regulatory, operational and business aspects, and providing the guarantee of non-competition with its clients.
In 2025, and thanks to this consolidated strength as a custodian bank and leading depositary in Spain, Cecabank will continue to grow in this line of business as a trusted supplier to offer its customers all the services they need to cover new needs.
On the one hand, the bank has been working for more than five years to become a custodian bank for digital assets, a key strategic line today. In addition, MiCA has provided an opportunity for traditional entities to start offering crypto-currency services, providing a secure and transparent experience, while complying with the current regulations.
To this end, Cecabank has provided the necessary technical and human capabilities to achieve a leading position in the custody of cryptographic keys for institutional clients, seeking the company of trusted partners in each area, including technological, operational and strategic aspects, such as Fireblocks (technology provider) and Bit2me as exchange.
The bank always looks to the future, trying to anticipate and be prepared at the right time. Its aim is to guarantee its customers services with the same quality level as the most traditional assets in the world.
In addition, as of January 2025, the bank will have a branch in Luxembourg in the Securities Services area, from where it will provide depository services for funds in respect of vehicles domiciled there, custody and settlement of securities, reinforcing its commitment to supporting its clients. Luxembourg is home to more funds than any other European country and is the world leader in cross-border fund distribution.
