It is the seventh consecutive year that the Overall magazine Banking and Finance Review has granted the prize to the company
The main reasons include: its high specialisation and leadership in Securities Services and the strong solvency, with a ratio CET1 to March 2023 of 32.68%
The company continues consolidating as the leading bank in Securities Services in Spain and Portugal
MADRID, 17 JULY 2023. Cecabank is the benchmark custodian bank for Securities Services in Spain and Portugal, providing post-trading services for marketable securities and financial instruments such as depositary, registry, custody, clearing and settlement services. Its remarkable position is based on a regulatory deep understanding and in a tall specialisation operations in custody and depositary services.
The bank, which has a volume of assets under custody of more than 294 billion euros and 216 billion euros in assets deposited in June 2023, has been selected, for the seventh year in a row, as the best custodian bank in Spain by the specialised magazine Global Banking and Finance Review . This prize supposes again a recognition to the leadership of the company in the industry of the post-trading in our country.
The prize as better bank guard of Spain enjoys major recognition in the financial sector. Has been granted essentially to Cecabank for its specialisation in Securities Services, as well as for the improvements developed in innovation and the achievements reached to corporate level. Similarly, the publication has considered the strong solvency of the company to give him the award. At close of March of 2023, its ratio CET1 was placed at 32.68%, considerably higher than the legal requirements and some of the higher of the Spanish financial system.
In José María's words Méndez, chief executive officer of Cecabank: “This award supposes also a significant recognition to the new initiatives developed by our company to expand the value chain of Securities Services with the aim of accompanying to our clients there where its business needs are found, such as the service of transmission of vote in meetings (proxy voting), the verification of funds ISR, the direct procedure for fiscal services or the platform of distribution of securities”.
Cecabank, essential infrastructure of the Spanish financial system
Throughout a decade, Cecabank has forged a new business model innovator, resiliente and sustainable focused on B2B, with a high specialisation in the support to other subjects of the financial market. Cecabank is today a Spanish bank that provides financial and technological services to the credit institutions, but also to the management companies of CII and venture capital, to the insurance companies and to companies of investment services.
Besides Securities Services, the model of the bank se cimenta in other three lines of business:
– Cash Management: the bank operates on a wide range of financial products (RF, RV, currencies and derivatives) on a self-employed basis and third-party, with presence in the main national markets and international, being direct member of the central counterparties and market maker principals of public debt, NextGeneration EU and in futures in organised markets of the product xRolling FX.
– Payments: the company has experienced a significant growth in this line, instituting as hub national and international that offers process of any payment outline. Offers flexible and innovative solutions the processing of payments by card, with account, e-commerce and payment with mobile phone.
– Technological Platforms: Cecabank is a performance benchmark in the provision of digital banking services, monitoring of the online fraud and services of treasury, risks and reporting.
Cecabank has adapted its porfolio of products and services to adapt it better to its clients' needs, discussing always of anticipating to the same thanks to its deep understanding of the regulation. The bank is aware of its position as an essential infrastructure of the Spanish financial system and expert on that the awarded confidence for its clients is the fundamental pillar on that which reach critical mass to introduce more efficiency in the Spanish financial system.
