Informe_Anual_Cecabank

61 / 76

Page. 61 Cecabank 2015 Annual Report
Banking Services
Foreign network
Its main functions are as follows:
Cecabank branch in London
Thebranchcentralizesalargevolumeofpaymentsand
collections between Spain and the United Kingdom
and consolidates its service as a correspondent bank
for British banks and banks from other European
countries and the United States.
Frankfurt representative office
This office covers Germany and Switzerland and is
extremely important as it is at the heart of the European
financial system, with the head offices of 63 German
banks and 150 international banks in Frankfurt, besides
the European Central Bank, the German Federal Bank
and the German Stock Exchange.
Paris representative office
This office covers France and Benelux, with
a considerable increase in its relations and
collaborations with institutions of the level of ESMA
(European Securities and Markets Authority) and
ESBG (European Savings Bank Group).
Subsidiaries
The Hong Kong subsidiary centralizes all the
foreign trade operations in Asia for bank customers
for whom it provides the service and ensures and
guarantees this type of transaction, as a result of
its long experience, and offers economic advantages
which are on a par with local banks.
International business
The network has a support team in Madrid which deals
with the operating treatment of means of payment in
foreign trade and international guarantees, pension
agreements and immigrant remittances. It also has a
Customer Service which specializes in resolving incidents
and providing advice for pensioners, beneficiary entities in
Spain, senders’ correspondent banks and payer entities.
International business
Cecabank has an extensive worldwide network of
correspondents, which enables it to send and receive
payments in any currency to any part of the world.
Cecabank has long experience in this field and a large
number of collaboration agreements with banks
throughout the world, as is shown by the 648 million
collection and payment transactions conducted in 2015.
| | |
| | |
|
03 Our Business Model