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In 2016, Cecabank concluded its first Strategic Plan which it has had in
place since it started out as a banking organisation in 2012.
How has the development and implementation process gone?
When we created Cecabank in November 2012, we transferred our activities
in business and services from CECA to the new bank. We found ourselves
right at the centre of the restructuring of the sector: at the time, the number
of entities had reduced to a third and their average size had multiplied by
three. The services CECA had been providing, which, remember, had been a
credit institution up to that point and as such had a banking sheet, had to be
adapted to this new environment. As such, at the end of 2012 we started a
process of strategic analysis which resulted in the formulation of the 2013-
2016 Strategic Plan, approved by our Board of Directors in June 2013.
Starting from a competitive analysis of our lines of business the plan resulted
in a redefinition of Cecabank’s business areas, with three key categories iden-
tified: Securities Services (contract and post-contract services for financial ins-
truments to credit institutions, asset management companies, and insurance
companies), Treasury (treasury management, brokering financial instruments,
and liquidity management) and Banking Services (payments, treasury support
platform, regulatory financial management, and digital transformation).
At the same time, the company moved from its model centred on CECA’s for-
mer member entities to a model open to the entire financial system. I should
point out that CECA was in fact already providing services to entities outside
of the savings sector, but in the Plan we decided to make a firmmove towards
attracting new customers, entailing an evolution of the portfolio of services
offered by Cecabank compared with those offered by CECA.
In addition, along with the Plan came a reduction in capacity in order to
increase efficiency, a number of initiatives directed towards adapting to the
new model, and lastly corporate development as a transition towards a more
commercial culture.
The 2013-2016 Strategic Plan involved a significant transformation of the
company, with a high level of involvement across all levels: shareholders, di-
rectors, employees, managers, and customers.
How was the implementation of the strategic plan received in the company?
The Plan was a necessity and has been actioned with great success: we are
proud of the results.
The bank has reached a leading position in the depositary market and has
managed to consolidate itself as an outstanding player in the post-contrac-
ting business. In December it had reached a total deposit value of 93 billion
euros and 111 billion in assets under custody.
And in addition, the Treasury Management business was restated during this
period. There has been an increase in third-party trading, leverage by greater
commercial efforts, a diversification of the client base, and an increase in the
range of services offered. The banknotes business has been boosted by an
increase in tourism and new customers. In addition, the Treasury platform is
completing its project implementation plans and gearing itself towards the
acquisition of customers from beyond the banking sector.
In Banking Services, there have been significant developments in new projects
based on innovative solutions in digital and payments. Business in this line
of activity, though initially affected by the consolidation of the sector, has
managed to enhance links with the client base and make progress in terms of
expanding its client base. But there is still a long way to go, in a business that
changes so quickly and requires constant efforts to innovate.
Today we can safely say that Cecabank has found its niche in the Spanish
market as a specialist service provider and has an established business.
The 2013-2016
Strategic Plan has
resulted in a
significant
transformation of the
company, with a high
level of involvement
across all levels:
shareholders,
directors, employees,
management,
and clients.
Cecabank
2016 Annual Report
Page. 5