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112

Cecabank Report 2018

Financial Information

Risk management

The ratings awarded to Cecabank as at 31 December 2018 have remained the

same and in all cases considered Investment Grade. The ratings awarded by

Fitch Ratings, Moody’s, and Standard & Poor’s are as follows:

Among the aspects highlighted by the agencies are the conservative risk

profile, the high solvency levels and comfortable liquidity position. On the

other hand, the strategic orientation also stands out, including the leading

position in Securities Services market in Spain and its role as wholesale

services provider, especially to financial institutions, which allows increasing

the recurrence of income.

5 | 5.2

Short term

Long term

Outlook

Moody´s

P-2

Baa2

Stable

Fitch Ratings

F-3

BBB-

Stable

Standard & Poor’s

A-2

BBB

Positive