Cecabank maintains its leadership in Securities Services, finishing 2024 with over €351.3 billion in assets under custody and deposits exceeding €255.6 billion
The bank achieves a CET1 solvency ratio of 42.78%, one of the highest in the Spanish financial system
Cecabank, named best custodian bank in Spain again in 2025
Cecabank, a Spanish wholesale bank offering specialised services in securities, treasury, and payments, closed the 2024 financial year with a net profit of €86.7 million, an 18.9% increase compared to 2023 (€13.8 million more).
The net interest income performed excellently in 2024, growing from €121 million to €143 million. Factors driving this growth include higher interest accruals on the bank’s stable portfolio, increased volumes of repos and simultaneous transactions following the reactivation of this activity in mid-2023, and a higher volume of securities lending to private equity funds.
Income from fees and other net operating products reached a record high of €252 million, driven by the growth and consolidation of its leadership position in Securities Services in Spain, with deposits exceeding €255.6 billion and assets under custody surpassing €351.3 billion.
The positive performance of net interest income and fees in 2024 increased the gross margin to €347 million.
In terms of operating expenses, personnel costs rose due to the severance plan and the Collective Bargaining Agreement that went into effect in 2024.
The item for other administrative expenses increased compared to the previous year due to the advancement of certain Technology Plan projects aimed at strengthening the bank’s cyber resilience.
After deducting amortisation, provisions, asset impairments, and write-offs, a pre-tax profit of €120 million was achieved in 2024—the best result in the institution’s history.
Cecabank also maintains one of the highest solvency ratios in the country’s financial system. Specifically, at the end of 2024, the CET1 ratio stood at 42.78%, well above the legal requirements.
Cecabank, a successful model of B2B wholesale banking
Last year, Cecabank completed its 2022-2024 Strategic Plan, meeting both the financial and non-financial objectives set three years ago. Key factors included excellent internal management of the bank’s various business and support units, alongside a favourable economic environment. Throughout this strategic cycle, Cecabank consolidated its growth by implementing various initiatives that have strengthened its market presence and solidified its position as a provider of financial and technological services in Spain.
The 2022-2024 Strategic Plan focused on developing a synergistic business model that integrates securities, treasury, and payment services for credit institutions, management companies of collective investment schemes, private equity firms, insurance companies, and investment service firms, among others. Additionally, the bank has relied on an ambitious talent strategy, the Crece+ (Grow More) Plan, which has driven the adaptation and renewal of internal talent; a Technology Plan, which continues to transform its systems to improve efficiency and resilience; and a Sustainability Plan, which has enabled deeper integration of ESG (environmental, social, and governance) criteria into the bank’s strategy.
The combination of these services gives Cecabank a strong ability to anticipate and adapt to market changes, enabling a swift and effective response to new opportunities and challenges, while offering customers more comprehensive solutions tailored to their specific needs. Furthermore, Cecabank’s specialised knowledge across various synergistic areas strengthens its position and allows it to develop an integrated service offering, optimise resources, and improve operational efficiency. In short, Cecabank stands out for its unique model in B2B wholesale banking, focused on delivering specialised, high-quality, and competitive financial services in an ever-changing environment.
Cecabank, the best Custodian Bank in Spain again in 2024
The specialised magazine Global Banking and Finance Review has selected Cecabank as the Best Custodian Bank in Spain for the ninth year in a row. This prestigious award, highly regarded within the international financial sector, reflects the bank’s leadership in the post-trading industry, as well as the trust placed in it by customers for the depositary activities of savings and investment vehicles, and the settlement and custody of securities.
The reasons for receiving this distinction include its high level of specialisation in securities services and its high solvency.
