With 310 billion euros of assets under custody and 220 billion euros of deposited assets, the Bank retains its leading position in Securities Services
The Bank's achievement of these figures is due both to the good market performance and positive net subscriptions in 2023 and to the onboarding of new customers
MADRID, 2 JANUARY 2024 - Cecabank, the benchmark custodian bank in Securities Services in Spain and Portugal and provider of specialised solutions for all kinds of national and international financial institutions and corporations, begins 2024 by achieving its best ever turnover figures related to the depository activities of savings and investment vehicles and the settlement and custody of securities.
In the depositary business, in which Cecabank renders services to 43 asset managers of collective investment institutions, pension funds, EPSVs and venture capital entities, the volume of deposited assets amounts to more than 220 billion euros, exceeding the previous high recorded in December 2021 by upwards of 5 billion euros.
With regard to the total volume of assets under custody, the nearly 100 financial institutions of all kinds to which Cecabank provides custody services have reached a total of 310 billion euros in securities in more than 70 markets.
The Bank's achievement of these figures is due both to the good market performance and positive net subscriptions in 2023 and to the onboarding of new customers. These figures have enabled Cecabank to retain its leading position in Securities Services for yet another year, as the largest independent Spanish custodian and the leading domestic provider of settlement and custody services, actively partnering with management companies, banks, insurance companies and investment services companies in regulatory, operational and business aspects, guaranteeing its customers that it will not compete with them.
For over a decade, Cecabank has been consolidating its position as a benchmark institution in the securities, treasury and payment services market. In-depth regulatory knowledge and a high level of operational specialisation in custody and depositary services; its business model, which is built on neutrality, independence and a high quality of service, together with the trust placed in it by its customers, are the main reasons why, in just ten years, it has consolidated its position in the field of Securities Services.
In order to continue offering its customers a service that scores an average overall satisfaction rating of 8.5 out of 10, Cecabank is immersed in a significant process of digital transformation of its Securities Services business, with the aim of strengthening its value chain, profiting from the opportunities presented in the new environment. It also seeks to provide innovative solutions that meet the needs of its customers.
