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2018 Pillar 3 Disclosures
General information requirements
1 |
The objective of this document is to provide information for the market regarding all relevant
aspects connected with the financial situation and activity of Cecabank (hereinafter, ‘the bank’)
and, in particular, its risk profile. This ensures compliance with Article 85 of Act 10/2014 on the
regulation, supervision and solvency of credit institutions.
In accordance with the Transparency Policy, this document was approved by the Cecabank Board
of Directors at its meeting on 26 March 2019, at the proposal of the Risk Committee.
The information to assess the bank’s risk, market strategy, risk control, internal organisation
and solvency situation, included in this report has been prepared by Cecabank in line with
the provisions of Part Eight of the EU Regulation 575/2013 and further developments of this
regulation. In accordance with the same regulation, information on remuneration is also included.
Article 435, paragraph 1, letter f of EU Regulation no. 575/2013 requires that the Board of
Directors of credit institutions approve the description of the overall risk profile and the
explanation of the comprehensive view of internal risk management, and that this is incorporated
into the Pillar 3 disclosures. The approval of this document by the Board, pursuant to the
foregoing, covers this requirement, and all the information requested is found in its different
sections.
Certain information required by the regulations in force that must be included in this report is
set out, in accordance with this regulation, referring to the 2018 individual financial statements
of Cecabank. Along with the financial statements, these “Pillar 3 Disclosures”, can be found on
Cecabank’s website
(www.cecabank.es).
The bank mainly carries out its activity in Spain and has operating branches in London and
Lisbon, as well as representative offices in Paris and Frankfurt. It also has a subsidiary, Trionis,
which is excluded from the prudential scope of consolidation under Article 19.1 of EU Regulation
575/2013
1
. Consequently, all the information contained in this report refers to the bank at an
individual level
2
.
1 The request sent was resolved by the Bank of Spain, stating that it had no objection to subsidiaries being
excluded.
2 Comparative data included in this report for 2017 also refer to the bank at an individual level, so it may not
coincide with the data provided in the previous year’s document.