Cecabank, S.A.

Cecabank, S.A. is a Spanish wholesale bank headquartered in Madrid that was formed in 2012 following the reorganization of the savings bank sector and the separation of CECA’s banking activity into an independent credit institution. It focuses on institutional and corporate clients, with core lines in securities services (global custody and settlement, depositary of collective investment schemes and pension funds, fund administration and issuer services), payments (SEPA transfers and direct debits, card issuing and processing support), treasury and foreign exchange, and outsourcing solutions for regulatory reporting, risk and compliance, and technology. The bank does not operate a retail branch network or market consumer banking products, and its revenue mix is weighted toward fees and commissions rather than retail lending. Cecabank participates in domestic and European market infrastructures such as Iberclear and TARGET2‑Securities and connects to international messaging networks for cross-border activity. As an authorized credit institution in Spain, it falls under the EU Single Supervisory Mechanism framework with day-to-day prudential supervision by Banco de España; its depositary and related securities activities are overseen by the Comisión Nacional del Mercado de Valores, and pension depositary tasks are supervised by the Dirección General de Seguros y Fondos de Pensiones. Clients include banks, savings banks, credit cooperatives, asset managers, broker-dealers, insurance companies and large corporates, including entities not affiliated with CECA. The balance sheet is oriented toward liquidity and high-quality treasury portfolios to support operational needs and collateral, with limited direct exposure to retail credit, and funding is primarily institutional. In recent years it has expanded assets under custody and depositary mandates through new client wins and selective portfolio acquisitions disclosed in the Spanish market, while competing with global custodians and large domestic groups. Principal risk factors include operational and technology risk from large-scale processing, fiduciary and compliance risk in depositary services, market and interest-rate risk in treasury, and client and sector concentration within Spain’s asset management and pensions industry. The bank publishes annual reports and regulatory disclosures that detail capital, liquidity, governance and sustainability reporting in line with EU requirements.