Euroclear sees increase in net profit
11 March 2019 Brussels
Image: Shutterstock
Euroclear’s net profit was up 36 percent to €322 million, as of 31 December 2018.
Euroclear’s 2018 financial results revealed that operating costs stood at €814 million for 2018 as a result of continued investment in Euroclear’s customer proposition and regulatory-driven initiatives, which were offset by tight control of costs.
It also showed that the average value of securities held on behalf of Euroclear clients continued to grow last year to €28.8 trillion, compared to €28.4 trillion in 2017.
Euroclear's collateral highway saw a yearly average of €1.2 trillion, up 7 percent from 2017, while the number of fund orders routed by Euroclear increased 4 percent to 10.9 million last year.
As part of its strategic update, Euroclear said the launch of single central securities depository (CSD) and access to the European Central Bank’s TARGET2-Securities platform has provided “an efficient gateway to Eurozone liquidity for international investors”.
The bank also said it was “continuing to invest in core systems, enhance cyber resilience and meet the requirements of incoming regulations, including the Central Securities Depositories Regulation”.
Commenting on the results, Lieve Mostrey, CEO of Euroclear, said: "Euroclear has had an excellent year, with key business metrics reaching record levels, demonstrating the attractiveness of our proposition and focused strategy.”
She added: “Looking forward, we will continue to invest in our customer offer and focus on delivering our strategic objectives for the benefit of all our stakeholders."
Euroclear’s 2018 financial results revealed that operating costs stood at €814 million for 2018 as a result of continued investment in Euroclear’s customer proposition and regulatory-driven initiatives, which were offset by tight control of costs.
It also showed that the average value of securities held on behalf of Euroclear clients continued to grow last year to €28.8 trillion, compared to €28.4 trillion in 2017.
Euroclear's collateral highway saw a yearly average of €1.2 trillion, up 7 percent from 2017, while the number of fund orders routed by Euroclear increased 4 percent to 10.9 million last year.
As part of its strategic update, Euroclear said the launch of single central securities depository (CSD) and access to the European Central Bank’s TARGET2-Securities platform has provided “an efficient gateway to Eurozone liquidity for international investors”.
The bank also said it was “continuing to invest in core systems, enhance cyber resilience and meet the requirements of incoming regulations, including the Central Securities Depositories Regulation”.
Commenting on the results, Lieve Mostrey, CEO of Euroclear, said: "Euroclear has had an excellent year, with key business metrics reaching record levels, demonstrating the attractiveness of our proposition and focused strategy.”
She added: “Looking forward, we will continue to invest in our customer offer and focus on delivering our strategic objectives for the benefit of all our stakeholders."
NO FEE, NO RISK
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Securities Finance Times
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Securities Finance Times
