Cecabank to acquire institutional fund depository business of Bankia for $200m.

Cecabank, a wholesale bank, agreed to acquire institutional fund depository business of Bankia, a Spanish consumer bank for $200m. “At Bankia, we are pleased to announce this agreement with a leading partner in the depositary business like Cecabank, which last year was Awarded the Best Spanish Custodian Bank for the third consecutive year,” Fernando Sobrini, Bankia Assistant Managing Director.