Santander será el proveedor exclusivo de servicios financieros de la CNMV

Santander has been awarded the exclusive provider of financial services for the CNMV, following a bidding process initiated by the National Market Commission (CNMV). The contract's first-year value is set at 475,530 euros, with the possibility of up to four extensions of 12 months each. This marks a significant shift from the 33-year tenure of BBVA in providing these services.

Santander's bid was the only one deemed eligible, surpassing competitors Bankinter, Caja Postal, and Argentaria, which had been under BBVA's control. The winning bid considered two factors: the applicants' rating for long-term debt investment and the interest rate paid on CNMV current account balances, which must not be negative.

Santander met these criteria, boasting an A+ rating from Standard & Poor's and Fitch, and an A1 and A rating from Moody's and DBRS respectively. Santander pledged to pay an interest rate equivalent to the one-year Euribor minus a 0.10% differential, which, based on the last day's average of 2.982%, estimated the initial year's contract value at 475,530 euros.