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Banca March - Hacer crecer, seguir creciendoNews

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At Banca March, we want to keep you always informed, and this section gives you the opportunity to find out whatever you want to know about.

12/29/2017

Banca March successfully completes the full integration of Consulnor into its structure

  •  Since Banca March invested in Consulnor, turnover in the Basque Country and La Rioja has more than doubled to 2 billion euros.
  • Consulnor customers can now access the Banca March’s full range of banking services and an expanded selection of specialized asset management and business consulting services.
  • To complete the integration, the bank will reorganise the business and executive structure. It will also strengthen the teams in the Basque Country to improve and guarantee customer service quality and implement the bank’s growth plans.

Banca March has successfully completed the full integration of the Consulnor wealth management company into its structure, having complied with all regulatory and legal formalities. Banca March has thus carried through its commitment to grow in the Basque Country and La Rioja, which began in 2012 with the acquisition of a majority stake in Consulnor, increased to 100% this year. Since Banca March invested in Consulnor, turnover in its area of influence (Basque Country and La Rioja) has more than doubled to over 2 billion euros.

Following the full integration of the Basque company, Banca March will restructure the business organisation and executive structure in the Basque Country and La Rioja, and will strengthen the Consulnor teams in order to further improve the quality of service received by customers in both regions. This parameter is a cornerstone of Banca March, and is reflected in the most recent results of the Financial Sector Customer Satisfaction Benchmarking published by the independent firm Stiga for the Spanish market. According to this study, Banca March’s customer satisfaction is excellent. Specifically, this analysis has it in second place, both for Overall Satisfaction with the Institution, with a score of 8 out of 10, and for the customer recommendation index, measured using the method known as NPS (Net Promoter© Score), which stood at 26.7% for the bank as a whole in September.

José Luis Acea, CEO of Banca March, had the following to say: “With this operation, Banca March strengthens its brand presence and reorganises the business and its management, in line with its firm commitment to continue growing in the Basque Country and La Rioja. These are key markets for the institution, where our business model, based on long-term thinking, sound judgement and shared growth for employees, shareholders and customers, in addition to our specific focus on family businesses and business families, resonates strongly. We are one of the most solvent banks in Spain, with the lowest non-performing asset ratio, which puts us in a great position to make the most of the dynamism in the Basque Country and La Rioja, where customers have a great financial culture and the business sector has very sophisticated financial needs.”

“The integration into Banca March gives Consulnor customers access to services and a superior level of expertise in an institution that has been in the business for more than 90 years, with clear leadership in Wealth Management,” added Jorge Bergareche, Banca March Director and Former Chairman of Consulnor.

In this spirit, Consulnor customers can now access Banca March’s entire range of specialised services and products for Private and High-Net-Worth Banking and Business Consultancy. In other words, they now have access to a broad and complete selection of bank services that stand apart from what is available with traditional retail banking. In line with the Banca March philosophy, the institution is offering products that adapt to customers’ needs and go beyond checking accounts and payment methods.

For instance, Banca March continues to strengthen and remains firmly committed to its offer of collective investment, which allows our customers to invest in the same products as the bank, a unique concept that sets us apart in the Spanish financial market. The three institutional SICAVs managed by March Asset Management (March A.M.) are a good example of collective investment. Torrenova is the most important SICAV in Spain, with €1.54 billion in assets under management. It was created over 20 years ago as an investment instrument for the bank’s shareholders and currently comprises 6,689 customers. Bellver (551 million euros’ worth of managed assets) and Lluc (226 million) round off this group of products. Customers also have the opportunity to participate in other forms of collective investment with Banca March through different alternatives on offer in the real estate sector, special funds and business projects, among others.

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