Centrálny depozitár cenných papierov SR (CDCP SR) finished with positive economic results also in the year 2021. This was even despite several restrictions due to the COVID-19 pandemic. The profit after taxation reached amount of 6.04 million EUR. The economic result was markedly influenced by cancelled provisions for long-term legal disputes, which the central depository manages to eliminate gradually.
Centrálny depozitár cenných papierov SR achieved the second-best economic result over the last years. „We may consider the year 2021 as difficult, but also successful and remarkable for several reasons. As regards the value of book-entry securities we have exceeded the level of 100 billion EUR. We achieved the economic result after taxation in value of 6.04 million EUR. It means that also this year we can pay dividends to our shareholder – Burza cennych papierov in Bratislava, a.s.,“ states Martin Wiedermann, the Managing Directors and the chairman of the Board of Directors of CDCP SR.
The year-on-year development of the economic result was affected by decrease in revenues by 16 percent. In the year 2021 the results were affected mainly by revenues from own services which dropped by 15 percent compared to previous year. The revenues from own services, similarly as in past years, were affected mostly by revenues from registration services for issuers of book-entry securities, administration of securities owner’s accounts and business services provided to issuers of paper form securities. These 3 groups of revenues altogether create 83% of the total revenues in CDCP. In 2021 the central depository continued in reducing the total costs, that fell by 1 percent.
„In future, the profit/loss will be influenced by significant decrease in number of owner’s accounts registered by CDCP SR for natural persons. We have to respond not only to the crisis caused by COVID‑19 virus and be prepared for changes of the landscape due to the crisis, but also to development in the area of the post-trade services. For these services is characteristic strong harmonisation pressure created by the European institutions in order to provide yet wider scope of services by standardised method” states Martin Wiedermann.
Henceforth, an important factor in area of post-trade services is application of new information technologies trends as are robotization, DLT and block-chain or the artificial intelligence. Last, but not least, the company will be influenced also due to specificity of the local capital market, low interest of issuers of shares to enter the regulated market, non-standard method of provisions of certain services and high-cost infrastructure due to low possibility to apply economies of scale. „Our ambition is to cope with all these obstacles and become one of the best financial institutions in Slovakia,“ concludes Martin Wiedermann.