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Fitch confirms Andbank as the top-rated bank in Andorra

Fitch confirms Andbank as the top-rated bank in Andorra

Andbank

· Fitch awards Andbank a BBB rating with a stable outlook.
· The ratings agency highlights the bank's large international footprint, good liquidity management, the quality of its assets, and its moderate risk profile as key to the rating.
· The bank is growing very significantly and its turnover now exceeds €39 billion.

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Andbank Group boosts profits by 11% to 30 million euros, and grows turnover to 34.3 billion euros

Andbank Group boosts profits by 11% to 30 million euros, and grows turnover to 34.3 billion euros

Andbank

– The bank added 3.257 billion euros in new customer positions, a record figure for organic acquisition.
– Assets under management rose to 31.241 billion euros and credit investment stood at 3.092 billion.
– The Liquidity Coverage Ratio (LCR) held at 234% and the Loan to Deposit Ratio (LTD) was 60%.
– The bank also has a consolidated TIER1 solvency ratio of 15.7% and a non-performing loan ratio that fell to 1.6%, one of the lowest in the sector.

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Andbank launches its activity in Tarragona and expects a business volume above €100 million within three years

Andbank launches its activity in Tarragona and expects a business volume above €100 million within three years

Andbank

– It’s opening a private banking centre led by Antoni Abad, Executive Director of Andbank, with Carlos Conde as its manager and Carles Adam as the director of private banking.
– Andbank ended last year with a business volume totalling €18,805 million in Spain, a 9% rise, placing it seventh in the ranking of private banking institutions operating in this market.

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Fitch upgrades Andbank’s prospects to “stable” and confirms its BBB credit rating

Fitch upgrades Andbank’s prospects to “stable” and confirms its BBB credit rating

Andbank

  • Andbank has been rated the best bank in Andorra for the third year in a row.
  • The agency believes that “the institution’s earnings and profitability will continue to improve as a result of the expansion of the volumes in the private banking business”.
  • Fitch underlines Andbank’s “satisfactory” capitalisation, its international operations and its suitable size for Andorra. It also highlights its healthy profits, the quality of its assets, its high provisions and its loan collateral.
  • The Andbank Group ended 2021 with a 20% increase in its assets under management, which climbed to 30,200 million euros. The rating agency expects “the bank to continue to implement its growth plans”.
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    Andbank dona, a través de su fondo SIGMA Global Sustainable Impact (GSI), cerca de 700.000 euros a proyectos de investigación contra el cáncer

    Andbank dona, a través de su fondo SIGMA Global Sustainable Impact (GSI), cerca de 700.000 euros a proyectos de investigación contra el cáncer

    Andbank

    – El fondo GSI, que invierte bajo criterios ESG y de impacto, cede el 9% de la comisión de gestión y el 100% de la comisión de éxito a proyectos de investigación contra el cáncer. En 3 años el fondo ha donado más de 1 millón de euros a iniciativas enmarcadas en este ámbito.
    – El proyecto STAB de la Fundación CRIS contra el cáncer en la Unidad de Inmuno-Oncología del Hospital 12 de Octubre, el programa DIAMAV de Fundación FERO en el VHIO y el de investigación de la aplicación de Inmunoterapia CART en Leucemia Linfoblástica Aguda en pacientes oncológicos infantiles del Hospital Sant Joan de Déu, son los trabajos a los que ha ido destinada la donación.
    – La investigación contra el cáncer es el eje principal de actuación de la estrategia de responsabilidad social corporativa de Andbank

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    Andbank, specialised in private banking, and Clarity Capital Group announce the merger of their Israel-based asset management activities

    Andbank, specialised in private banking, and Clarity Capital Group announce the merger of their Israel-based asset management activities

    Andbank

    Clarity Capital Group and Andbank have entered into an agreement to combine their Israel-based asset management firm Sigma Investment House with Clarity Capital KCPS. The new entity will be jointly owned by the two groups

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