Escaldes-Engordany, 27th March 2024.<\/p>\n
Andbank, an international group specialising in private banking, ended 2023 with a 33% increase in profits, above \u20ac40 million, and a business volume amounting to \u20ac41,550 million, a 21% rise.<\/p>\n
Credit investment increased by 4% to \u20ac3,225 million and assets under management went up by 22% to \u20ac38,225 million, in other words, a rise of \u20ac7,084 million. The capture of new business added \u20ac4,810 million to the assets under management and the revaluation of the customer portfolios brought \u20ac2,274 million of growth.<\/p>\n
The ordinary margin increased to \u20ac268 million, 18% higher than in the previous year. The EBITDA (operating margin before depreciation) rose to \u20ac83 million, 44% above the previous figure.<\/p>\n
According to Manel Cerqueda Donadeu, Chairman of Andbank, \u201cthis growth is due to the dynamic nature of the institution, which stems from our constant search to offer the very best service to our customers\u201d. In this regard, Andbank CEO Carlos Aso highlighted that \u201cwe\u2019ve achieved record profits in Spain, Luxembourg and Monaco and we\u2019re once again witnessing significant growth in the Andorran market\u201d.<\/p>\n
Principal indicators<\/strong> In this sense, the TIER1 solvency ratio stood at 16.93% consolidated and 29.25% in Andorra. The LCR liquidity ratio remained at 290%, almost three times above the minimum liquidity coverage ratio of 100%, while the LTD (Loan to Deposit) ratio stood at 51%. Moreover, the delinquency rate fell to 1.3%, the lowest figure in the sector.<\/p>\n Commitment to digital and innovation<\/strong> Commitment to society<\/strong> The group increases its assets under management by \u20ac7,351 million and its credit investment by \u20ac253 million.
\nAndbank increased its own resources to \u20ac688 million and positioned its solvency and liquidity ratios above the parameters required by the Basel III agreements and above the European average.<\/p>\n
\nMyandbank, Andbank\u2019s online channel in Andorra, ended the financial year with 13,800 customers and a business volume totalling \u20ac95 million, reflecting the Andorran market\u2019s acceptance of fully digital solutions with value-added investment products and low fees.
\nMyInvestor, the neobank partly owned by the Andbank Group, AXA, El Corte Ingl\u00e9s and several family offices, achieved the first profits in its history, with \u20ac2.4 million, a business volume of \u20ac4,373 million and over 220,000 customers. MyInvestor completed a \u20ac45 million capital round in 2023, thus incorporating prestigious new shareholders to finance the neobank\u2019s solid growth.<\/p>\n
\nIn 2023, Andbank continued to strengthen its activity in the field of corporate responsibility and especially in one of its areas of action: support for research in the fight against cancer. In this sense, the Group has continued to support the SJD Paediatric Cancer Centre in Barcelona, the FERO and CRIS Foundation against cancer.
\nSimilarly, last year, Andbank promoted several initiatives with NGOs in order to support institutions that operate in the communities in which the Group conducts its business.<\/p>\n","protected":false},"excerpt":{"rendered":"
\nThe EBITDA (operating margin before depreciation) rises to \u20ac83 million, 44% above the previous figure.
\nThe bank also has a 16.93% TIER1 solvency ratio and a delinquency rate totalling 1.3%, one of the lowest in the sector.<\/p>\n","protected":false},"author":31,"featured_media":38297,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[3],"tags":[],"yst_prominent_words":[3414,5129,2978,8527,8524,3241,4602,3025,3134,3899,6165,3765,8505,3769,3770],"class_list":["post-38306","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.andbank.com\/en\/wp-json\/wp\/v2\/posts\/38306"}],"collection":[{"href":"https:\/\/www.andbank.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.andbank.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.andbank.com\/en\/wp-json\/wp\/v2\/users\/31"}],"replies":[{"embeddable":true,"href":"https:\/\/www.andbank.com\/en\/wp-json\/wp\/v2\/comments?post=38306"}],"version-history":[{"count":3,"href":"https:\/\/www.andbank.com\/en\/wp-json\/wp\/v2\/posts\/38306\/revisions"}],"predecessor-version":[{"id":38312,"href":"https:\/\/www.andbank.com\/en\/wp-json\/wp\/v2\/posts\/38306\/revisions\/38312"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.andbank.com\/en\/wp-json\/wp\/v2\/media\/38297"}],"wp:attachment":[{"href":"https:\/\/www.andbank.com\/en\/wp-json\/wp\/v2\/media?parent=38306"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.andbank.com\/en\/wp-json\/wp\/v2\/categories?post=38306"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.andbank.com\/en\/wp-json\/wp\/v2\/tags?post=38306"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/www.andbank.com\/en\/wp-json\/wp\/v2\/yst_prominent_words?post=38306"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}