Escaldes Engordany, 9 April 2025.<\/p>\n
The Andbank Group ended 2024 with a 14.9% increase in earnings, above 46 million euros, and a business volume totalling 52,362 million euros, a figure constituting 26.1% growth.<\/p>\n
Assets under management grew by 27.7% to 48,890 million euros, in other words, 10,567 million euros more, while credit investment rose by 7.5% to 3,472 million euros. The acquisition of new business added an asset volume totalling 7,798 million euros, while the revaluation of customer portfolios amounted to 2,765 million euros (with an average of 7.2%).<\/p>\n
The ordinary margin increased to 339.215 million euros, a figure 12.8% higher than the one
\nrecorded in the previous year. The EBITDA (operating margin before depreciation and
\namortisation) stood at 109 million euros, up 32%.<\/p>\n
In Andorra, the bank increased its business volume by 29.5% to 6,588 million euros. Credit
\ninvestment in Andorra grew by 15.3% to 1,041 million euros.<\/p>\n
According to Andbank chairman Manel Cerqueda Donadeu, \u201cwe\u2019ve witnessed record business
\ngrowth in both Andorra and Spain thanks to our distinctive value proposition\u201d. In this regard,
\nAndbank CEO Carlos Aso underlined that \u201cthe key to Andbank\u2019s growth is its human team, due to their professionalism, motivation, dedication and commitment to excellence\u201d.<\/p>\n
Andbank increased its equity to 728 million euros. The TIER 1 solvency ratio stood at 16.85% in consolidated terms and at 28.17% in Andorra. The LCR liquidity ratio rose to 386%, a figure almost four times above the 100% minimum liquidity coverage ratio and well above the European average (161%). As for the LTD (Loan to Deposit) ratio, it stood at 41.41%, while the non-performing loan ratio fell to 0.95%.<\/p>\n
In 2024, Fitch Ratings confirmed Andbank\u2019s BBB rating with a stable outlook, positioning it as the bank with the best classification in Andorra.<\/p>\n
As key factors in this assessment, the rating agency highlighted its moderate risk profile and conservative liquidity management, the quality of its assets, the international scale of the institution, its specialisation in private banking and its adequate capitalisation and profitability.<\/p>\n
Similarly, Fitch emphasised Andbank\u2019s international dimension (\u201cthe largest bank in terms of managed assets in the Principality\u201d) and its business scale, with a significant presence in Spain, greater than that of its Andorran counterparts, a factor in the bank\u2019s appropriate profitability and profit generation.<\/p>\n
In June 2024, Andbank acquired 75% of Gesconsult, one of the first independent management companies in the Spanish market. With this operation, Andbank added 300 million euros of volume to its business in Spain, thus reinforcing its standing in the asset management and private banking industry, in which it has positioned itself as the leading specialist institution when it comes to asset volumes. The institution has also launched new private banking centres in Asturias and Majorca.<\/p>\n
MyInvestor, the neobank invested in by Grup Andbank, AXA, El Corte Ingl\u00e9s and several family offices, ended 2024 with record 90% growth, achieving a business volume of 8,332 million euros and a net profit totalling 6.5 million euros. MyInvestor doubled its customer base to nearly 435,000.<\/p>\n
Commitment to society<\/strong> – Assets under management grow by 27.7% to 48,890 million euros and credit investment rises by 7.5% to 3,472 million euros.
\nIn 2024, Andbank continued to reinforce its corporate social responsibility, focusing in particular on cancer research. The Group extended its support to the SJD Pediatric Cancer Center in Barcelona, the FERO Foundation, the Contigo Foundation and CRIS against Cancer, as well as the solidarity wig bank created in Andorra. Andbank also promoted several initiatives with NGOs to support institutions that act within the communities in which the Group operates.<\/p>\n","protected":false},"excerpt":{"rendered":"
\n– The bank almost doubles its acquisition of new global business with 92% growth, adding 7,798 million euros of new customers.
\n– The EBITDA (operating margin before amortisation) rises by 32% to 109 million euros.
\n– The bank has a 16.85% TIER 1 solvency ratio and a 0.95% default ratio.<\/p>\n","protected":false},"author":31,"featured_media":39442,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[3],"tags":[],"yst_prominent_words":[3414,2978,2978,3125,3075,6380,8527,4602,3350,3025,3134,3101,6898,4374,6165,3765,8505,6897,3769,5135,3770],"class_list":["post-39449","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\/39449"}],"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=39449"}],"version-history":[{"count":2,"href":"https:\/\/www.andbank.com\/en\/wp-json\/wp\/v2\/posts\/39449\/revisions"}],"predecessor-version":[{"id":39454,"href":"https:\/\/www.andbank.com\/en\/wp-json\/wp\/v2\/posts\/39449\/revisions\/39454"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.andbank.com\/en\/wp-json\/wp\/v2\/media\/39442"}],"wp:attachment":[{"href":"https:\/\/www.andbank.com\/en\/wp-json\/wp\/v2\/media?parent=39449"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.andbank.com\/en\/wp-json\/wp\/v2\/categories?post=39449"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.andbank.com\/en\/wp-json\/wp\/v2\/tags?post=39449"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/www.andbank.com\/en\/wp-json\/wp\/v2\/yst_prominent_words?post=39449"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}