Press room

The group increases its assets under management by €7,351 million and its credit investment by €253 million. The EBITDA (operating margin before depreciation) rises to €83 million, 44% above the previous figure. The bank also has a 16.93% TIER1 solvency ratio and a delinquency rate totalling 1.3%, one of the lowest in the sector.

Both entities have signed the collaboration agreement that confirms Andbank as the official sponsor of the Andorra 2025 Small States Games.

· 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.

'- 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.

'- 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.

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”.