MoraBanc achieves a profit of 40.1 million euros in 2021, a 16% higher than in 2021.

MoraBanc has ended the 2022 financial year with profits totalling 40.1 million euros, a figure 16% higher than in 2021, in a year characterised by the completion of the process to integrate BSABanc under the MoraBanc brand. MoraBanc’s business model allows for the recurring and growing generation of profits and long-term sustainability.

The group closed 2022 with assets under management amounting to 10,211 million euros. The most significant data in the results preview include its profitability, with an ROE that rose to 10.90% for the year. The solidity of MoraBanc’s balance sheet is reflected in the capital ratio, which stands at 18.06% (CET 1 fully loaded) and the liquidity ratio (LCR), which finished 2022 at 294.14%, demonstrating the institution’s excellent situation in this respect. As for the loan book, in 2022 it totalled 1,538 million euros, with an improvement of the non-performing loan ratio going down to 2.6%.

Once drawn up and signed, the annual accounts for the 2022 financial year will be submitted for approval at the Ordinary General Meeting of Shareholders, to be held on second call on 26 April. It will be the first one for BSABanc shareholders who chose to maintain their holding by exchanging them for MoraBanc shares.

Rita Estévez Luaña, new independent director

The appointment of Rita Estévez Luaña as a new independent director of Mora Banc Grup SA is set to be approved at the next shareholders’ meeting, a proposal which remains subject to the Andorra Financial Authorty’s (AFA) prior authorisation. Estévez has over 25 years’ experience as a senior executive in multinational organisations and a solid track record in the financial, insurance and technology sectors. She is currently an independent director at Línea Directa Aseguradora. She previously held senior manager positions at Deutsche Bank, GE Financial Services and Experian and she was an independent director of Telefónica Consumer Finance.