MoraBanc, Bank of the Year in Andorra for the second consecutive year

MoraBanc has been named 2019 Bank of the Year in Andorra by The Banker, a magazine published by the Financial Times group. The bank has maintained its upward course, having increased its profits for two consecutive financial years. This fact was appreciated by the jury, together with other aspects such as its high solvency, which reached 21.5% (CET 1 fully-loaded and 24.7% phase-in), and its ROE (8.60%)*, figures that exceed the EU average. MoraBanc has received this international award for the second consecutive year and has now won it three times in the last five years.

MoraBanc Chairman, Pedro González Grau and Managing Director, Lluís Alsina collected the award on Thursday at a gala held in London. González pointed out that “we’re a team that focuses on the client, with a great capacity to work in a climate susceptible to change with innovation and creativity. These ingredients and our desire for growth have made us the leaders of an increasingly transparent, competitive and demanding market”. Lluís Alsina believes “we’re a strong bank offering competitive value which enables us to grow steadily, and we face many challenges ahead to maintain this course. We firmly believe in what we do, and our commitment and work have led us to be awarded this prize.”

The Bank of the Year Awards presented by The Banker place value on the ability to generate profits and to achieve a competitive edge so as to provide the best service for clients, a goal achieved by MoraBanc.

Growth, strategic plan and exclusive partnerships

MoraBanc has consolidated its positive path and ended the 2018 financial year with a further rise in its profits, of 2.3%. The bank’s excellent figures are the consequence of the application of the strategic plan submitted a few months ago, with a clear roadmap whose growth levers are a differential value proposal, constant innovation enabling it to lead digital banking in Andorra, excellent customer service and agreements with leading partners in the sector. In recent months MoraBanc has concluded exclusive partnership agreements with Goldman Sachs Asset Management, Pyrénées, the leading group in the Andorran retail sector as well as Cuatrecasas.

About MoraBanc

Founded in 1952, MoraBanc is an independent bank with an international scope and broad experience in the management of individual, family and institutional assets, guaranteeing personal attention and trustworthiness. 100% financed with family capital, it bases its activity on criteria of solvency, efficiency, digitalisation and transparency. It has a team of more than 300 people and manages 6.53 billion euros*. It has its head office in Andorra and international operations, with two asset managers in Zurich and Miami.

*Figures from December 31^st 2108