AndBanc
With an overall good performance, Andbanc has proven the fastest growing bank in Andorra. Its net profits have increased by 6.68%, assets have expanded by 15.2% and return on equity reached a remarkable 18.79%.
The bank has also showed a strong commitment to customer loyalty and satisfaction, providing its clients with a wider choice of products, including some new structured products. Besides its strong presence in the principality, Andbanc has interests in Germany, Luxembourg, Switzerland, Panama and the Bahamas, and a wealth of diversified vehicles of investment and structured products.
“Every year is important and different in a business as dynamic as ours. Notwithstanding, 2005 is becoming a very special year for Andbanc,” says president Manel Cerqueda Donadeu. “Since its start, on December 30, 1930, Andbanc has known that its place was close to people. And this is the key to our business. Andbanc was founded just as modern Andorra started to build the foundations of its development and it has continued to consolidate its growth and position as a financial services provider highly specialised in private banking.
“From the start, Andbanc has implemented a cooperation strategy in all the areas of society oriented to patenting the entity’s link with and responsibility for Andorra’s development. Today, for all these reasons, we are proud of the international recognition that The Banker has given us. This is new encouragement to continue working along the same lines that have brought us here today.”
