Andbank group, Andorra (Pyrenees), closed the year of 2013 with the net income of 64.1 mln euro, which is by 13.3% more than the index of 2012. In accordance to the official statement of the bank the growth is entailed by the “private banking” model consolidation as well as positive dynamics of business development both in Andorra and in the zone of international jurisdiction.
In accordance to the major indexes of the report on profits and damages, the gross receipt made up 194.6 mln euro. The operating margin increased up to 86.4 mln euro, which is by 19.6% more than in 2012. The profit before taxation grew by 20.2% and made up 71.3 mln euro. As for capital availability, it remains high—67.33%, and the capital ratio is estimated to be 20.69% and that assures AndBank Group a privileged position on the global level.
The proprietary funds also grew from 446 mln euro in 2012 up to 482 mln euro in the end of 2013.
The volumes of clients’ funds also increased: 11.048 mln euro in 2012 vs. 13.473 mln in 2013 (22%). In accordance to the press-release, AndBank has taken the first place in Andorra in the volumes of clients’ funds.
The Group emphasizes that in 2013 certain international jurisdiction zone deposits increased by 40%. AndBank Group international business assured 60% of clients’ assets. One of the most liquid deals in 2013 is the acquiring of Banco Inversis retail business in Spain.
See also Andorra banks
See also Andorra business guide
See also Andorra company formation
See also Taxes in Europe
