BancSabadell D’Andorra(one of 5 banks, operating on the territory of Andorra) held annual stockholders meeting, where the financial results of 2013 were summed up and the goals for 2014 were set. In 2014 the management of the bank forecasts “the beginning of slow recuperation after the financial crisis”, as far as “the economic situation has reached its bottom”.
As the General Director of the bank Jose Segura stated, in 2014 we plan to develop actively our network by means of Andorran clients, though assets and investment fund management will remain our top priorities. He claimed “Andorra is our goal, and we intend to expand our presence here”. The preplanned opening of the new office of the bank in Andorra-la-Vella evidently demonstrates it.
The President of BancSabadell that was present at the annual stockholders meeting emphasized the positive dynamics of the development in 2013 and drew the attention of shareholders to 10% growth of the financial resources that are involved in the turnover. The sum of dividend payouts made up 2.38 mln euro (at the price of 4.75 euro per share) in 2013. Consequently, the growth made up 7.9% of the notional value.
As for investment projects loans, the decrease of finances for these purposes made up 5.26%. On the other hand, the volumes of loans for natural and legal persons are increasing. Though, in accordance to the bank forecasts , the demand for loan services will increase due to economic activity intensification. The General Director said that currently the share BancSabadell on the Principality’s market makes up 12-13%, consequently the bank is standing on a long way to success.
BancSabadell is the only bank in Andorra that hasn’t got business abroad.
The article “Banking sector” can be found here