In accordance to “The Banker” magazine Andbank was named as the best banking institution of Andorra in 2014

In accordance to “The Banker” magazine Andbank, Andorra (Pyrenees), was named as the best banking institution of Andorra in 2014, reports FT.

It is remarkable that last month “The Banker” magazine called Andbank the best bank of Andorra in the sphere of private banking.

The choice was determined by many years of successful work of the bank on financial market of Andorra and other countries as well as by the liquidity ratio and paying capacity. In accordance to Fitch rating agency, the rating of Andbank has remained at A level since the August of the previous year.

Andbank keeps on demonstrating the growth of volumes of assets under management – this sum makes up 13 473 mln. In particular, in the period from January till October the growth made up 17.8% in comparison to the previous year. This tendency remains stable in the fourth quarter. This became the winning factor for the decision to award the title of “The best banking institution of Andorra”. This title demonstrates the fact that Andbank has proved itself to be a new financial leader of Andorra—says the report of “Financial Times”.

For the profitability security of its clients, Andbank implements active expansion of foreign markets. The net profit of the bank in 2013 made up 64.1 mln euro, which demonstrated 13.3% growth in comparison to 2012. This growth became possible thanks to the consolidation of banking model and successful business development within the bounds of international jurisdictions.