This number could reach as high as 1,650.
The bank’s profits dropped by 99.7% in 2020 compared to a year prior, something it attributed to the Covid-19 crisis, the sale of troubled Caja Mediterráneo assets, and its restructuring plan in Spain and the United Kingdom. It also held unsuccessful merger talks with BBVA.
Founded in the Catalan …
MoreMorabanc (MoraBanc) has combined its strategy and investment teams into a new department that will optimize customer service. This new, more flexible structure will be responsible for attracting investment services professionals, who will help clients manage their savings, investments or assets according to their needs.
“Thanks to a recent agreement with Goldman Sachs Asset Management, Morabanc …
MoreThroughout the autumn, the Andorran parliament will continue to consider draft laws related to the regulation of the financial and banking activities of the principality. The purpose of the laws is to fulfill the requirements arising from the Monetary Agreement signed in 2010 between Andorra and the European Union.
These requirements should be explained to banks …
MoreFitch Ratings has affirmed Andorra’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘BBB+’. The Outlook is Stable.
A full list of rating actions is at the end of this rating action commentary.
Under EU credit rating agency (CRA) regulation, the publication of sovereign reviews is subject to restrictions and must take place according to a published schedule, …
MoreJuan Hernando, manager of MoraBanc, is recognized as one of the 10 best banking employees in Spain. These data are presented in the ratings of the magazine “Funds People”. The 40 financial companies and investment institutes participated in the rating. This year it has attracted more than 400 votes – a record number in the …
MoreThe Council of Ministers of Andorra approved a provision on payment services and electronic money. The document implies the introduction of European rules and standards applicable to payment service providers. First of all, we are talking about cross-border payments between Andorra and the member states of the European Union, as well as technical requirements for …
MoreFitch Ratings has affirmed Andorra’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘BBB’. The Outlook is Positive.
A full list of rating actions is at the end of this rating action commentary.
KEY RATING DRIVERS
Andorra’s ratings reflect the following key rating drivers:
The country’s wealth, relatively strong public finances and political stability are balanced by the economy’s small …
Morephoto: govern
Vall Banc and the Ministry of Education of Andorra signed an agreement on financing the training program for Andorran students at the Massachusetts Institute of Technology (MIT). The corresponding agreement was signed by the Minister of Education of Andorra Eric Jover and CEO of Vall Banc Michael Johannes Christner.
The agreement provides for …
MoreMoraBanc and Vall Banc signed an insurance agreement. According to the agreement Morabanc plans to to acquire Vall Bank’s insurance portfolio in the field of life and health insurance, as well as the implementation of the corresponding lending operations.
This agreement, signed on Monday, November 27, is now to be approved by the Ministry of Finance of …
MoreThe government of Andorra issues bonds worth a total of 100 million euros to refinance the public debt.
The bonds will be issued in two tranches: 50 million euros each.
The final release terms are as follows:
Issuer: The Government of the Principality of Andorra
Number of shares issued: 100,000
Instrument Category: Zero Coupon
Forms of promissory notes: 18 months
Fixed interest …
