Juan 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 …More
The 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 …More
Fitch 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 …More
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 the …More
MoraBanc 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 …More
The 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 …
The National Institute of Finance of Andorra (INAF) will acting as a guarantor, regulator and controller of the insurance sector of the Principality. This decision was taken by the Council of Ministers of Andorra. The corresponding proposal was introduced by the Minister of Finance of the Principality Jordi Cinca.
The corresponding amendments to the law on …More
A two-day international financial summit with the participation of more than 200 representatives of banks and financial institutions of Europe and the USA has been opened in Andorra today. The main goal of the event is to tell the international community about the latest changes in the financial and tax system of Andorra on the …More
Standard & Poor’s has improved Andorra’s sovereign rating from “BBB- / A-3” to “BBB / A-2” in the long-term and short-term, and maintains a stable outlook. The rise of the rating shows a recovery of the country’s economy after the crisis with the BPA bank, as a result of which the rating was reduced to …More
Fitch Rating agency keeps Morabanc’s rating at BBB with stable outlook. This rating is maintained by bank for the second year.
According to Morabanc, the bank was able to maintain the rating largely thanks to a serious transformation and the establishment of new rules, which include investments in the development of new banking digital technologies, the …More