Crèdit Andorrà, SA

Incorporated in 1949, Crèdit Andorrà is now the largest bank in Andorra employing universal banking model to provide a wide range of services - retail, corporate banking and private banking, asset and wealth management as well as financial advising and insurance.

Services

Retail and Corporate Banking
Private Banking
Asset Management
Financial Advisory

Financials

Total Assets (2017)
5 459.92 mln EUR  (-4.58%)
Net Income (2017)
50.56 mln EUR  (-22.27%)
Number of Employees (2015)
813  (+8.40%)

Crèdit Andorrà, SA is the 1st largest bank in Andorra in terms of total assets. In 2017 its total assets were 5 459,92 mln EUR, providing the bank with the market share of 38.60%. In 2017 the bank's net income was 50,56 mln EUR. Crèdit Andorrà, SA had 813 employees in 2015.

Crèdit Andorrà, SA is rated by Fitch. Long-term credit rating assigned to the bank by Fitch is BBB (good credit quality).

Crèdit Andorrà, SA participates in deposit guarantee scheme of Andorra. This scheme covers accounts up to 100 000 EUR per bank per depositor.

Contacts

Av. Meritxell, 80, AD500, Andorra la Vella, Andorra
+376 888000
+376 888021

Crèdit Andorrà, SA is headquartered in Andorra La Vella.

Bank Identifiers

BIC (SWIFT)
CRDAADAD
Founded
21 December 1949

Business Summary

Business Focus
retail banking for residents of Andorra
private banking and asset management for International clients
Services
retail and corporate banking
private banking
asset management
financial advisory
Eligible Clients
natural persons and legal entities

Crèdit Andorrà, SA is focused on retail banking for residents of Andorra, private banking and asset management for International clients. Crèdit Andorrà, SA provides products and services in the areas of retail and corporate banking, private banking, asset management, financial advisory. Crèdit Andorrà, SA makes its solutions available to natural persons and legal entities.

Financial Positions

Total Assets (2017)
5 459.92 mln EUR  (-4.58%)
Total Equity (2017)
421.10 mln EUR  (-36.23%)

In 2017 total assets of Crèdit Andorrà, SA were 5 459.92 mln EUR. Decline compared to the previous period (2016) was -4.58%. The evolution of the total assets of Crèdit Andorrà, SA is shown at Chart 1 below.

Total Assets of Crèdit Andorrà, SA.

Chart 1. Total Assets of Crèdit Andorrà, SA.

Recent changes in total assets of Crèdit Andorrà, SA and its main components are shown in Table 1.

2016 2017 % change
Loans to customers 2 768.8
Bonds and other fixed-income securities 2 040.6
Cash and deposits with Central Banks 325.2 251.3 -22.74%
Financial assets held for trading 40.5 5.5 -86.31%
Available for sale financial assets 333.8 270.1 -19.08%
Loans and advances 2 733.7 2 647.4 -3.16%
Financial assets held to maturity 1 579.1 1 603.4 +1.54%
Total Assets 5 721.8 5 459.9 -4.58%
Table 1. Recent changes in total assets of Crèdit Andorrà, SA (mln EUR).

Recent changes in total liabilities of Crèdit Andorrà, SA and its main components are shown in Table 2.

2016 2017 % change
Customer deposits 4 454.6
Trading financial liabilities 7.2 4.8 -33.83%
Financial liabilities at amortised cost 4 889.1 4 494.0 -8.08%
Total Liabilities 5 721.8 5 459.9 -4.58%
Table 2. Recent changes in total liabilities of Crèdit Andorrà, SA (mln EUR).

Profit and Loss

Gross Profit (2017)
198.99 mln EUR  (-16.86%)
Operating Income (2017)
57.07 mln EUR  (-26.92%)
Net Income (2017)
50.56 mln EUR  (-22.27%)

In 2017 gross profit of Crèdit Andorrà, SA was 198.99 mln EUR. Decline compared to the previous period (2016) was -16.86%. The evolution of the gross profit of Crèdit Andorrà, SA is shown at Chart 2 below.

Gross Profit of Crèdit Andorrà, SA.

Chart 2. Gross Profit of Crèdit Andorrà, SA.

Recent changes in gross profit of Crèdit Andorrà, SA and its main components are shown in Table 3.

2016 2017 % change
Interest Income 83.5 70.2 -15.84%
Interest Charges -33.7 -31.5 -6.46%
Net Interest Income 51.4 42.4 -17.46%
Net Commission Income 130.3 125.5 -3.68%
Gross Profit 239.3 199.0 -16.86%
Table 3. Recent changes in gross profit of Crèdit Andorrà, SA (mln EUR).

In 2017 net income of Crèdit Andorrà, SA was 50.56 mln EUR. Decline compared to the previous period (2016) was -22.27%. The evolution of the net income of Crèdit Andorrà, SA is shown at Chart 3 below.

Net Income of Crèdit Andorrà, SA.

Chart 3. Net Income of Crèdit Andorrà, SA.

Number of Employees

Number of Employees (2015)
813  (+8.40%)

In 2015 there were 813 employees of Crèdit Andorrà, SA. Growth compared to the previous period (2014) was 8.40%. The evolution of the number of employees of Crèdit Andorrà, SA is shown at Chart 4 below.

Number of Employees of Crèdit Andorrà, SA.

Chart 4. Number of Employees of Crèdit Andorrà, SA.

Market Share and Rank (among banks in Andorra)

Total Assets (2017)
1st (market share 38.60%)

In 2017 Crèdit Andorrà, SA was ranked the 1st largest bank in Andorra in terms of total assets, having 38.60% of the domestic market share.

Market share of Crèdit Andorrà, SA (among banks in Andorra)

Chart 5. Market share of Crèdit Andorrà, SA (among banks in Andorra)

Several banks having the market shares and ranks closest to Crèdit Andorrà, SA are shown below.

RankNameTotal AssetsMarket Share
1 Crèdit Andorrà, SA5459.92 mln EUR38.60%
2 Andorra Banc Agrícol Reig, SA (Andbank)4423.24 mln EUR31.27%
3 Mora Banc Grup, SA2577.70 mln EUR18.22%
 

Credit Ratings (as of May 2018)

Fitch Moody's
BBB (good credit quality) - (not rated)

Credit Rating is an opinion of a credit rating agency about credit worthiness of a company or a government. Crèdit Andorrà, SA is rated by Fitch.

Credit ratings assigned to Crèdit Andorrà, SA as of May 2018 are shown in details in the following sections.

Fitch

Long-term issuer default rating is Fitch's view of a credit institution's relative vulnerability to default on its financial obligations, for Crèdit Andorrà, SA it is set to BBB (good credit quality), outlook is stable (not likely to change). The rating is not on watch. Short-term issuer default rating for Crèdit Andorrà, SA is set to F3 (fair short-term credit quality).

Long-Term Issuer Default Rating  BBB
    Outlook  stable
    On Watch  No
Short-Term Issuer Default Rating  F3
Viability Rating  bbb
Support Rating  5
Support Rating Floor  NF

Viability rating for Crèdit Andorrà, SA is set to bbb (good fundamental credit quality); support rating is 5 (there is a possibility of external support, but it cannot be relied upon); support rating floor is NF (no floor; no reasonable presumption of potential support being forthcoming).

Deposit Guarantee

Deposit Guarantee
Yes (up to 100 000 EUR per depositor)

Deposit Guarantee Schemes compensate certain deposits held by depositors of a bank that becomes unable to meet its obligations.

All credit institutions operating in Andorra are obliged to participate in Andorran deposit guarantee scheme.

In the case of Crèdit Andorrà, SA failure, eligible depositors having covered accounts in this bank will be paid out the following compensation:

Eligible Depositors  natural persons, legal entities
Covered Accounts  cash demand deposits, term deposits, deposit certicifates and other similar debt securities
Covered Currencies  all
Maximum Protected Amount  100 000 EUR
Paid In Currency  EUR

Further Information

BIC

BIC (Business Identifier Code, also known as SWIFT code or SWIFT BIC) is a the mostly used international identifier of financial institutions. SWIFT is the registration authority for BICs. BICs are used in financial transactions, client and counterparty data bases, compliance documents and many others.

A BIC consists of eight or eleven characters, comprising a financial institution code (four characters), a country code (two characters), a location code (two characters) and, optionally, a branch code (three characters).

BIC of Crèdit Andorrà, SA and its components are shown in the table below.

BIC  CRDAADAD
Bank BIC Code  CRDA
Country Code  AD (Andorra)
Location Code  AD
Branch Code  -