Incorporated in 1958 under the name of Banca Coma, it changed its name to Banc Internacional d’Andorra, SA in 1970 and to Mora Banc Group, SA in November 2011. MoraBanc Grup offers services in commercial banking, private banking and asset management, investment banking, wealth management and investment funds, and insurance, in addition to offering its customers differentiated and exclusive products. Mora Banc Grup and Mora Banc, SAU operate together under the MoraBanc brand name and they present their financial statements and other data in a consolidated manner.
Due to regulatory requirements Mora Banc Grup, SA performs KYC/AML checks when establishing business relationships with a new client. While onboarding a private individual Mora Banc Grup, SA will ask him/her to provide the following documents: passport, ID card, utility bill, employment contract, wage slip, tax return, bank reference, bank statement. For corporate clients Mora Banc Grup, SA will ask to provide corporate documentation as well as information about controlling persons. Mora Banc Grup, SA may request additional documentation or information depending on the case.
Mora Banc Grup, SA is the 3rd largest bank in Andorra in terms of total assets. In 2018 its total assets were 2 787,97 mln EUR, providing the bank with the market share of 19.96%. In 2018 the bank's net income was 24,06 mln EUR. Mora Banc Grup, SA had 399 employees in 2015.
Mora Banc Grup, SA is rated by Fitch. Long-term credit rating assigned to the bank by Fitch is BBB- (good credit quality).
Mora Banc Grup, SA participates in the deposit guarantee scheme of Andorra. This deposit guarantee scheme applies to any credit balance on a bank account made by natural persons (Andorran and foreign), legal entities (Andorran and foreign) and covers up to up to 100,000 EUR per bank per depositor. Mora Banc Grup, SA is a member of Andorran Deposit Guarantee Fund (FAGADI) and makes its contributions into it.
Mora Banc Grup, SA is headquartered in Andorra La Vella.
Mora Banc Grup, SA is authorized and supervised by the Andorra Financial Authority (reference number EB 06/95).