Mora Banc Grup, SA

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 is the third-largest bank in Andorra. 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. This page contains consolidated data of Mora Banc Group, SA and Mora Bank, SAU.

Services

Retail and Corporate Banking
Private Banking
Asset Management
Financial Advisory

Financials

Total Assets (2017)
2 577.70 mln EUR  (+14.36%)
Net Income (2017)
23.52 mln EUR  (+2.22%)
Number of Employees (2015)
399  (+8.42%)

Mora Banc Grup, SA is the 3rd largest bank in Andorra in terms of total assets. In 2017 its total assets were 2 577,70 mln EUR, providing the bank with the market share of 18.22%. In 2017 the bank's net income was 23,52 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 deposit guarantee scheme of Andorra. This scheme covers accounts up to 100 000 EUR per bank per depositor.

Contacts

Av. Meritxell, 96, AD500, Andorra la Vella, Andorra
+376 884488
+376 884499

Mora Banc Grup, SA is headquartered in Andorra La Vella.

Bank Identifiers

BIC (SWIFT)
BINAADAD
Founded
17 June 1958

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

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

Financial Positions

Total Assets (2017)
2 577.70 mln EUR  (+14.36%)
Total Equity (2017)
277.25 mln EUR  (-9.40%)

In 2017 total assets of Mora Banc Grup, SA were 2 577.70 mln EUR. Growth compared to the previous period (2016) was 14.36%. The evolution of the total assets of Mora Banc Grup, SA is shown at Chart 1 below.

Total Assets of Mora Banc Grup, SA.

Chart 1. Total Assets of Mora Banc Grup, SA.

Recent changes in total assets of Mora Banc Grup, SA and its main components are shown in Table 1.

2016 2017 % change
Loans to customers 1 004.5
Bonds and other fixed-income securities 662.3
Cash and deposits with Central Banks 43.0 31.6 -26.52%
Financial assets held for trading 223.4 194.8 -12.80%
Available for sale financial assets 335.1 419.8 +25.27%
Loans and advances 1 502.1 1 360.3 -9.44%
Financial assets held to maturity 31.6 66.4 +110.15%
Total Assets 2 253.9 2 577.7 +14.36%
Table 1. Recent changes in total assets of Mora Banc Grup, SA (mln EUR).

Recent changes in total liabilities of Mora Banc Grup, SA and its main components are shown in Table 2.

2016 2017 % change
Customer deposits 1 806.4
Trading financial liabilities 18.5 16.2 -12.51%
Financial liabilities at amortised cost 1 767.7 1 740.0 -1.57%
Total Liabilities 2 253.9 2 577.7 +14.36%
Table 2. Recent changes in total liabilities of Mora Banc Grup, SA (mln EUR).

Profit and Loss

Gross Profit (2017)
88.81 mln EUR  (-13.86%)
Operating Income (2017)
24.93 mln EUR  (-17.85%)
Net Income (2017)
23.52 mln EUR  (+2.22%)

In 2017 gross profit of Mora Banc Grup, SA was 88.81 mln EUR. Decline compared to the previous period (2016) was -13.86%. The evolution of the gross profit of Mora Banc Grup, SA is shown at Chart 2 below.

Gross Profit of Mora Banc Grup, SA.

Chart 2. Gross Profit of Mora Banc Grup, SA.

Recent changes in gross profit of Mora Banc Grup, SA and its main components are shown in Table 3.

2016 2017 % change
Interest Income 28.1 26.9 -4.16%
Interest Charges -5.1 -5.9 +15.31%
Net Interest Income 24.4 21.2 -13.07%
Net Commission Income 71.2 54.8 -23.02%
Gross Profit 103.1 88.8 -13.86%
Table 3. Recent changes in gross profit of Mora Banc Grup, SA (mln EUR).

In 2017 net income of Mora Banc Grup, SA was 23.52 mln EUR. Growth compared to the previous period (2016) was 2.22%. The evolution of the net income of Mora Banc Grup, SA is shown at Chart 3 below.

Net Income of Mora Banc Grup, SA.

Chart 3. Net Income of Mora Banc Grup, SA.

Number of Employees

Number of Employees (2015)
399  (+8.42%)

In 2015 there were 399 employees of Mora Banc Grup, SA. Growth compared to the previous period (2014) was 8.42%. The evolution of the number of employees of Mora Banc Grup, SA is shown at Chart 4 below.

Number of Employees of Mora Banc Grup, SA.

Chart 4. Number of Employees of Mora Banc Grup, SA.

Market Share and Rank (among banks in Andorra)

Total Assets (2017)
3rd (market share 18.22%)

In 2017 Mora Banc Grup, SA was ranked the 3rd largest bank in Andorra in terms of total assets, having 18.22% of the domestic market share.

Market share of Mora Banc Grup, SA (among banks in Andorra)

Chart 5. Market share of Mora Banc Grup, SA (among banks in Andorra)

Several banks having the market shares and ranks closest to Mora Banc Grup, SA are shown below.

RankNameTotal AssetsMarket Share
2 Andorra Banc Agrícol Reig, SA (Andbank)4423.24 mln EUR31.27%
3 Mora Banc Grup, SA2577.70 mln EUR18.22%
4 Vall Banc, SAU (new)910.81 mln EUR6.44%
 

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. Mora Banc Grup, SA is rated by Fitch.

Credit ratings assigned to Mora Banc Grup, 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 Mora Banc Grup, 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 Mora Banc Grup, 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 Mora Banc Grup, 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 Mora Banc Grup, 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 Mora Banc Grup, SA and its components are shown in the table below.

BIC  BINAADAD
Bank BIC Code  BINA
Country Code  AD (Andorra)
Location Code  AD
Branch Code  -

European Presence: 2 banks in 1 country

Mora Banc Grup, SA operates under the brand name MoraBanc. This banking brand has presence in the following European countries and selected dependent territories of the European countries:

Andorra