Andorra la VellaCreand Crèdit Andorrà has once again been recognized as the Best Private Bank in Andorra by the Financial Times group, specifically by the financial publications Professional Wealth Management (PWM) and The Banker. These awards are given annually and are a benchmark among the international financial community.
Creand Crèdit Andorrà has received this award “for its good financial results, its ability to innovate, both in products and services, as well as for the initiatives that promote progress in the field of sustainability and digitization”, explains the decision of the awards jury. The director of the Andorran Banking Business area of Creand Crèdit Andorrà, Martí Alfonso, emphasized that “this award is a recognition of the work of the entire bank’s internal team that works to improve the service we offer on a daily basis client, a model based on specialization, personal advice and global estate planning. Our aim is to respond to the new needs that the market is asking for by betting on offering new services, incorporating digitization and sustainability understood from transversal way, and also ensuring that our action contributes to the social and economic development of clients and the country,” he explained.
The recognition received highlights the value provided by the specialization strategy that drives the bank’s business model, with new products in the field of alternative assets, value-added services in wealth management and generational succession , or the acceleration of the digital strategy with the use of predictive models of artificial intelligence to adapt more and better to the needs of the client and in this way optimize the personalization in the manager-client relationship.
The award is also the result of the bank’s commitment to innovation as an internal and transversal strategy, which acts as a vector of transformation. In the external field, efforts have been focused on promoting value projects for the business and entrepreneurial fabric, such as the Innovation Hub, which brings together companies and ‘start-ups’ to find ways of growth in their respective businesses.
The new initiatives carried out in the field of sustainability, such as the entry into the national market of carbon credits with the installation of plants of own production of electrical energy through photovoltaic panels, or the issuance of the first green, social and sustainable good by an Andorran financial institution, are projects that have also earned the recognition of the Financial Times group. Among these valued projects is also the decision to enhance sustainability governance at the bank, with the creation of the Sustainability Unit, which has provided the entity with the necessary structure to define the road map for a committed bank and achieving ambitious goals such as driving the incorporation of ESG (environmental, social and governance) aspects into operations and decisions.
The Creand group closed 2023 with a profit of 71.3 million euros, 60.05% more than in 2022, and a business volume that increased to 27,620 million euros, which represents a 10 .47% growth.