In the course of 2007-2008, Crèdit Andorrà has maintained its leadership in the Andorran market with a market share of 37% and has strengthened its position of the group within the international financial system. The group’s net return on equity rose to 25.31% and the dividend pay-out was up 73.4%, some 20% higher than the previous year.
The bank launched its 2007-10 strategic plan with the objective of further strengthening its competitive position in traditional banking businesses, while developing new businesses and promoting international growth. To this end, Crèdit Andorrà has set up Valira Capital Asset Management in Madrid, in which the Andorran bank holds a 60% stake. This was the first Andorran financial entity to be authorised by Spain’s National Securities Commission. This move has enabled the group to achieve further international expansion, following its launch of Private Investment Management, a property management company in Switzerland, and the investment fund management company Creditinvest SICAV, headquartered in Luxembourg.
The bank is seeking higher value added in customer services through new products and services. Another objective is to consolidate the management of business models for private and commercial banking, and to bring together the monitoring and control of operational risk in line with directives issued by international bodies.
