Andbank consolidates its position in the complex network of private banking in Catalonia. And it does so with the best results in its ten years of experience, not only in the Catalan market, but also in the global Spanish market. At the end of 2021, the entity increased its business volume in Catalonia by 60%, reaching 5,267 million euros. This represents 30% of the bank's total, with a total figure of 17,307 million euros.
The good performance of Andbank in Catalonia is based on four solid arguments, within a favorable context in which private banks have enjoyed good opportunities to boost their businesses with the strengthening of the regulatory framework. And all this despite the climate of global uncertainty that prevails in recent times. These four reasons addressed by the company are, on the one hand, the increase in customer positions; on the other, the incorporation of twenty new bankers and agents –in a dynamic market with numerous movements experienced during 2021–.
Andbank also explains its growth due to the integration of the Degroof Petercam Spain portfolio, an operation that completed one year last February and which involved the incorporation of more than a thousand clients and a turnover of close to 1,350 million euros. The revaluation of the portfolios, with an average of 6%, is another of the reasons pointed out by the bank in this year of record figures. "Our differentiation comes from the enormous talent that we have in our team, as well as from the wide range of investment products that we make available to our clients with an honest and close approach," says Carlos Aso, CEO of Andbank.
On the global stage, the group closed last year with a turnover of 32,700 million euros, 20.5% more than in the previous period. The profit amounted to 27 million euros, in a context marked by the aforementioned integration of Degroof Petercam Spain, the development of the MyInvestor neobank and the promotion of the professional team in the different national and international action places. The record pace compared to the year of 2020 led him to add 5,580 million euros, of which 90% corresponds to assets under management and the remaining 10% to credit investment, they explain from Andbank.
During 2021, with the consolidated entity among the most outstanding private banks in Spain according to the Funds People ranking, the group highlights the "good reception" of alternative investment vehicles among high net worth individuals, "a very dynamic area", they assure from the company. Last year, Andbank exceeded 1,000 million euros of investment in debt, infrastructure and real estate projects, among others.
From the group itself they also emphasize the recent launch of the venture capital fund Actyus Fintech I, whose volume is 60 million euros and will promote investment in fintech companies in the markets of Europe, Latin America and the United States.
The entity has 23 private banking centers and 119 financial agents in Spain. In the Catalan square, Andbank has strengthened its presence in recent years with physical centers in Barcelona and Girona and agents in the four provinces. In the capital, Andbank has established one of its private banking centers in the mansion at 464 Diagonal Avenue, where it has transferred its activity, which it carried out until recently in its offices on Passeig de Gràcia. Until a few months ago, the building, designed by the architect Enric Sagnier, housed the central offices of Degroof Petercam in the city.
Andbank has promoted support for research in the fight against cancer, one of the lines of action in its corporate responsibility plan. In this regard, the Group has continued to support the SJD Pediatric Cancer Center in Barcelona, the FERO Foundation and CRIS against Cancer through its Global Sustainable Impact investment fund.
