The entity specialized in private banking of the Crèdit Andorrà group in Spain, Creand Wealth Management (Banco Alcalá), closed last year with an increase in its business volume of 38 percent, which meant reaching the figure of 3,429 million euros . This figure places the bank among the benchmarks in the field of private banking and wealth management in Spain. The benefit registered in 2022 amounted to 435,000 euros.
This good evolution of the business is explained by an organic growth of 484 million euros, a figure that stands out in a context of falling market. Added to this organic growth were 641 million euros from the integration of GBS Finance's high net worth advisory business and family office, which led to the creation of the new Family Office area. This division allows Creand Wealth Management to reinforce its comprehensive service approach to clients, independent, close and aligned with their interests.
The strength of Creand Wealth Management's business model is also reflected in its high solvency and liquidity ratios, which at year-end stood at 25.07% and 183.17%, respectively. Likewise, the entity has the objective of achieving a business volume of 5,000 million euros by the end of 2024. To do this, it must continue to bet on consolidating its strategy, based on the achievement of alliances. It also contemplates reinforcing the improvement in the capacity of customer service, the continuous specialization -both of the team and of the products and services- and also the promotion of digitization.
Creand Wealth Management incorporated five new private bankers to its staff, which meant an increase in its sales team to 38 professionals, 22 in Madrid, 10 in Catalonia and 6 in Valencia. The purpose for this year is to incorporate six new bankers. The global workforce of the bank in Spain reaches 103 employees.
The behavior of the business in the Barcelona and Valencia divisions is notable. In the Catalan capital, deposits exceeded 1,000 million euros for the first time in history, after growing by 13 percent and closing last year with 1,021 million. In Valencia, 330 million were reached after an increase of 34 percent.
In the opinion of Marcos Ojeda, the bank's managing director in Spain, "2022 was an exceptional year for us despite the market circumstances, thanks to the fact that we were able to adapt to the needs of customers and also to the teams of experts with whom we count and who offer an impeccable service”. Likewise, the chief executive of the entity indicated that "this last year we have generated growth and we have consolidated our role as a benchmark firm in asset management and advisory, which is our main activity." The fact of belonging to an international group with extensive experience and the promotion of the new brand, Creand Wealth Management, "are two attractions to consolidate ourselves in private banking, attract talent and build loyalty with our customers," added Ojeda.
