Vall Banc ends 2018 with over 10 million euros invested, and profits of 2 million

Vall Banc estats financers

Escaldes-Engordany, 26 April 2019.- Vall Banc ended the 2018 financial year with over 10 million in investment and 2 million in profits. The financial statements are a reflection of the effort to implement the bank's strategic vision: offering Wealth Management with international strength and the simple but efficient Banca País - Easy Banking service.

The bank aims to maintain an investment commitment through projects such as renovating main branches (Plaça Rebés and Carrer de la Unió) and their headquarters, the digital transformation of Wealth Management services and international partnerships. In this vein, the agreements to offer an independent, transparent and top-flight international service put into place in 2018 are particularly important. Highlights include the agreement to make Vall Banc the first in southern Europe to use Aladdin in order to improve portfolio management, risk management and scenario analytical capacity.
In this way, the bank closed the financial year with 2.066 million euro in managed assets, 607 million in deposits and 390 million in loans, with regulatory total capital of 122 million euros. 

These figures sit alongside the bank's solvency ratio, which stood at 28.61% (the figure with the new Andorran law equivalent to the European is 23.30%, above average for European banks), and the liquidity ratio, which rose to 59.65%. 

The 2018 activities also highlight the bank's commitment to society and activities carried out in Andorra. The bank has maintained its firm partnership in the fight against cancer, boosting its ties to the Andorra Association against Cancer and getting involved in two additional specific activities. Vall Banc also sponsored different sporting events, including the World Padel Tour through the Vall Banc Open Andorra and the Santa Coloma Football Club. Upholding its commitment to society also involves promoting educational activities to provide support to students through projects such as MISTI (a joint initiative from the Government of Andorra and the Massachusetts Institute of Technology), Startup Grind from Google and French culture.

On a more financial front, Vall Bank has signed the UN Principles for Responsible Investment (PRI) with a commitment to implement a responsible investment framework to comply with environmental, social and good governance (ESG) standards. The new Vall Banc Wealth service and the skills provided by the bank mean portfolios can be set up that fully comply with these standards.