MoraBanc closes a record-breaking 2024, which saw strong growth and consolidation in international markets, especially in Spain, where it purchased the securities company Tressis. Following this acquisition, more than half of the managed resources originate from its subsidiaries in Spain, Switzerland and the United States. The institution has reached a total of €18.436 billion in assets under management (AUMs), which constitutes a 67% increase on the previous year. MoraBanc's profits grew by 12% in 2024, reaching €57.7 million. The annual accounts will be submitted for approval at the next General Meeting of Shareholders, which has been scheduled for 30 April.

These figures mean that MoraBanc has fulfilled the objectives of its Strategic Plan 22-24. In this three-year period, €30 million have been invested in projects to improve all areas of the Group and the quality of customer service. Digitisation improvements have driven growth in digital operations by more than 250% in the last three years. 2024 has seen record figures, with more than 8 million logins and one million operations carried out. These numbers show how MoraBanc's digital bank is being accepted by clients who value a banking environment that speeds up banking transactions, helping them save time. The bank's commitment towards innovation is demonstrated by rolling out products that were not available in Andorra, such as BIZUM for Companies, Google Pay or its pioneering services related to digital assets, making it the only bank authorised to offer these services in Andorra.

Key figures for a robust and solvent group

The 2024 results also reveal an ongoing improvement in the main financial indicators. Return on equity (ROE) has risen from 14.17% in 2023 to 15.04% in 2024, while ROTE has increased substantially from 15.31% to 17.27%, illustrating the efficiency of MoraBanc's business model. At the same time, solvency remains high, at 19.47% (CET1 fully loaded), making the institution's balance sheet even stronger. Liquidity (LCR) has reached 301.23% in 2024, which highlights MoraBanc's ability to operate with a robust balance sheet and confidently face the challenges of the market. Loan book operations have grown by 4% to €1.509 billion,

strengthening a quality portfolio, with a non-performing loan ratio that has fallen to 2.33%, and reaffirming the Group's commitment to financing personal and business projects.

Joan Maria Nin, MoraBanc chairman

“MoraBanc's growth in 2024 consolidates our long-term vision and our ability to navigate a complex global environment. We have managed to strengthen our position while staying true to our values: solidity, prudence and a firm commitment to our clients. The rise in assets under management and the ongoing improvement in our financial results prove that our business model remains effective and sustainable, empowering us to face the future with confidence and ambition”.

Lluís Alsina, MoraBanc CEO

“MoraBanc's results point to a clear and well-executed strategy. Key milestones include the incorporation of Tressis and the acquisition of Banco Europeo de Finanzas (BEF), pending regulatory approval, both of which will enable us to expand our value proposition and strengthen our presence in Spain. Combining organic and inorganic growth, we continue to make steady progress, with a view to maintaining profitable growth and remaining a benchmark bank both in Andorra and in the international market”.

Tressis and BEF: major milestones reached in 2024

A key operation in the last financial year was the formalisation of Tressis' entry into the shareholding structure, when the MoraBanc Group acquired 82.98% of its capital. This operation has allowed MoraBanc to grow its assets to €18 billion.

Meanwhile, MoraBanc also closed a significant deal in 2024 to purchase 100% of Banco Europeo de Finanzas S.A. (BEF) from its sole shareholder, Unicaja S.A. Subject to the corresponding regulatory approvals, this deal will mark MoraBanc's entry into the Spanish banking market as a banking institution. 

Assets under management and profits have risen by 129% and 92% respectively over the last five years

MoraBanc's steady growth remains one of its greatest strengths, with a positive trend consolidated over the last five years. Since 2020, the institution's assets under management (AUMs) have increased by 129%, from €8.005 billion to €18.436 billion in 2024. The trend has been equally strong in terms of profitability: net profit has grown by 92% in this period, rising from €30.1 million in 2020 to €57.7 million in 2024.