Crèdit Andorrà (Creand) is a privately-owned financial group of the Principality of Andorra, founded in 1949. Crèdit Andorrà bank focuses on commercial, private banking, and asset management on an international scale, in addition to insurance offerings. Currently, Credit Andorra is one of the largest Andorran banks that provides a wide range of services. In Crèdit Andorrà had more than €5 billion assets under management.
Crèdit Andorrà SWIFT/BIC code and Address
Head Office: Edifici Crèdit Centre, Avenida de Meritxell, No. 80, Andorra la Vella. AD 500
Phone: +376 88 86 00
SWIFT/BIC Code: CRDAADADXXX
Crèdit Andorrà Details
The Crèdit Andorrà Financial Group is instrumented in four international banking groups – Crèdit Andorrà, the parent company; Banco Alcalá, in Spain; Banque de Patrimoines Privés, in Luxembourg, and Banco Crèdit Andorrà in Panama – with asset management and insurance services complementing the rest of the financial business. In 2016 the group was present in Andorra, Spain, Luxembourg, Switzerland, Miami, Panama, Mexico, Peru, and Chile. In 2017, the group obtained a net profit of €50.1 million.
In 2005, Crèdit Andorrà acquired the financial institution CaixaBank Andorra, a subsidiary of Spanish “la Caixa” in Andorra, and integrated it into Crèdit Andorrà. In 2011, the company acquired 85% of the Spanish bank Banco Alcalá, a bank focused on global wealth management for private and institutional clients, with offices in Madrid (Banco Alcalá headquarters) and Barcelona.
In 2015, the financial publication Global Banking & Finance Review recognized Crèdit Andorrà as the best private banking institution in Andorra for the third consecutive year. The same year, as a consequence of the new operating environment in Andorra after the crisis of Banca Privada d’Andorra (check documentary – The Andorra Hustle), the risk rating agency Fitch downgraded the rating of Credit Andorrà from “A-“, equivalent to a notable downgrade, to “BBB”, equivalent to an approved rating.
Crèdit Andorrà becomes Creand
Creand will be the new name of the Crèdit Andorrà Group in 2021 for all banking divisions located in Andorra, Spain, Luxembourg, and the United States. The change of nomenclature aims to strengthen the presence in the different markets thanks to the unification of the brand.
In Spain, the group had been operating since 2011 under the name of Banco Alcalá, which will become Creand Wealth Management. Likewise, the Gesalcalá asset management company will be renamed Creand Asset Management. The name will also change for the entities that until now operated in Luxembourg under the name Banque de Patrimoines Privés and in the United States under the nomenclature of Capital Wealth Management.
The unity of criteria in the new brand will achieve the consolidation of the Crèdit Andorrà group’s financial centers and, of course, will increase its leadership in the principality. The modernization, specialization, and digitalization of the banking business are at the heart of its assets with customers, in addition to the social commitment that the banking group has always shown.
Creand with 900 employees worldwide will continue to accelerate the development of alliances, secondly, focus on digital transformation and innovation, and thirdly, will continue with the line of specialization of products and services to be more different and achieve greater added value.