Basic information
Creand Crèdit Andorrà (full name: Creand Crèdit Andorrà) is a privately owned commercial bank founded in 1950 with headquarters in Lavinia, Andorra, with its address at 80 Avenida de Meritxell, AD 500. Founded by a group of Andorran entrepreneurs, the bank was originally known as Crèdit Andorrà and has adopted the Creand brand since 2020 to reflect its internationalization strategy. Creand Crèdit Andorrà is a private company owned entirely by private shareholders whose specific shareholder information is not disclosed, but its family-owned management model ensures flexibility and long-term stability in decision-making.
Creand Crèdit Andorrà has a service throughout Andorra, with 11 physical branches and 5 automated branches, located in the main towns of Andorra, such as Lavinia, Escaldes-Engordany, Canillo, Encamp, La Massana, Ordino and Sant Julià de Lòria. The network of ATMs is widely distributed in the dioceses of Andorra, providing customers with convenient cash deposits and withdrawals. The bank also has branches in Spain (Banco Alcalá), Luxembourg (Creand Wealth & Securities), Miami (Creand Wealth Management) and Panama (Banco Crèdit Andorrà), serving high-net-worth clients and corporations around the world.
In terms of regulation and compliance, Creand Crèdit Andorrà is strictly regulated by the Andorran Financial Authority (AFA), which ensures that its operations comply with international and local financial regulations. The Bank's participation in the Andorran Deposit Guarantee Fund (FAGADI) provides deposit protection of up to €100,000 per depositor, up to €300,000 in exceptional cases (e.g. real estate transactions, marriage, retirement, etc.), in accordance with Law 20/2018 of 13 September 2018. There have been no major compliance issues in the near future, but in 2024, banks will receive some attention due to Russia-related sanctions, and customers need to pay attention to the compliance dynamics of their international business.
Financial health
Creand Crèdit Andorrà's financial performance underscores its solid position as a leading bank in Andorra. In 2024, banks achieved a net profit of 70.9 million euros, the same as in 2023, despite a decrease in market interest rates. Its business volume reached 30,682 million euros, up 11.1 percent year-on-year, thanks to excellent portfolio management and positive financial market performance. Customer resources increased by 12.1 percent to 27.9 billion euros and credit investments increased by 2 percent to 2,782 million euros. The international business contributed 16 million euros and the insurance business contributed 5.7 million euros.
In terms of key financial indicators, Creand Crèdit Andorrà has a Capital Adequacy Ratio of 18.32%, which is significantly higher than regulatory requirements, indicating a solid capital base. The Liquidity Coverage Ratio (LCR) is 168.49%, well above the minimum requirement of 100%, indicating that it is liquid enough to cope with market volatility. The average non-performing loan ratio of the Andorran banking sector in 2023 is 4.9%, and Creand Crèdit Andorrà, as the leading bank, is expected to be below this level.
Deposit & Loan Products
Creand Crèdit Andorrà offers a wide range of deposit and loan products to meet the needs of different customers.
Deposit products:
- Demand deposits, such as Current Account and Salary Account, are suitable for daily expenses and have high flexibility, but with lower interest rates.
- Fixed deposits: offer higher interest rates with maturities ranging from months to years, making them suitable for long-term savings.
- High-Yield Savings Accounts: Includes the "Teens Creand" account, which offers free account management and card services for younger customers.
Loan Products:
- Mortgages: Support first-time buyers and real estate investments with flexible repayment terms and competitive interest rates. Customers who refer a friend to apply for a new mortgage can get a permanent discount of 0.15%.
- Car loans: provide financial support for car purchases, with fast approval and competitive interest rates.
- Personal Line of Credit: Used for consumer needs such as home renovation and travel, it offers fast approval and flexible repayment options, such as early repayment or adjustment of repayment terms.
- Corporate loans: to support the financing needs of small and medium-sized enterprises and large enterprises, especially in the local Andorran market.
Digital service experience
Creand Crèdit Andorrà's digital services are one of its core competencies, with its Creand Online Banking platform and mobile banking app (Creand App) providing customers with convenient financial management tools. The Creand App is available for iOS and Android devices, and features include:
- Account management: check balances, transaction history
- Real-time transfers: Domestic and international (SEPA) transfers are supported
- Bill Payment: Pay bills such as utility bills
- Investment Instruments: Track a portfolio of securities and support trading in more than 500 securities in Spanish, European and US markets
- Biometric login: support face recognition and fingerprint login
- Push notifications: real-time reminders of transactions and security information
- Bizum service: support instant payment
- Cybertargeta virtual card: for secure online shopping
In 2024, 59% of customers use digital channels, 57% of online transactions are completed via mobile devices, and the average monthly online transaction volume exceeds 120,000. The Creand App App is available for download on Google Play and the App Store, user ratings are not disclosed, but its feature-rich and user-friendly design earned it the "Best Digital Bank in Andorra" award in 2024.
Quality of Customer Service
Creand Crèdit Andorrà offers multi-channel customer service that ensures customers receive support at all times, including:
- 24/7 phone support: +376 88 88 88
- Live chat: via [contact page]( https://creand.ad/persones/en/contact/) provide live support
- Social Media Responses: via [Facebook](https://www.facebook.com/creandca) and [ LinkedIn](https://ad.linkedin.com/company/creandca) Quick Response
Customers can submit feedback or complaints through the official website, and the bank promises to process them quickly. Since Creand Crèdit Andorrà operates in multiple countries, its customer service is available in multiple languages, including English, Spanish, French, and Catalan, making it suitable for cross-border customers.
Safety and security measures
Creand Crèdit Andorrà's security measures include:
- Security of funds: Participate in the FAGADI Deposit Guarantee Scheme with a maximum guarantee of €100,000 and up to €300,000 in exceptional cases.
- Anti-fraud technology: Prevent financial fraud and money laundering with real-time transaction monitoring, biometric authentication (face or fingerprint), and push notifications. In 2024, banks choose NICE Actimize's anti-money laundering solutions, including Suspicious Activity Monitoring (SAM), Customer Due Diligence (CDD-X), and Watchlist Screening (WL-X), to further enhance their compliance capabilities.
- Data Security: Adhere to strict privacy policies and use encryption technology and security protocols to protect customer data. The bank has obtained ISO 9001:2015 quality certification, which demonstrates its high standards in management processes.
Featured services and differentiation
Creand Crèdit Andorrà is known for its private banking and wealth management services in the Andorran banking sector. Featured services include:
- Teen Account: The "Teens Creand" package, for customers aged 12-17, offers a free current account, online banking, Visa debit card and Bizum services that parents can monitor.
- Green financial products: In 2023, the bank established a sustainability department and partnered with Clarity AI to launch investment products that support ESG (environmental, social and governance) principles, such as sustainable investment funds.
The bank also demonstrates social responsibility by sponsoring sports activities such as skiing, tennis, canoeing and golf, and social projects such as the Creand Fundació, with a community investment of 3.67 million euros in 2024.
Market Position & Accolades
Creand Crèdit Andorrà is Andorra's leading bank, ranking first in terms of customer resources (€10.33 billion) and credit investment (€2.474 billion). In 2024, its business volume reached 30,682 million euros, consolidating its market leadership. The bank has received several international awards, including:
- "Best Digital Bank in Andorra" 2024 (Global Banking & Finance Review)
- "Best CSR Bank in Andorra" 2024 (Global Banking & Finance Review)
- "Andorra Bank of the Year" (The Banker) 2024
- "Best Private Bank in Andorra" (The Banker) 2024
These awards highlight the bank's excellence in the areas of digitalization, sustainability and customer service.
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Conclusion
Creand Crèdit Andorrà is a long-established and comprehensive commercial bank, known for its leadership in Andorra's financial markets and its international outlook. Banks offer a wide range of financial products and services, particularly in the areas of private banking, wealth management and digital services. Through a solid financial foundation, advanced digital capabilities, and high-quality customer service, Creand Crèdit Andorrà provides customers with a secure, convenient and efficient financial experience. Despite the challenges posed by international sanctions and the economic environment, the bank's professionalism and innovative spirit ensure that it remains ahead of the curve in a competitive financial market. Clients should pay attention to the latest financial data and policies when making their choices to ensure they meet their personal or business needs.
