The consuls of Canillo and La Massana and the CEO of Crèdit Andorrà signed the shareholders’ agreement

The new company SETAP365, which was created from the integration of EMAP and ENSISA, has been formally established since this afternoon. The articles of association were signed before a notary by Ms Olga Molné and Ms Eva Sansa on behalf of the Comú of La Massana, Mr Francesc Camp and Mr Marc Casal on behalf of the Comú of Canillo, and Mr Xavier Cornella as CEO of Crèdit Andorrà.

Awards and recognition

The Financial Times Group publications note the growth, the adaptation of the business model to new digital needs and the capacity for customer service as decisive factors in awarding the accolade.

Crèdit Andorrà has been named the best bank in Andorra for private banking by the financial publications The Banker and PWM of the Financial Times Group, which annually award the best banks worldwide. The publications highlight the bank’s capacity to adapt its business model in the digital world, while maintaining and improving the relationship with its customers and promoting personalised service in today’s challenging environment. 


The rating agency highlights the bank's leadership in commercial banking and private banking, and emphasizes that it will be strengthened with the acquisition of Vall Banc

Fitch Ratings has affirmed Crèdit Andorrà, S.A.'s Long-Term Issuer Default Rating at 'BBB-', after the agreement to acquire Vall Banc, and views the operation as positive. The rating agency believes that this acquisition will consolidate Crèdit Andorrà's leading position as the largest bank in Andorra by domestic assets and market shares in loans and deposits.

  • This new agreement consolidates and continues the relationship already initiated between the two strategic partners in life insurance.
  • The aim is to continue to promote the insurance business of both entities, increase added value to clients and guarantee the competitiveness and efficiency of the business.

Crèdit Andorrà and Caser Seguros have extended their collaboration and reached a new agreement resulting in the Spanish company entering the non-life insurance business of the Andorran financial group.

  • Crèdit Andorrà and the town councils of Canillo and la Massana sign a pre-agreement on a unified snow market model
  • The initial shareholding distribution is 40.09% by Canillo, 39.66% by Crèdit Andorrà and 19.9% by la Massana, with a progressive process of parity occurring over the next six years by the latter

This Sunday, the town councils of Canillo and la Massana and Crèdit Andorrà signed a pre-agreement for the creation of a new company that aims to integrate 100% of the shares of ENSISA and EMAP, the companies that operate the Soldeu El Tarter and Pal Arinsal ski


The operation, which will be financed entirely with Crèdit Andorrà’s own funds, will enable the bank to meet the objectives set in its 2021-2023 Strategic Plan this year

Crèdit Andorrà has closed the agreement to acquire Vall Banc, owned by the J.C. Flowers & Co. fund. The agreement is to acquire 100% of Vall Banc and it will be financed entirely with Crèdit Andorrà’s own funds.

Negotiations between the two banks culminated in the signing of the agreement between Xavier Cornella, CEO of Crèdit Andorrà Financial Group, and Richard Carrión, chairman of the Board of Directors of Vall Banc. The formalisation of the operation is subject to obtaining the authorisations of the corresponding supervisory bodies.


• Creand Wealth Management (Banco Alcalá, S.A.) has reached an agreement with GBS Finance with the aim of gradually integrating GBS Finanzas Investcapital AV, the securities firm of GBS Finance specialising in advising high net worth clients and family office services, into its structure.


• The UN Principles for Responsible Banking are the framework for a sustainable banking industry, developed through the partnership of over 200 banks worldwide and United Nations Environment’s Finance Initiative

• The Bank reaffirms its position as a pioneer in CSR by being the first to become a signatory of the Principles of the UNEP FI, which it joined in 1998

Awards and recognition

• The digital award recognises the Bank’s renewed efforts to be pioneers in the creation of digital solutions adapted to the needs of customers

• This is the sixth consecutive year that the Bank has been named the best CSR Bank in Andorra


• The fact the rating remains the same highlights the consolidation of the business strategy in a context marked by the COVID-19 crisis

• It also endorses the Bank’s leadership in support for the Andorran economy and its growth in business volume and profits internationally  


Format: 28-01-2022
Format: 28-01-2022