The Board of Directors of Banco Alcal\u00e1, the Cr\u00e8dit Andorr\u00e0 Group’s private banking subsidiary in Spain, have resolved to propose to their shareholders a 15% increase in its share capital, bringing in two new strategic partners, the financial group Riva y Garc\u00eda, which will hold 10% of the entity’s capital, and the Ros Gonz\u00e1lez family, which will hold 5%, once the transaction is finished. Banco Alcal\u00e1’s new partners are joining the Cr\u00e8dit Andorr\u00e0 Group’s European private banking project, boosting its financial solvency and bringing their strategic vision, experience and reputation to the sector.<\/p>\n
This transaction, subject to receiving permission from the regulators, will allow the incorporation of Riva y Garc\u00eda’s private banking and capital markets business, which until now were managed through the companies Riva y Garc\u00eda Gesti\u00f3n GSIIC and Riva y Garc\u00eda 1877 SV. Riva y Garc\u00eda es an independent financial group, created in 1992 and specialising in high added value advisory services.<\/p>\n
The Ros Gonz\u00e1lez family, on the other hand, will join Banco Alcal\u00e1’s shareholders by subscribing 5% of the capital.<\/p>\n
After the increase, the share capital will be distributed 72.25% for the Cr\u00e8dit Andorr\u00e0 Group, 12.75% for the Arg\u00fcelles family, founders of the entity, 10% for Riva y Garc\u00eda and 5% for the Ros family. The total own resources will become 31.5 million euros.<\/p>\n
Based on this transaction, Banco Alcal\u00e1 intends to bring Mr. Borja Garc\u00eda-Nieto Portabella and Mr. Jose Maria Ros Gonz\u00e1lez onto the board of directors.<\/p>\n
The managing director of Cr\u00e8dit Andorr\u00e0, Mr. Josep Peralba, states that \u201cbringing in Riva y Garc\u00eda, an outstanding operator in the private banking and capital markets in Spain, and the Ros Gonz\u00e1lez family, a major industrial investor in the same country, will boost our project in the European Union<\/em>\u201d.<\/p>\n Mr. Borja Garc\u00eda-Nieto, chairman of Riva y Garc\u00eda, states that \u201cthis transaction will provide an excellent opportunity for both entities to scale up in a highly regulated, complex market. Our new partner’s solvency will enable us to offer a better, more complete service to our clients and generate significant synergies<\/em>\u201d.<\/p>\n A global private banking project of the Cr\u00e8dit Andorr\u00e0 Group in Europe<\/strong><\/p>\n The Cr\u00e8dit Andorr\u00e0 Group bought Banco Alcal\u00e1 last October, with the intention of boosting its expansion within the euro zone, which started in April of the same year with the purchase of Banque de Patrimoines Priv\u00e9s in Luxembourg. The Cr\u00e8dit Andorr\u00e0 Group’s project, by building a presence in Spain and Luxembourg, is to create and consolidate a global benchmark entity in the European private banking market.<\/p>\n Cr\u00e8dit Andorr\u00e0 is the leading financial group in Andorra. The entity manages a turnover of 13,199 million euros (2011) and leads the sector in own resources, managed resources, turnover, credit investment and profits. With its proven strength, a TIER1 of 14.02% and solvency and liquidity ratios of 17.39% and 51.81% respectively, Cr\u00e8dit Andorr\u00e0’s solvency easily beats the European banks’ average.<\/p>\n Cr\u00e8dit Andorr\u00e0 Group<\/strong><\/p>\n Cr\u00e8dit Andorr\u00e0 is the leading financial group in Andorra with a market share of 36%. In Andorra, the entity offers commercial banking, private banking and asset management services on an international level, which are complemented by other lines of business in the Group, such as its insurance products and advisory services. At present, the Cr\u00e8dit Andorr\u00e0 Group has a presence in Andorra, Spain, Switzerland, Luxembourg, the United States, Mexico and Panama.<\/p>\n Fitch Ratings has given Cr\u00e8dit Andorr\u00e0 a long-term A and a short-term \u201cF2\u201d rating. Fitch’s evaluation highlighted Cr\u00e8dit Andorr\u00e0’s solvency and strength and its leadership in the country’s financial sector, in the light of the present economic situation.<\/p>\n The bank has won the Andorran Bank of the Year award seven times, which is presented by the financial publication The Banker of the Financial Times group (2002, 2003, 2004, 2006, 2007, 2008 and 2010).<\/p>\n Cr\u00e8dit Andorr\u00e0 holds the top position among the Andorran banks in the Top1000 ranking, drawn up annually by the magazine The Banker of the Financial Times group. This ranking classifies banks on the basis of their capitalization.<\/p>\n","protected":false},"author":12,"featured_media":5663,"template":"","categories":[400,401],"tags":[596,600],"class_list":["post-11025","press-notes","type-press-notes","status-publish","has-post-thumbnail","hentry","category-corporate","category-business","tag-international-presence","tag-spain"],"acf":[],"_links":{"self":[{"href":"https:\/\/creandgroup.com\/en\/wp-json\/wp\/v2\/press-notes\/11025","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/creandgroup.com\/en\/wp-json\/wp\/v2\/press-notes"}],"about":[{"href":"https:\/\/creandgroup.com\/en\/wp-json\/wp\/v2\/types\/press-notes"}],"author":[{"embeddable":true,"href":"https:\/\/creandgroup.com\/en\/wp-json\/wp\/v2\/users\/12"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/creandgroup.com\/en\/wp-json\/wp\/v2\/media\/5663"}],"wp:attachment":[{"href":"https:\/\/creandgroup.com\/en\/wp-json\/wp\/v2\/media?parent=11025"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/creandgroup.com\/en\/wp-json\/wp\/v2\/categories?post=11025"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/creandgroup.com\/en\/wp-json\/wp\/v2\/tags?post=11025"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}