Western Europe

摘要

Banks operating in Andorra have had to adjust their business strategies to comply with new regulations as well as cope with pressure now being imposed on all offshore jurisdictions when it comes to their transparency.No bank in Andorra has negotiated with these challenges more effectively than MoraBanc, which wins the award as bank of the year in the country for the way it has restructured its strategy to increase growth while delivering the best financial performance among Andorran banks with a profit of€45.2m.MoraBanc, which has an A- rating from Fitch, bases its sound profitability on its business mix, which is focused on off-balance-sheet funds rather than deposits, with fees and commissions the largest source of operating income, at 70%, at the end of 2012.