MoraBanc is Named as Bank of the Year 2021

Andorra’s MoraBanc has been started as a family-run business which later turned into a financial group serving individual and corporate customers. As of now, the bank focuses on innovation and digital progress while prioritizing customer support.

Among key products:

  • Individual accounts and cards;
  • Saving accounts;
  • Loans and mortgages;
  • Business accounts for companies of any size;
  • Private banking;
  • Asset management;
  • Online broker.

MoraBanc offers products for various age and professional groups. As such, it has products for individuals up to 15 years, between 16-30 age, 30+ adults, public employees, freelancers and professional association members.

Other products target different life situations, for example, organizing a wedding, buying a property, travelling, buying a car, studying, planning a retirement. With this diversification, anyone can find a suitable product.

Opening an Account

Customers wishing to open an account need to submit an application and provide with the following documents:

1. ID documents for individuals:

  • original copy of passport or a valid ID document
  • copy of an utility bill
  • letter of reference from a bank, bank account statements for the past year, a copy of the last tax return, and, in certain cases, a residency certificate
  • tax statement
  • proof of the source of funds, such as payslips, bills, or bank statements

2. Company documents for corporate accounts:

  • documents that accredit business activity
  • tax statement

Bank of the Year 2021

MoraBanc has been awarded as the Bank of the Year 2021 by the Banker, a reputable banking award. It was noted that MoraBanc was increased by 7.8% in capital position and expanded internationally in 2020. Another key success achievement is product and service innovation, notably “three-times paycheque loan” highly demanded during pandemic, bank’s digital transformation plan, online banking. In October 2021 MoraBanc acquired 51% of Banco Sabadell d’Andorra which would potentially increase the bank’s net profits in forthcoming years.

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