Degroof Petercam completes sale of Spanish subsidiary

Thursday, February 25, 2021 - Andbank España S.A.U. (“Andbank España”) and Bank Degroof Petercam SA (“Degroof Petercam”) have closed the previously announced transaction related to the acquisition of Bank Degroof Petercam Spain S.A.U., a wholly owned subsidiary of Degroof Petercam, by Andbank España.

The institutional asset management activities of Degroof Petercam Asset Management SA’s Spanish branch based in Madrid are not part of the transaction and will remain as currently operated.

About Andbank España

Andbank España is a bank specialized in private banking and comprehensive wealth management. With 13.065 billion euros under management, has a network of bankers and specialists with wide experience in wealth advisory and management.One of Andbank España's main focus areas is its CSR activity, which is aimed at supporting different initiatives that contribute to creating a better society. Andbank España collaborates with several organizations such as Cris Contra el Cancer, Fero (Foundation for Oncological Research) and the Pediatric Cancer Center in Sant Joan de Déu with the aim of contributing and helping to raise funds for the fight against cancer. Furthermore, Andbank Wealth Management is a signatory of the United Nations Principles for Responsible Investment (PRI).