This transaction by Andbank "raises its solvency above 17% and improves its operational efficiency."

Andbank has announced the sale of its entire stake in Columbus de México to Finamex, one of the country's leading asset managers, an operation that is subject to the "relevant regulatory authorizations," it said in a statement on Friday.

This transaction by Andbank "raises its solvency to over 17% and improves its operational efficiency" and will allow the group to redirect its resources and efforts towards markets where the Andbank brand has more competitive advantages, in its words, such as Spain and Andorra.

The bank's objective is to consolidate its position as one of the main players in private banking in the countries in which it operates, with a special focus on Europe. The Andbank Group has a BBB rating and "one of the lowest bad debt ratios in the sector."