Stakeholders

The members of the Association of Andorran Banks and the regulatory and supervisory bodies

Stakeholders


Andorran Financial centre

Andorran Banking encompasses the banks operating in the Andorran financial marketplace, representing its members’ interests and guaranteeing the sector’s image through good banking practices.

The Andorran banking system consists of 5 banking groups that operate a total of 6 banks:

Andorra Banc Agrícol Reig, SA – Andbank

Created from the merger in August 2001 of Banco Agrícol y Comercial de Andorra, SA and Banca Reig, SA

Mora Banc Grup, SA

Founded in 1958 as Banca Coma, itchanged its name in 1970 to Banc Internacional d’Andorra, SA. It adopted its current name in November 2011.

Mora Banc, SAU

Founded in 1952, and called Banca Mora until November 2011.

Mora Banc Grup, SA and Mora Banc, SAU

Operate jointly under the brand name MoraBanc and present consolidated financial statements and other information.

Crèdit Andorrà Group

Incorporated in 1949, it acquired 100% of CaixaBank, SA on 31 July 2005.

 

BancSabadell d’Andorra, SA

Incorporated in June 2000.

Vall Banc, SAU

Incorporated in 2015 and acquired by J.C. Flowers in 2016, it specialises in the holistic wealth management of its clients.

Regulatory and supervisory bodies

Andorra has regulatory and supervisory bodies that were created to achieve the highest international standards.

AFA

The Andorran Finantial Authority (AFA) is a public law entity with its own legal personality and full capacity to act publicly and privately, independently of the government. AFA is the oversight body of the Andorran financial system that promotes and monitors the proper operation and stability of the financial system.

UIFAND

The Andorran Financial Intelligence Unit (UIFAND) is an independent body whose mission is to promote and coordinate measures to prevent money laundering and terrorism financing. It was created as the Money Laundering Prevention Unit in 2000 under the Law on International Criminal Co-operation and the Fight against the Laundering of Money and Securities Deriving from International Delinquency following the instructions of the Moneyval Committee of the Council of Europe and the 40 FATF Recommendations.

The Standing Committee on the Prevention of Money Laundering and Financing of Terrorism was created in 2008 to improve the coordination of the agencies and ministries involved in the prevention of money laundering and the financing of terrorism and to build a multidisciplinary and global vision which would facilitate more effectiveness and agility in the adoption of measures. This committee is chaired by the head of UIFAND and its members are representatives of the ministries of the Presidency, Finance, Justice, Interior, Economy, Foreign Affairs, AFA for issues that affect the financial system, and UIFAND.