A financially-sound banking sector, part of the solution

 The start of the summer has coincided with the gradual lifting of quarantine in the countries around us. Andorra has prepared to become a COVID-READY country which makes us optimistic that the return to normality will be fast. Andorra is a country which attracts proximity tourism and more so during the summer months when people are looking for nature, leisure and new experiences, all of which make Andorra a good option.

Throughout the COVID-19 crisis, Andorran Banks have stood by their clients and country to offer solutions in each case. Now, they will continue to keep a close eye on the needs of companies and families in order to continue offering their best services and recover from this crisis as soon as possible.

The banking sector is one of the country’s key elements not only because it represents around 20% of its GDP but also due to its involvement in society as a changing agent. The sector is now better capitalised than at the start of the previous crisis in the country in 2011, with a more professionalised management and corporate governance policies aligned with international standards. All these elements will no doubt help us find our way back to economic growth.

It is in this context that we present the results of the Andorran banks as of 31/12/19, which have been satisfactory showing growth at a global level in net profit and assets under management. This crisis has caught us fully prepared with sound balance sheets as well as a strong level of investment in digitalisation tools. This gives us hope for the future.

I would like to take this opportunity to wish you all a happy summer holiday. We will be back in October with more interesting information about the Andorran financial centre.

Andorran Banking Annual report

 The data for the entire Andorran banking sector as at 31 December 2019 are now available in Catalan. For more information please click on the link below.

The English and Spanish version will be available mid July.


Sector-wide moratoria agreement

 On June 11, Andorran banks reached a sector-wide moratoria agreement on loan repayments applied to businesses and families affected by the coronavirus crisis, which complements the legislative moratoria approved by the Andorran Government. The moratoria offers payment schedules of 6 and 12 months depending on the case.


Measures adopted by Andorran banking entities in the light of the COVID-19 crisis

 The Andorran banking sector is key to the economy of our country and over the past few months has undertaken various measures to relieve the consequences of the crisis. Andorran Banking has created a specific section on its website which includes a list of measures adopted by the banks to fight the crisis.


Antibody tests for the entire population

Andorra is one of the first countries to carry out antibody tests on all people working or residing in the country.

The aim of this campaign has been to understand the degree of immunity to Covid-19, and as of today, 90% of the population (approximately 63.000 people) have taken the two tests.

Golf Soldeu. The highest 9 holes in Europe!

Come and discover the highest golf course in Europe at 2,250 metres in unique surroundings. With 9 holes and a par 33, the course has been harmoniously integrated into its natural surroundings, making the most of the topography and natural elements. It is the greenest space in Grandvalira which in the summer transforms its ski area into a magnificent golf course.