A sound position of banks

Once again the banking sector has shown itself to be one of the driving forces of the Andorran economy and has been a key player in providing liquidity to the system during the Covid-19 crisis. The figures released in the 2020 annual report, which is presented in this newsletter, reflect this. The banking sector is set to face future challenges with a sound position in terms of solvency and liquidity. In line with our ongoing policy to give support to the Government of Andorra, we have always been in a position to deliver all of the services required by businesses and individuals who now find themselves in a better position to pay off their debts.

Based on our experience last summer, when the number of tourists and occupancy rates were very good despite the fact that we were just coming out of a strict lockdown, the expectations for summer 2021 are also optimistic thanks to the country’s vaccination programme that now stands at a rate of 70% of the fully vaccinated population. This is excellent news that heralds the return of business as usual with the arrival of tourists eager to find themselves in natural surroundings and engage in leisure activities that allow them to leave their worries behind.

I wish you a pleasant summer and we’ll be back in September with more information and news about the banking sector.


The information on the Andorran banking sector at 31 December 2020 is now available in Catalan, Spanish and English.



As a result of the publication of the Law 28/2017 on the 2018–2021 Statistics Plan, the aim of which is to draw up the balance of payments and statistics on international investments for the Principality’s economy, Andorra has released its first official balance of payments.

A statistics tool used to systematically record all financial transactions conducted over a certain period of time between a country and the rest of the world. Thus, all business and financial transactions between a country’s residents and non-residents are calculated in monetary units.

Andorra’s balance of payments shows that the Principality had a financing capacity of 507.86 million euros in 2019, which accounts for 18% of the country’s gross domestic product (GDP).


The Principality of Andorra joined SEPA in March 2019. At the time, banks started to use the SEPA scheme for transfers.

Pursuant to the regulations in force in Andorra, Andorran banks adhered to the SEPA Direct Debit scheme on 4 May. This entails a number of operational changes that banks, businesses and individuals had to take into account when they use this method of payment.

This SEPA scheme allows for direct debits between Andorran businesses or individuals and Andorran or EU banks, and between EU businesses and individuals and Andorran banks..


Agreement with the Red Cross

Andorran Banking has signed a collaboration agreement with Andorra’s Red Cross, in order to contribute to it attaining its overall objectives. A donation of €30,000 was made to keep its various social, educational, training and humanitarian projects and services viable.

Andorran Banking promotes projects to work alongside associations that assist Andorran society in general and underprivileged sectors in particular.


An outdoor concert 1,800 metres up with well-known artists. Discover the best music for this summer! 



If you’re a cycling fan, the thrilling finish of the 15th stage of the Tour de France on 11 July is not to be missed!



Andorra is to host this major event at which the participants experience an incredible adventure with this iconic world-renowned challenge of stamina.