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.
