Merry Christmas and a 2020 full of opportunities


In a few days' time we will be bidding farewell to a year that has been very intense in terms of banking regulation, strengthening the Andorran financial centre as well as making it more transparent. The year has also been characterized by low to negative interest rates in the Euro zone which have also conditioned the business. Nonetheless, we are optimistic about the closing of the financial year by the Andorran banking entities in line with their prospects, which we will be presenting in the first quarter of next year.

We are satisfied with the implementation of the regulatory changes we have made during 2019, and especially with the digitalization process that the Andorran banks are undergoing so as to provide their clients with the best services. The adaptation to the client’s new needs with respect to the different channels of client support and services is key for the future.

In this newsletter you will find the first report prepared by the Andorran Banking Observatory where we explain how the Andorran banking sector is tackling digital transformation and what the future challenges are. We hope you find it of interest.

I take this opportunity to wish you a Merry Christmas and a happy 2020, full of opportunities. 

Andorran Banking wishes you a Merry Christmas and a Happy New Year


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The digital transformation of the Andorran banking sector

Andorran Banking Observatory publishes its first report on “the digital transformation of the Andorran banking sector”. All around the world the banking sector is undergoing digital changes, and the Andorran banking sector is no exception. It is a process full of challenges which will lead the sector towards a digitalization era, taking into account it has invested over 120 million euros to drive digitalization forward. In the last 5 years, digital customers have increased by 46%, and those using mobile applications by 375%



MiFID II training programme

170 professionals from the banking sector have completed a week’s training programme on markets in financial instruments (Directive 2014/65/EU – MiFID II), organized by Andorran Banking. The course has been given by the international firm Ernst & Young to all those professionals who will be directly affected by the new European directive.




Andorran Banking has donated 6.000 euros to the Andorran National Committee for Unicef to palliate the needs of children all around the world. For the fourth year running, Andorran Banking adheres to the “Inspired Gifts, Life-saving Gifts” campaign for the supply of foods to treat severe malnutrition, vaccines against tetanus, first aid kits, blankets and school equipment.


Càritas Andorrana

In line with its corporate and social responsibility, Andorran Banking has donated 6.000 euros to Càritas Andorrana for its primary care programme. Thus, the Association renews its commitment to improve Andorra’s social wellbeing. In 2018, this programme reached 267 families, with an increase of a 4% with respect to the previous year.

Ibero-American meeting of Ministers of Foreign Affairs 

The first Ibero-American meeting of Ministers of Foreign Affairs was held in Soldeu on the 26th of November. It was a preparatory meeting for the 27th Ibero-American Summit of Heads of State and Government which will be held in Andorra in November 2020.

 At the meeting, where more than 22 state representatives attended, the Minister of Foreign Affairs announced that Andorra will be leading the creation of an Ibero-American strategy on innovation of sustainable development.