Good prospects for 2020

2019 has ended with good prospects for this upcoming year while we continue to adapt to the community acquis and work on those market niches that make us more competitive. We are a transparent financial marketplace focused on digitalization and fully committed to the future of Andorra. We have solid fundamentals with strong capitalization, a CET1 ratio (phase-in) of 16.98% and a ROE of 7.76%, both above the average for European banks published by the ECB.

In the last few years, the funds managed by Andorran banks have almost doubled, providing sound foundations to face the future with a clear roadmap that involves creating security and trust; adapting to the new demands of clients and regulations; supplying sustainable and responsible credit to the economy; and creating opportunities thanks to a solid positioning on the global stage.

For 2020 we intend to continue publishing useful, transparent and relevant information with regards to the Andorran financial system. At the end of last year we published the first Andorran Banking Observatory and we will be publishing its second edition during the second half of this year.

2019 results of Andorran banks

Andorran banks have ended the financial year having improved all their main indicators such as profit, volume of assets under management, global credit investment, return and solvency ratios. All these figures are an advancement of the official ones at year end which will be audited and approved by the governing bodies of each entity. Net attributable profit amounts to 112 million, 12.5% more than in 2018 and assets under management have risen to 49,714 million euros, 11% more than last year. 


Andorran Banking renews its presidency

Pursuant to its articles of Association, Andorran Banking has appointed its new President and Vice-president for a one year period starting January 2020.

The new appointments for 2020 have gone to Mr. Josep Segura Solà, General Director of BancSabadell d’Andorra and to Mr. Xavier Cornella Castel, Chief Executive Officer and General Manager of Credit Andorrà.

International Monetary Fund. Seizing opportunities

The adherence of Andorra to the International Monetary Fund will represent an investment for the country with positive effects. Andorran Banking welcomes the possibility of Andorra applying for IMF membership. Esther Puigcercós, Managing Director, states that this will undoubtedly have a positive effect on credibility and trust towards the country, the economy and the Andorran financial centre.


Standard & Poor’s Rating


The international rating agency Standard & Poor’s has affirmed its rating for Andorra at BBB/A-2 and maintains the stable outlook.

The agency highlights the progress made by Andorra to adhere to the International Monetary Fund, fact that could raise the country’s rating.


Fitch Rating

Fitch has affirmed the rating on Andorra at BBB+ and stable outlook, acknowledging the favourable indicators of economic growth of the country. It also highlights the progress made towards and EU association agreement and the alignment with internationals standards in transparency and fiscal cooperation.

Fitch Ratings values the application of IFM membership which could lead to the development of balance of payments statistics, which could in turn lead to a positive rating action in future evaluations.

National Risk Assessment

On the 21st of January, the Minister of Finance, Mr. Èric Jover, and the Head of the UIFAND, Mr. Carles Fiñana, presented the scope of the 2020 National Risk Assessment (NRA). This is a priority project with the mandatory participation of all categories of obliged subjects in relation to the prevention of money laundering and terrorist financing.

Pursuant to international standards and Recommendation 1 of FATF, the NRA is required to be updated every 3 years. Work on the report is now underway and will be finalised by December 2020.

Winter in Andorra 


If you already know where you want to ski, find out about snow activities in Andorra and the conditions of the slopes in real time. You can't go wrong!