Finance
List of Commercial banks in Andorra
Andorra, a diminutive European principality bordered by Spain and France, boasts a mature banking sector that significantly contributes to its economy. Renowned for its historically advantageous tax system, the country has established itself as a financial center, providing services in private banking, wealth management, and international finance.
Overview of Andorra’s Banking Sector
Andorra’s banking sector, historically renowned for its stability and robust regulation, has undergone significant transformations in recent years to align with international transparency standards. The sector, primarily comprised of a few institutions specializing in private banking and wealth management, previously attracted foreign investment due to tax advantages. However, recent reforms have led to greater fiscal transparency and cooperation with international financial bodies. Despite its small size, Andorra has developed a sophisticated banking system catering to high-net-worth individuals and international clients. The country’s commitment to stability, security, and regulatory compliance has positioned it as a trusted and attractive destination for financial services
Bank Name | Headquarters | Bank Sector | Bank Revenue (EUR) | Bank Revenue(USD) | Contact Details |
Andbank | Andorra la Vella | Private | 40 million | 44.17 million
|
Tel: +376 881 500 |
MoraBanc | Andorra la Vella | Private | 34.5 million | 38.1 million | Tel: +376 884 884 |
Crèdit Andorrà | Andorra la Vella | Private | 71.3 million | 78.74 million | Tel: +376 888 888 |
Vall Banc | Andorra la Vella | Private | 163 million | 180.01 million | Tel: +376 750 750 |
BancSabadell d’Andorra (BSAB) | Andorra la Vella | Private | 205 million | 226.39 million | Tel: +376 870 150 |
Conclusion
Andorra’s banking sector has transitioned from a tax haven to a transparent and regulated financial center. Despite its small size, it remains a vital part of Andorra’s economy, offering specialized financial services.