Andorra Banc Agrícol Reig (Andbank), SA was created in August 2001 as a result of the merger between Banc Agrícol i Comercial d’Andorra, SA (founded in 1930) and Banca Reig, SA (founded in 1956).
Andbank started the internationalization process of Andorran banks in 2001 when it opened in the Bahamas the banking entity under the name Andbanc (Bahamas) Ltd. Andbank continued its international expansion with the acquisition of other financial and banking entities, such as wealth managers, representation offices and banking licences. Andbank is the second-largest bank in Andorra.
Due to regulatory requirements Andorra Banc Agrícol Reig, SA performs KYC/AML checks when establishing business relationships with a new client. While onboarding a private individual Andorra Banc Agrícol Reig, SA will ask him/her to provide the following documents: passport, ID card, utility bill, employment contract, wage slip, tax return, bank reference, bank statement. For corporate clients Andorra Banc Agrícol Reig, SA will ask to provide corporate documentation as well as information about controlling persons. Andorra Banc Agrícol Reig, SA may request additional documentation or information depending on the case.
Andorra Banc Agrícol Reig, SA is the 2nd largest bank in Andorra in terms of total assets. In 2018 its total assets were 4 442,99 mln EUR, providing the bank with the market share of 31.80%. In 2018 the bank's net income was 27,36 mln EUR. Andorra Banc Agrícol Reig, SA had 1 181 employees in 2015.
Andorra Banc Agrícol Reig, SA is rated by Fitch. Long-term credit rating assigned to the bank by Fitch is BBB (good credit quality).
Andorra Banc Agrícol Reig, SA participates in the deposit guarantee scheme of Andorra. This deposit guarantee scheme applies to any credit balance on a bank account made by natural persons (Andorran and foreign), legal entities (Andorran and foreign) and covers up to up to 100,000 EUR per bank per depositor. Andorra Banc Agrícol Reig, SA is a member of Andorran Deposit Guarantee Fund (FAGADI) and makes its contributions into it.
Andorra Banc Agrícol Reig, SA is headquartered in Escaldes.
Andorra Banc Agrícol Reig, SA is authorized and supervised by the Andorra Financial Authority (reference number EB 01/95).