Banks in Andorra are mainly focused on the following areas:
Andorra Financial Authority
Currently there are 6 credit institutions operating in Andorra.
In 2017 consolidated banking assets in Andorra were 14,145.38 mln EUR. The consolidated banking assets' evolution is shown at Chart 1 below.
Chart 1. Consolidated banking assets in Andorra.
Recent structural changes (2013 - 2017) of the banking sector of Andorra are summarised in Table 1.
|Number of Opened Banks||0||0||1||0||0|
|Number of Closed Banks||0||0||1||0||0|
Table 1. Recent structural changes in the banking sector of Andorra.
The list of the most recently opened banks in Andorra is provided in Table 2.
|Vall Banc, SAU (new)||June 2015|
Table 2. The most recently opened banks in Andorra.
Deposit guarantee scheme is a financial stability mechanism implemented in many countries to protect bank depositors against the loss of their deposits in the case when a bank is unable to meet its obligations to depositors by compensating certain deposits held by depositors of the bank. This compensation is paid out from the contributions which banks have made into a deposit guarantee fund.
From a depositor's point of view it is important to know:
All these details about deposit guarantee scheme in Andorra are summarised in Table 3.
Table 3. Deposit guarantee scheme in Andorra.
Moody's country ceilings for deposits specify the highest rating that can be assigned to local- or foreign- currency denominated deposit obligations of a bank or other deposit taking institution domiciled within that country.
Local currency (Euro) deposit ceiling for Andorra is set to WR (), foreign currency deposit ceiling is WR ().