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Economy and Banking Sector of Andorra

Banking Focus

Banks in Andorra are mainly focused on the following areas:

  • international private banking
  • domestic retail banking

Banking Supervision

Andorra Financial Authority

Banking Sector Structure

Number of Banks
Consolidated Assets (2017)
14,145.38 mln EUR  (-2.39%)
Recent Changes (2018)
new banks: 0, closed banks: 0

Currently there are 5 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.

Consolidated banking assets in Andorra.

Chart 1. Consolidated banking assets in Andorra.

Recent structural changes (2013 - 2018) of the banking sector of Andorra are summarised in Table 1.

Number of Opened Banks001000
Number of Closed Banks001000

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.

NameStart Date
Vall Banc, SAUJune 2015

Table 2. The most recently opened banks in Andorra.

Deposit Guarantee Scheme

Maximum Protected Amount
100,000 EUR

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:

  • if the depositor is eligible within the terms of the deposit guarantee scheme;
  • if the depositor's bank is a participant in the deposit guarantee scheme;
  • if the depositor's type of deposit is covered by the deposit guarantee scheme.

All these details about deposit guarantee scheme in Andorra are summarised in Table 3.

Maximum Protected Amount
100,000 EUR
Temporary High Balance
300,000 EUR
Scheme Participants
all credit institutions operating in Andorra
branches of Andorran banks abroad
Eligible Depositors
natural persons
  • citizens of Andorra
  • residents of Andorra
  • foreign citizens
  • foreign residents
legal entities
  • registered in Andorra
  • registered abroad
Non-Eligible Depositors
investment companies
collective investment entities
asset management companies
members of the general management
Covered Accounts
any credit balance on a bank account, for example
  • cash demand deposits
  • term deposits
  • deposit certicifates
  • other similar debt securities
Covered Currencies
all currencies, namely
  • EUR (Euro)
  • foreign currencies
Paid In Currency

Table 3. Deposit guarantee scheme in Andorra.

Further Information

Country Ceiling for Deposits

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)
Foreign Currency

Local currency (Euro) deposit ceiling for Andorra is set to WR (), foreign currency deposit ceiling is WR ().