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The banking industry is one of the most important factors when considering making an investment in or relocating to a foreign nation. Access to and trust in local banks are necessary to establish and carry out any activity in that nation, whether it be to open a basic current account to handle regular periodic expenses as a resident, operate a business there with a company account transferring capital, or to make the necessary investment for passive or non-profit residence. When choosing the Principality of Andorra for your commercial or personal investments, according to the regulations and Know Your Customer (KYC) procedures that these institutions follow is crucial for the future of your investment relationship. This problem is even more important because the banking system is the foundation of the financial and insurance industry in a nation where it accounts for about 20% of the GDP.

Andorran banks

The Andorran financial system consists of 34 insurance companies, 18 of which are branches of foreign insurance companies, 5 banking groups, 1 specialized credit institution, 8 financial institutions for the management of investment organizations, 4 financial institutions for the management of wealth, and 5 banking groups. operating legally in Andorra. These are the 5 banking groups:


Previously known as Andbanc, Banc Agrcol, and Banca Reig, two Andorran banks that were merged in 2001, is a bank that specializes in providing private investment services. The Forces Hidroeléctricas de Andorra (FHASA), which had its beginnings in 1930, managed to become the first Andorran bank with a bank record of the European Union in 2010 after receiving the license in Luxembourg and founding the firm Andbank Luxembourg. Spain has been home to it since 2011. It employed 1,167 people and managed about 22 billion euros in 2016.


Currently, the Mora family owns a banking organization. It is composed of several firms involved in a variety of industries, including wealth management, insurance, and other global operations in Miami or Switzerland. Its main component is the 1958-founded bank MoraBanc, SAU. Additionally, it has won various accolades, particularly in the areas of digitization and solvency. It has 331 employees, more than 7.5 billion in client funds, and a CET1 solvency ratio of 26% at the end of 2018.

Sabadell d’Andorra Bank

51 percent of your property is owned by Banco Sabadell, which effectively controls the bank and formed it in 2000 through an arrangement with a group of Andorran businessmen. It had assets of about 1.6 billion euros as of 2017. Banc Sabadell d’Andorra, the smallest bank in Andorra, provides a full range of financial services, including retail and business banking, private banking, and brokerage services.

Crèdit Andorrà

Established in 1949, it is a different financial organization in the Principality of Andorra. Along with insurance, it concentrates its efforts on worldwide commercial banking, private banking, and asset management. The main Andorran banks presently own it and use the universal banking model to offer a variety of services, including retail, corporate banking, private banking, asset and wealth management, and financial and insurance consulting. More than 5 billion Andorran assets were managed by it in 2018.

Vallbanc (formerly BPA)

Another organization specializing in private banking services is Vallbanc (previously BPA), which was established in 1957 as Banca Privada d’Andorra and changed its name to Vallbanc as a result of the controversy and the GAP lawsuit in 2015. JC Flowers & Co. from the United States purchased it in 2016 and is now working to reform, demonstrate openness, and refresh the company’s image while managing assets worth about two billion euros. Generally speaking, it provides both domestic retail banking and global wealth management services.