Banks in Andorra

The Andorran financial sector includes three large domestically owned banks (Andbank, MoraBanc and Grup Creand), investment firms and insurance companies. Currently in Andorra there are no foreign banks. Andorra is not a member of the European Union, but euro is the official currency in the country. The Andorran Financial Authority (AFA) is responsible for regulation and supervision of banking system which also has a self-regulating body The Andorran Banking Association (ABA). The Andorran banking sector employs around 2,500 people and has approximately €18 billion in total assets, €14 billion in deposits and €64 billion in assets under management.

Crèdit Andorrà

Credit Andorra Group (now Creand) is the largest bank in the country in terms of assets, deposits and loans. It provides personal, commercial and private banking services for individuals and companies. The bank’s offerings include current, payroll, youth and piolet accounts, temporary worker accounts, debit and credit cards, savings and investments, mortgages, car and student loans, insurance and other services.

Andbank

Andbank is a family-owned and the oldest firm of private bankers in the country. It has international branches in Luxembourg, Switzerland, Spain, Monaco, USA, Panama, Brazil, Mexico, Bahamas, Israel and Uruguay. Andbank is the top-rated bank in Andorra according to Fitch.

MoraBanc

Mora Banc Grup SA, founded in 1952, is the third biggest bank in Andorra with total assets of €3.1 billion, deposits of €1.9 billion and assets under management (AUM) of €7.5 billion. It was awarded as The Best Bank in Andorra by Global Finance.

Vall Banc

Vall Banc SA (formerly Banca Privada d'Andorra) provided retail and private banking products and services through four offices in Andorra. It was acquired by Credit Andorra in June 2022.

Banc Sabadell d'Andorra

Banc Sabadell d'Andorra (BSA) was the fifth largest bank in the country. It offered products and services for personal and business customers including checking and savings accounts, debit and credit cards, mortgages, foreign exchange, auto loans, electric or hybrid vehicle loans and more. It was acquired by MoraBanc in 2021.

Last updated October 10, 2024