The assets under the management of 4 Andorran banks (01/01/2016): 44.982 mln euro
2. Solvency: 21.22%
3. Liquidity: 65.46%
4. Return on equity: 12.6%
5. The share of outstanding debts: 3.33%
6. Liabilities makeup (cumulative): zero debt. The banks are mostly backed up by means of customer inputs (75% of cumulative liabilities) and joint-stock funds (10% of liabilities).
7. Banking sector is managed by the National Financial Institution of Andorra (INAF).
8. The banking secrecy is regulated by the legislation: the Law on Banking Secrecy with amendments from May 11, 1995.
9. Tax information exchange presupposes the format of individual applications (the Law 9/2009—September 7), i.e. automatic information exchange is prohibited. All applications should be reasoned or should have a legal confirmation of the fact that an applicant has got an account at the given Andorran bank.
10. Currently one in five banks in Andorra – Banca Privada d’Andorra, SA – is in the process of restructuring in connection with the scandal related to the US Treasury Department’s accusation of moneylaundering. On the basis of “clean assets” of the bank, a new banking structure Vallbanc was created.Look for details how to open bank account: https://all-andorra.com/banks/