Key figures
The Andorran financial sector in figures
Key figures
A strategic sector of the Andorran economy
The financial system is one of the main pillars of the Andorran economy which, together with the insurance sector, contributes to approximately 15% of Gross Domestic Product (GDP).
The Andorran banking sector comprises a total of three banking groups with over 90 years of banking experience.
The main lines of business in the banking sector are retail banking, private banking, asset management and insurance. The sector is regulated and supervised by the Andorran Financial Authority (AFA).
Andorran banking institutions ended 2021 with an aggregate result of €97m, a level similar to before the pandemic. In a year marked by the acquisitions of BancSabadell d’Andorra by MoraBanc and the purchase of Vall Banc by Crèdit Andorrà, the banking industry managed to grow not only in profits (+17%), but also in the volume of customer assets under management (+19%), at €61.4bn.
The financial profitability of Andorra’s banking institutions, as measured by ROE, recovered in 2021 and now boasts a consolidated figure of 6.04%.
The CET 1 (phase-in) solvency ratio is 17% as at 31 December 2021 (according to the European criteria of Basel III).
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2021
2021 (In thousands of Euros)
Total assets 16,611,905
Gross credit investment 7,031,054
Assets under management 61,461,234
Results 97,419
ROE 6.04%
ROA 0.60%
Efficiency ratio 68.35%
CET 1 solvency ratio (phase-in) 17.00%
Liquidity ratio (Liquidity Coverage Ratio) 206.06%
The data includes four banking groups: Andbank, MoraBanc, Crèdit Andorrà and BSABanc. Source: Andorran Banking
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2020
2020 (In thousands of Euros)
Total assets 15,169,956
Gross credit investment 6,367,736
Assets under management 51,735,224
Results 83,609
ROE 5.46%
ROA 0.55%
Efficiency ratio 66.78%
CET 1 solvency ratio (phase-in) 18.00%
Liquidity ratio (Liquidity Coverage Ratio) 187.12%
The data includes five banking groups: Andbank, MoraBanc, Crèdit Andorrà, BancSabadell d’Andorra and Vall Banc. Source: Andorran Banking
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2019
2019 (In thousands of Euros) Total assets 14,840,696 Gross credit investment 6,094,759 Assets under management 49,713,197 Results 111,883 ROE 7.70% ROA 0.76% Efficiency ratio 66.50% Solvency ratio (Basel III) 17.48% Liquidity ratio (Basel III) 223.05% The data includes five banking groups: Andbank, MoraBanc, Crèdit Andorrà, BancSabadell d’Andorra and Vall Banc.
Source: Andorran Banking
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2018
2018 (In thousands of Euros) Total assets 13,969,852 Gross credit investment 5,911,097 Assets under management 44,925,146 Results 99,559 ROE 7.31% ROA 0.71% Efficiency ratio 75.47% Solvency ratio 20.30% Liquidity ratio 61.83% The data includes five banking groups: Andbank, MoraBanc, Crèdit Andorrà, BancSabadell d’Andorra and Vall Banc.
Source: Andorran Banking
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2017
2017 (In thousands of Euros) Total assets 14,145,382 Gross credit investment 5,982,759 Assets under management 46,138,071 Results 131,256 ROE 9.85% ROA 0.88% Efficiency ratio 68.05% Solvency ratio 21.74% Liquidity ratio 65.37% The data includes five banking groups: Andbank, MoraBanc, Crèdit Andorrà, BancSabadell d’Andorra and Vall Banc.
Source: Andorran Banking
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2016
2016 (In thousands of Euros) Total assets 14,492,462 Gross credit investment 6,299,918 Assets under management 45,434,271 Results 155,933 ROE 9.73% ROA 1.03% Efficiency ratio 59.98% Solvency ratio 25.10% Liquidity ratio 61.41% The data includes five banking groups: Andbank, MoraBanc, Crèdit Andorrà, BancSabadell d’Andorra and Vall Banc.
Source: Andorran Banking Association
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2015
2015 (In thousands of Euros) Total assets 14,411,802 Gross credit investment 6,278,629 Assets under management 45,214,084 Results 168,548 ROE 10.93% ROA 1.19% Efficiency ratio 54.15% Solvency ratio 22.78% Liquidity ratio 71.24% The data includes four banking groups: Andbank, MoraBanc, Crèdit Andorrà and BancSabadell d’Andorra.
Source: Andorran Banking Association
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2014
2014 (In thousands of Euros) Total assets 14,046,563 Gross credit investment 6,337,751 Assets under management 43,965,816 Results 183,268 ROE 12.38% ROA 1.38% Efficiency ratio 45.35% Solvency ratio 20.75% Liquidity ratio 68.11% The data includes four banking groups: Andbank, MoraBanc, Crèdit Andorrà and BancSabadell d’Andorra.
Source: Andorran Banking Association
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2013
2013 (In thousands of Euros) Total assets 12,522,762 Gross credit investment 6,152,178 Assets under management 34,020,667 Results 184,656 ROE 31.24% ROA 1.45% Efficiency ratio 43.91% Solvency ratio 22.04% Liquidity ratio 67.31% The data includes four banking groups: Andbank, MoraBanc, Crèdit Andorrà and BancSabadell d’Andorra.
Source: Andorran Banking Association