The principle of Andorra is to enjoy a well structured and traditional banking system. It has a solid foundation, solvency, and high liquidity that are some of its greatest assets. The panorama of bancos en andorra takes these characteristics into account before embarking on financial or saving investment in the country.
Panorama of the banks
There are places for specific investments and commercial transactions in the principality. The banks are known for their high solvency level and competitiveness. They are the players in finance and other challenges as they are essential for capital transfer while setting up or creating a company. Seven parishes have ATMs and agencies representing the five Andorran banks. They are open to the public from Monday-Friday, from 9 am to 5 pm, without interruption.
Types of banks
The bancos en andorra offers services to businesses, individuals, and others wishing to invest in the principality. The banking secrecy covers the financial system in the constitution. The banks are present locally or nationally. The activities include:
- Private services
- Consumer services
- Commercial services
The local banks are mainly for wealth management. They have a high liquidity level for protecting the client’s wealth. The national banks handle the business of their customers and large-scale commercial operations. They are known for their expertise and their quality of logistical support for business creation, financial creation, and corporate purchases. The banks are rigorous and provide quality customer service. This property allows them to develop relationships on mutual trust with the investors for growing their capital.
The banks operate in their strictest form to respect the private banking tradition. They constitute the system working for the sophistication, quality, and reliability of the finance council they offer to the investors and clients. The residents or people investing in Andorra need a bank account. They find solutions that are suitable for various investments depending on individuals or companies.