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Fitch Ratings agency has retained long-term and short-term ratings of AndBank at ‘A-‘ and ‘F2’ levels respectively

Fitch Ratings has retained long-term and short-term ratings of Andbank at ‘A-‘ and ‘F2′ levels respectively.

The statement points out the «stable» outlook, and notes that the preservation of ratings is determined by the «international profile and soundness of the bank and the growth of assets under management».

Fitch points out that the significant negative impact on …

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In 2014 BancSabadell D’Andorra intends to develop its network by means of Andorran clients, though assets and investment fund management will remain its priorities

BancSabadell D’Andorra(one of 5 banks, operating on the territory of Andorra) held annual stockholders meeting, where the financial results of 2013 were summed up and the goals for 2014 were set. In 2014 the management of the bank forecasts “the beginning of slow recuperation after the financial crisis”, as far as “the economic situation has …

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The agreement on double taxation exemption was signed between the Ministers for Finances of Andorra and Luxembourg

Yesterday the Minister for Finances of Andorra Jordi Cinca and his colleague from Luxembourg Pierre Gramegna  signed the agreement on double taxation exemption. This is the second agreement on double taxation after the one signed with France. Jordi Cinca emphasized the importance of such agreements for Andorra from the point of view of problems related …

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Business and Economy / Interview

An airport in La Seu D’Urgell can start working in the end of 2014, said Minister of tourism of Andorra Francesc Camp

Minister of tourism of Andorra Francesc Camp tells all-andorra.com on development of tourism in Andorra in 2015:

What are the perspectives of tourism development between Andorra and Russia: the dynamics of growth of number of Russian tourists for the last 10 years in the winter and summer seasons?

Since 1995, when we started to receive Russian tourist, the …

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Starbucks confirms its interest to enter Andorra

Starbucks confirms its interest to enter the Andorran marketplace, – announced the company’s representative to a TV channel of Spain.

Currently, the company is investigating the market entrance in general, and overall details related to the project, – as he reported. He also informed that a number of the company’s specialists attended the Principality in order …

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Credit Andorra Bank fixed the growth of profit up to 71.24 mln euro in accordance to the results of 2013

In 2013 the profit growth of Credit Andorra Bank made up 0.53%, its level came up to 71.24 mln euro. Taking into consideration the general difficulty of economic situation in Europe, the management of the bank is totally satisfied with the result. Positive results were attained by means of progressing expansion of foreign markets.

Credit Andorra …

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Credit Andorra financial group launches an investment fund in Luxembourg

Credit Andorra financial group proceeded international expansion: it has opened the investment fund in Luxemburg—one of the leading financial centers, famous for its fund management experience. “Credit Andorra” has already got two registered variable capital investments companies (SICAV), founded in 2004 and 2008.

In 2011 Credit Andorra financial group has also acquired Luxembourg Banque de PatrimoinesPrives …

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General Council of Andorra (Parliament) has passed the bill on the implementation of individual income tax (IPRF) from 1st January, 2015

Today Andorran General Council (Parliament) has passed the bill on the implementation of individual income tax (IPRF) from January 1, 2015.

All the incomes of Andorran citizens, that exceed 40 000 euro (55 000 $) limit, will be taxed in accordance to 10% rate. The incentive rate of 5% will act in response to the incomes between 24 001 …

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