All news / Interview

Our Tier 1 capital ratio of over 30% is already the highest in Andorra, said Christoph Lieber, CEO of Vall Banc

CEO of a new Andorran bank Vallbanc Christoph Lieber spoke to all-andorra.com about future of private banking in Andorra and bank’s strategic plans:

Before you were appointed CEO of Vall Banc and moved to Andorra, you worked in Germany and Switzerland. What do you see as the greatest difference between the banking systems in these countries and …

More
All news / Business and Economy

Standard & Poor’s agency raised its forecast of Andorra’s rating from “negative” to “stable”

Standard & Poor’s agency raised its forecast of Andorra’s rating from “negative” to “stable” – now Andorra has a rating BBB- / A-3. This data is contained in the official agency report which states, however, that “the process of settlement of the conflict with the Banca Privada d’Andorra (BPA) by the authorities of Andorra has …

More
All news / Politics

The Prime Minister of Andorra Antoni Marti met with the US Ambassador is Spain and Andorra James Costos

The Prime Minister of Andorra Antoni Marti met with the US Ambassador is Spain and Andorra James Costos. The parties expressed the satisfaction with the current relations between the two countries.

During the visit, the parties discussed the acquisition of the American company JC Flowers of bank’s assets of Vallbanc, whick took place after the finishing of …

More
All news / Business and Economy

About 300 people have applied for cash withdrawal during the first working day of the new Andorran Vall banc

About 300 people have applied for cash withdrawal during the first working day of the new Andorran Vall banc, on 11th May. This bank was established as a result of the restructuring of Banca Privada d’Andorra on the basis of “uninfected” customer assets. The crisis associated with BPA lasted 14 months.

As the President of Vallbanc …

More
All news / Business and Economy

Fitch Ratings has affirmed Banca Privada d’Andorra’s (BPA) Long-and Short-term Issuer Default Ratings (IDRs) at ‘Default’ (D)

Fitch Ratings has affirmed Banca Privada d’Andorra’s (BPA) Long-and Short-term Issuer Default Ratings (IDRs) at ‘Default’ (D). Simultaneously, the agency has withdrawn BPA’s ratings as the bank is under resolution. Accordingly, Fitch will no longer provide ratings or analytical coverage of BPA, reports the agency.

More
All news / Business and Economy

AREB made a decision to sell “clean assets” of Banca Privada d’Andorra under Vall Banc brand to American company JC Flowers & Co for 29 million euro

The Board of Directors of the National Agency for restructuring of banks of Andorra (AREB) made a decision to sell “clean assets” of Banca Privada d’Andorra to American company JC Flowers & Co for 29 million euros. New financial structure Vall Banc was established by AREB earlier to separate “clean assets” in Banca Privada d’Andorra. 

In its …

More
Business and Economy

The US Treasury Department said it has lifted money laundering accusations against Banca Privada d’Andorra

The US Treasury Department’s Financial Crimes Enforcement Network (FinCEN) said in a statement issued Friday in the tiny European principality of Andorra it had lifted money laundering accusations against an Andorran private bank.

FinCEN said last year that Banca Privada d’Andorra (BPA), the fourth largest bank in the principality nestling in the Pyrenees between France and …

More
All news / Business and Economy

Association of banks of Andorra declares there are no limits on the inflow and outflow of money in Principality

Association of banks of Andorra declares there are no limits on the inflow and outflow of money in Principality, reports the Association of Andorran banks (Associació de bancs d’Andorra, ABA.

Earlier on 3d December the financial intelligence department of Andorra published new requirements for financial institutions which determine the ability to control the amounts of money …

More