photo: Andbank
The Andbank Group, with its commitment as a benchmark private banking international family banking and financial group, reinforces its senior management by adding a manager of recognised standing to its headquarters, reports the bank. The aim of the appointment, pending AFA authorisation, is to ensure the cohesion and standardisation of the highest private …
MoreA judge in Andorra has charged 28 people, including former officials in Venezuela, with money laundering offenses over a kickbacks-for-contracts scheme that plundered $2 billion from the Venezuelan state oil company between 2007 and 2012.
Investigating magistrate Canolic Mingorance issued the indictments on Thursday, wrapping up a five-year investigation into opaque deposits in the Banca Privada …
MoreStandard & Poor’s confirms the long-term sovereign rating of Andorra at the level of “BBB / A-2” and maintains a stable outlook. Analysts of the agency positively rate the reform program in Andorra, good financial results and rapprochement with international standards.
The agency points out that the rating can be raised if Andorra’s negotiations with the …
MoreThe Government of Andorra submits a bill to the Parliament providing for the financing of court expenses of the State Agency for the Control of Banking Organizations (AREB). The bill proposes to ratify the monetary fund in the amount of 2 982 150.46 euros allocated to AREB to cover costs associated with the scandal of …
MoreMinister of Economy, Innovation and Competitiveness of Andorra, Gilbert Saboya, tells all-andorra.com about the Andorran economy in 2017, plans for 2018 and targets of the new ministry.
According to rating agencies, banks play too much of an important role in Andorra’s economy and it is dangerous for its development. What do you think?
The good news is …
MoreFitch Ratings has affirmed Andorra’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘BBB’. The Outlook is Positive. A full list of rating actions is at the end of this rating action commentary.
KEY RATING DRIVERS
Andorra’s IDRs reflect the following rating drivers:
The country’s wealth, relatively strong public finances and political stability are balanced by the economy’s small …
MoreModern design: banks. Logo of the Andorran Morabank, avenue Meritxell, 2017
MoreS&P Global Ratings affirmed its ‘BBB-/A-3’ long- and short-term foreign and local currency sovereign credit ratings on the Principality of Andorra. The outlook remains stable.
According to S&P, Andorra’s government continues to pursue its reform agenda, the country’s economy is gradually recovering, government finances remain under control, and the financial sector has stabilized.
As a result, S&P …
MoreFitch Ratings has affirmed Andorra’s Long-Term Issuer Default Rating (IDR) at ‘BBB’. The Outlook is Stable. Fitch has also affirmed the Short- Term IDR at ‘F3’ and Country Ceiling at ‘A-‘, reports agency.
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The Andorran Council of Ministers approved the new simplified rules for the provision of statistical data on banking and financial transactions of legal entities of the principality to the European Central Bank.
The Bank is the supervising authority of the Andorran financial system. The requirement was put forward within the framework of the Monetary agreement between …
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