Few European countries can boast a well-capitalised banking system that is faring well in the context of the region's current financial crisis, but this is the case in Andorra, the tiny principality located in the Pyrenees mountain range.
By focusing on activities that are less capital-intensive, essentially wealth management, and adopting cautious investments strategies, the five banks that operate in the country have been able to deliver strong results, despite the ongoing troubles in the eurozone. But they are also in active search for new territories and clients in order to reduce their historical dependency on a single foreign market.
