Andbank Targets Training 600-1,000 Annually in Financial Education

Andbank has set a target to train between 600 and 1,000 people annually in financial education, according to CEO Carlos Aso.

Aso described financial education as a key strategic and social priority for the bank. Over the past three years, Andbank organised 47 training sessions that reached 1,230 participants. This figure forms the foundation for future goals, with plans this year to deliver about half the total sessions from that period.

“We should reach 600 people each year. Between 600 and 1,000 people each year in terms of impact,” Aso said, describing the targets as realistic for strengthening the programme.

The sessions have taken place across various settings, including companies, private organisations and public institutions, to engage diverse audiences. The bank has partnered with local groups while also launching its own outreach efforts to explain financial concepts to the public. For 2026, it plans to focus more on schools and secondary institutes, though details remain pending.

Aso warned that inadequate financial knowledge represents a structural issue not just in Andorra but across Europe. He estimated that 90% of the population lacks basic information in this area, largely because core economic ideas—such as how annual percentage rates (TAE), internal rates of return (TIR), mortgages and the true cost of money work—have not been part of traditional school curricula.

Better training, he argued, would help people avoid poor choices by fully grasping the risks and returns of products or investments. Many options appear appealing at first glance but prove otherwise when their mechanics are not understood.

Looking ahead, Andbank aims to expand these efforts by blending in-person activities with digital content and increasing involvement in businesses and educational centres. The goal is lasting influence that boosts society’s ability to make informed financial decisions, Aso said.