Andorra's AREB Reviews Legal Basis for BPA Financial Documents Release
Andorra's AREB is analyzing the legality of releasing Banca Privada d'Andorra's financial statements amid a councillor's appeal against the government's denial. The agency holds the documents independently.
Key Points
- AREB examines parliamentary request for BPA balance sheets and P&L from 2014-2025.
- Request follows protection appeal by councillor Pere Baró after Finance Ministry refusal.
- Government acted as intermediary, forwarding to independent AREB.
- AREB to assess under legislation and relay position to parliament soon.
Andorra's State Agency for the Resolution of Banking Entities (AREB) is examining the legal basis for a parliamentary request seeking Banca Privada d'Andorra (BPA) balance sheets and profit-and-loss statements from 2014 to 2025.
The review follows a protection appeal lodged on 27 August by Social Democratic councillor Pere Baró with General Syndic Carles Ensenyat. It came after the Finance Ministry declined to release the documents, which are held by the independent AREB rather than the executive.
Government spokesperson Guillem Casal confirmed the agency's ongoing legal analysis during a Wednesday briefing. He noted that the government had acted solely as an intermediary, forwarding the request to AREB since it lacks direct access to the records.
Casal emphasised AREB's status as an "independent body with autonomy" that must assess the demand under applicable legislation and General Council regulations. He committed to relaying the agency's position to parliament "as quickly as possible," denying any intent to delay proceedings.
The process echoes past instances where similar requests routed through the government to specialised agencies, Casal added. Under parliamentary rules, councillors like Baró may invoke the syndic's protection if they view information as wrongly withheld.
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