Andorra's Money Supply Rises 4.4% to €7.434B in Q2 2026 Despite External Asset Drop

Andorra's broad money supply rose 4.4% year-on-year to €7.434 billion in the second quarter of 2026, even as net external assets in the banking sector declined 7.6%, figures from the Andorran Financial Authority (AFA) show, according to the Statistics Department.

Within the M3 aggregate, transferable deposits accounted for 67.9% of the total, other deposits made up 29.3%, and other non-equity securities comprised the remaining 2.8%. Year-on-year, transferable deposits increased 3.1%, other deposits grew 8.2%, and non-equity securities fell 1.4% from €7.123 billion a year earlier.

Assets to other sectors reached €4.105 billion, up 10.2% from Q2 2025. Over 95% targeted the private sector, including €3.940 billion to households and non-financial firms, and €165 million to other financial entities, reflecting strong credit intermediation activity.

Net external assets, however, dropped to €4.595 billion from €4.971 billion. Assets to non-residents decreased 4.7% to €7.788 billion, from €8.176 billion, while liabilities to non-residents edged down 0.4% to €3.194 billion.

Net assets to the central government, local authorities, and non-financial public corporations shrank 25.2% to €161 million from €216 million, with assets to these entities up slightly by 0.3% to €467 million and liabilities climbing 22.3% to €306 million.

Net assets to the Central Bank also declined 3% to €58 million from €59 million.

The data reveal mixed trends in Andorra's deposit-taking institutions, with private credit expansion offsetting reductions in external and public sector positions.