What is banking, and what are its benefits in Andorra?

Banking is the industry and practice involving the provision of financial services like receiving deposits, lending funds, and aiding financial transactions. Banks are essential in the economy as they offer crucial financial products and services to individuals and businesses, such as checking and savings accounts, loans, and investment opportunities. Andorra’s banking sector is recognized for its privacy and stability, creating an advantageous setting for private banking services, wealth management, and investment, attracting those in search of confidential and secure financial options.