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Andorra’s oldest private bank is undertaking an international expansion aimed at the United States and Latin America.

Andbank, Andorra’s oldest private bank, has been making waves in Latin America through a number of new acquisitions. At the beginning of the year, the bank acquired Miami-based Swiss Asset Advisors, a wealth management firm with $300 million in assets under management. This was followed by the opening of a new bank in the Bahamas. Through acquisitions like these, the bank managed to double its size in just five years to almost $20 billion under management, and grew from being present in just five countries to 11. “These acquisitions fit in with our internationalization projects, which we have undertaken since 2000,” Javier Rodríguez Amblés told LBC. The bank has also expanded to Spain in the past year, and deepened its presence in a number of countries.

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