Page 103 - economic report 2021

AGGREGATE - CONSOLIDATED BALANCE SHEETS OF ANDORRAN BANKS (thousands of euros) Table 12.6

2021 2020*
Assets
Cash, cash balances at central banks and other demand deposits 2,214,663 2,111,218
Financial assets held for trading 335,068 348,424
Financial assets not held for trading that must be valued at fair value
with changes in income 556,096 587,582
Financial assets at fair value with changes in the income statement 435,150 78,551
Financial assets at fair value with changes in the other comprehensive income 1,683,120 1,423,599
Financial assets at amortised cost 9,908,657 9,200,220
Derivatives - Hedge accounting 5,709 4,237
Changes in the fair value of hedging elements of a portfolio with interest risk hedging 17,728 27,962
Investments in jointly-controlled businesses and associates 155,325 82,894
Assets covered under insurance and reinsurance contracts 38,404 36,827
Tangible assets 472,598 498,367
Intangible assets 417,172 425,468
Tax assets 56,813 48,374
Other assets 154,754 147,894
Non-current assets & disposal groups classified as held for sale 160,648 148,339
TOTAL ASSETS 16,611,905 15,169,956
LIABILITIES
Financial liabilities held for trading 121,487 157,892
Financial liabilities at fair value with changes in the income statement 490,607 449,227
Financial liabilities at amortised cost 13,682,150 12,315,815
Derivatives - Hedge accounting 23,569 40,134
Changes in the fair value of hedging elements of a portfolio with interest risk hedging 171 676
Liabilities covered under insurance and reinsurance contracts 339,306 339,681 101
Provisions 70,872 65,492
Tax liabilities 25,130 26,467
Other liabilities 188,607 188,778
Liabilities in groups of disposable items held for sale 1,508 -
TOTAL LIABILITIES 14,943,408 13,584,160

NET EQUITY
Capital 250,069 245,470
Issue premium 172,792 142,391
Issued equity instruments other than capital 34,700 34,800
Other cumulative global profit/loss (52,082) (34,994)
Accumulated earnings 835,756 819,686
Revaluation reserves 2,288 2,288
Other reserves 316,548 275,893
Own shares (-) (3,202) (2,767)
Profit or loss attributable to owners of the Parent 97,419 83,609
Interim dividend (-) - -
Shareholders’ equity 1,654,288 1,566,375
Minority interests 14,210 19,421
TOTAL NET EQUITY 1,668,498 1,585,796
TOTAL LIABILITIES AND NET EQUITY 16,611,905 15,169,956 The Andorran economy: developments in the main sectors | XII. Services

* The f gures for 2020 are given for comparat ve purposes only.

Source: Andorran Banking from the annual reports of banking inst tut ons.

In recent years, the Principality of Andorra has signed a series of double taxation agreements
(DTA) with different countries, on income and corporate tax and to prevent tax evasion. In 2021,
it signed agreements with the Republic of San Marino and Hungary. These two countries join the