Andbank Monaco SAM Advances with Acquisition of Banque Havilland Monaco

Andbank Monaco SAM has entered into an agreement to acquire Banque Havilland (Monaco) SAM, marking a significant expansion in the Principality of Monaco. Announced on August 21, the non-binding offer by Andbank has been accepted, setting the stage for a strategic enhancement of its services in private banking. This move underscores Andbank's robust financial health and its ambition to strengthen its footprint in Monaco, where it has been operational for over a decade.

Founded through a merger in 2001, Andbank brings a rich legacy rooted in nearly a century of banking history, with its origins tracing back to Banc Agrícol i Comercial d’Andorra in 1930 and Banca Reig in 1956. Headquartered in Andorra, Andbank operates 40 subsidiaries predominantly in Europe, reflecting a broad and established presence in the continent's financial landscape.

The acquisition process is poised for diligent execution, involving comprehensive due diligence and awaiting approval from relevant regulatory authorities. Both Andbank Monaco and Banque Havilland (Monaco) are committed to ensuring a seamless transition, focusing on maintaining continuity and the high quality of client services. Gérard Griseti, CEO of Andbank Monaco, along with the institution’s shareholders, are actively mobilizing resources to expedite the completion of this strategic acquisition.