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Best Bank Ecuador: Double the Trouble

Nov 1, 2009

The impact of the credit crisis is a theme for all LatAm banking systems, and in Ecuador there is the added question of political volatility.


In 2009, caution is again the smartest policy as economic growth returns. And again Banco Pichincha is the Bank of the Year in Ecuador.

“The problem we are facing is that the policy the government is following is one where it is trying to control everything in the financial system,” Pichincha general manager Fernando Pozo tells LatinFinance. He explains the banks cannot manage risks through interest rates, as the government is setting what they can charge, and also regulates fees. Nevertheless, Pozo says the financial system...

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At a fundamental level, the issue is how to generate healthy returns in the medium to long term. Policy holders can see their fund go down over the course of a week or a month, but what we really should be looking at is returns over 20 or 30 years.

Daniel Schydlowsky, Peru’s banking, insurance and private pension fund regulator


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