Best Bank Ecuador: Double the Trouble
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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