Best Bank - Ecuador
Ecuador’s Banco Pichincha has been busy expanding within and beyond the country’s borders. At the same time, it has been able to keep its financial indicators in line with or better than that of the banking system as a whole.
The trend is expected to
continue. "In 2010 we expect Ecuadors GDP to grow between
2%-3% and in 2011 it should expand around 4%, which will
certainly help Pichincha grow," says vice president Jorge
Chiriboga. He adds that higher GDP growth could also translate
into more demand for credit.
Ecuadors biggest bank is also spreading its wings. In
2010, Pichincha closed the acquisition of Inversora Pichincha
and Interdinco, which comprised troubled insurance conglomerate
AIGs consumer finance operations in Colombia. Inversora
Pichincha and Interdinco provide consumer finance products in
Colombia, including vehicle financing, personal loans, student
loans, insurance premium financing, commercial loans, credit
cards and retail...
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