Bank of the Year, Ecuador: Banco de Guayaquil

Nov 1, 2013

In a difficult year for Ecuadorean banks, one lender stands out for making the best of a tricky situation

It's been a tough year for Ecuador's banks. Across the banking system, profitability has plummeted. For the year ended June 30, 2013, return on equity had dropped a full six points from its average of 15.3% a year earlier. Return on assets took a blow of a similar magnitude: falling from 1.5% to 0.9% in the year to June 2013. Across the board, capital has fallen, non-performing loans have risen, and liquidity has thinned....

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“The crisis has been a setback for reserve diversification."

Jan Dehn, Ashmore Investment Management