Bank of the Year, Ecuador: Banco de Guayaquil
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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