Pichincha Says Well Positioned for Crisis

Pichincha Says Well Positioned for Crisis


Ecuador’s biggest bank, Pichincha, is suffering the double punch of external and internal crisis, but it claims to be well positioned to survive. “Right now we are being prudent and waiting,” Antonio Acosta Espinosa, co-president at Pichincha tells LatinFinance. “The world has changed very quickly . . . but we don’t anticipate a situation in which financing lines to Pichincha are reduced.” However, the official notes a sudden decrease in trade financing providers. “Now we’re talking to 5-6 banks

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