Pichincha Eyes Spain Presence

Pichincha Eyes Spain Presence

Andean

Ecuador’s biggest bank, Pichincha, is expanding to Europe while also planning to cash in on a significant boom in microfinance activity at home. “We have rep offices in Spain but now we’re working on setting up a bank there,” Antonio Acosta Espinosa, co-president at Pichincha tells LatinFinance. The European unit will focus on servicing Ecuadorian emigrants in Spain, including credit and remittance services. The shop is in advanced legal discussions in Quito and Madrid, and expects to resolve pe

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