November 1, 2011
Banco Pichincha, Ecuadors largest bank, has been able to expand beyond its borders, while keeping its financial indicators in line or better than the countrys banking system as a whole.
More acquisitions could be on the horizon for 2012 as the bank looks to maintain its competitive position, while improving its own efficiency ratios and services in existing segments and products.
Last year, Pichincha closed an 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
Ecuador - Best Bank – Banco Pichincha