Bank of the Year, Ecuador: Banco de Guayaquil

Bank of the Year, Ecuador: Banco de Guayaquil

Bonds Structured Finance Ecuador Corporate & Sovereign Strategy

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. Two banks stood out for best withstanding the systemic woes. LatinFinance’s 2012 Bank of the Year Ecuador, Banco Pichincha, was one. The country’s biggest lender, it had assets of around $8.4 billion this June, giving it a market share of around 30%. The bank reported

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