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Banco Pichincha invests in Colombia

Banco Pichincha invests in Colombia

February 3, 2023 | Hernán Goicochea
Ecuadorian bank provides $32 mln in fresh capital to grow its loan book in the neighboring country

Corporate & Sovereign Strategy Equity Colombia

Ecuador's Banco Pichincha said its shareholders approved a COP150 billion ($32.5 million) capital injection for its subsidiary in Colombia as part of a COP350 billion increase for the entire group this year. The bank has disbursed the first tranche for COP50 billion and will make another two installments "according to the capital strengthening needs during the rest of the year," it said in a securities filing on Wednesday. Colombia is "a fundamental piece in the regional development of our group

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