Bank of the Year Ecuador

Bank of the Year Ecuador

Corporate & Sovereign Strategy Bonds

Under increased strain from the government, Ecuador’s banks have less to work with to turn a profit. Nonetheless, Banco Pichincha, the winner of LatinFinance’s 2015 Bank of the Year Ecuador award, has raised the bar for its competitors.During the past year and half, many Ecuadorian banks have had to scale down their operations, due to recent government regulations that put tighter rules on mortgages and car loans.Pichincha has managed to maintain a diversified funding portfolio. In March it nabbed an $80 million A/B loan from the Inter-American Development Bank, while in July it was heard to be seeking approval to tap the Colombian bond market through its subsidiary there. Additionally, its

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