November 7, 2017 |
Ecuador’s financial institutions were exposed to likely volatility from the presidential elections this year and faced an uncertain first quarter. The second quarter, however, followed with lofty expectations, after President Lenín Moreno won at the polls in March. Produbanco enjoyed 16.9% overall growth between June 2016 and this June , well ahead of the 14.7% industry average, according to a report from Pacific Credit Ratings. The bank also set aside concerns of market instability and boosted profits by 4.75% in the first quarter of 2017. The winner of this year’s Bank of the Year: Ecuador accounted for 8.3% of profits in the country’s commercial banking sector, with net income nearly doub
Ecuadorean bank tackles the uncertainty of a new administration, aiming to grow net profits and roll out two new credit card initiatives.