According to the Central Bank of Ecuador (BCE for its Spanish acronym), the volume of credits granted last year by the institutions of the private financial system reached 19.426 million dollars: 5.079 million less than in 2014.
The number of transactions also fell. The figure fell by almost one million less (0.98 million) compared to the last period, according to the BCE. Only this past December, on average, customers accessed to credits by $ 2,814 (per capita).
Banks, due to their weight in the entire financial industry, are the ones that mostly took part in the financing granted. “63.47% of transactions were from private banks, while 25.26% of the total operations of the private financial system came from finance companies,” the BCE points out. The total maturing loan portfolio of the financial system (private banks, mutual societies, financial corporations) in November 2015 was $ 19,576.4 million, ie nearly one fifth (19.7%), which shows the affectation of the GDP when credit declines, as happened last year.