The Association of Banks of Ecuador believes that the ideal time to invest is now. Yesterday, at a press conference in Quito, representatives of the sector said they will invest 10,000 billion for loans during the second half of the year. A lot more than the nearly 2,000 million distributed in the first half.
Julio Jose Prado, President of the Association, said that the banking sector makes a responsible management of its resources and that allows it to place money in complex times. It is a way to resume, he said, the growth path.
Fernando Pozo, representative of Banco Pichincha, who explained that the slight improvement in the amount of deposits generates resources for new loans, agrees with him. The private financial system, they insisted, is solid.
Prado backed his optimism with figures. During 2015, deposits in private banks fell by 12.9%. They totaled 22,273 million at the end of last year. By June 2016, that figure stood at 23.906 million dollars. 1,633 million more.