• ENGLISH
  • ESPAÑOL
facebook
twitter
  • National>Entertainment
  • National>Local Economics
  • National>Local Politics
  • National>Society
  • National>Sports
BREAKING NEWS
Ecuador will sell animal feed to Colombia because of landslide
Alexis Mera gets pre-release after three and a half years in prison
Jorge Glas Unification of Sentences Granted
Ecuador declares illegal mining a threat to state security
International Reserves registered their highest level since the start of dollarization
Government denounces 28 candidates for links to drug trafficking
Constitutional Court dismissed the 7 members of the Council for Citizen Participation and Social Control
Ecuador imported the historic figure of USD 7,646 million in fuels
An Andean bear is released into its habitat after two years in captivity
Ecuador gets ready to vaccinate birds and counter avian influenza

Banks see their income fall after 3 years

Posted On 12 Jan 2016

 

Image: Expreso

Image: Expreso

Neither the reduction imposed to rates charged by loans or the cutting of tariffs for the provided services had been unavoidable. At the end of each year, profits were always in crescendo.

However, 2015, a “complicated” fiscal year, meant a sort of handicap. For the first time, at least in the past three years, banks accumulated less revenues than those of the previous year. Thus, their earnings last year totaled $ 271 million: a slip of 19% compared to their balance sheets of 2014 (334 million dollars).

This decrease has to do with the fall in deposits. Banks have less resources to grant loans, something that contracted its brokerage business. Now with this new income relapse, according to Larry Yumibanda, president of the Association of Economists of Guayas, a lower consumption and private investment is expected, two components of the Gross Domestic Product (GDP), which will aggravate the forecast (2% drop) made by the World Bank this year.

 

Source: http://expreso.ec/expreso/plantillas/nota.aspx?idart=8809191&idcat=38229&tipo=2

 

About the Author
  • google-share
Previous Story

Popular Economy Act gives municipalities one year term to legalize settlements

Next Story

Bajo Alto gas plant, paralyzed for 8 days

SEARCH

LATEST NEWS

Ecuador will sell animal feed to Colombia because of landslide

Posted On 27 Jan 2023

Alexis Mera gets pre-release after three and a half years in prison

Posted On 27 Jan 2023

Jorge Glas Unification of Sentences Granted

Posted On 27 Jan 2023
Copyright © 2010 - 2019. All Rights Reserved. EcuadorTimes.net