• ENGLISH
  • ESPAÑOL
facebook
twitter
  • National>Entertainment
  • National>Local Economics
  • National>Local Politics
  • National>Society
  • National>Sports
BREAKING NEWS
Singue case, involving Jorge Glas, is reactivated from the previous investigation
Daniel Noboa is the first confirmed presidential candidate
The World Bank will provide USD 300 million to finance SMEs in Ecuador
Refugee children in Ecuador create comic about forced displacement
Countries to which Ecuadorians can travel without a visa
New air routes will arrive in Ecuador in June
Asian supermarkets participate in Macro Business Roundtable
Smithsonian Museum returns heritage assets to Ecuador
Buyers from 30 countries will be at the Macro Business Roundtable
National Court requests red notice from Interpol for María Duarte

“Pichincha Bank has restricted credits”

Posted On 04 Nov 2015

 

 

Image: Expreso

Image: Expreso

The general manager of the Pichincha Bank, Fernando Pozo, explains that the fall in oil prices has led to a massive withdrawal of deposits, which has resulted, collaterally, in a decrease in the loan portfolio. However, he says, the bank has a prudent policy of appropriate provisioning to just protect the environment risks, both credit as liquidity.

 

In an interview with Daily Expreso, he said that until September the decline in deposits was 6.30% (about 1,600 million) compared with September 2014, a relevant period given the seasonality presented in December.

 

He explained that the Pichincha Bank has restricted the placement of the loan portfolio to maintain an adequate level of liquidity because the bank’s main objective is the protection of customer deposits. “Today, before the opening of the Government to eliminate the tax on foreign exchange outflows for external financing, the bank is negotiating new credit lines from abroad, which would help to lessen the affectation of credit in the fourth quarter.”

 

Source: http://expreso.ec/expreso/plantillas/nota.aspx?idart=8637808&idcat=38269&tipo=2

 

About the Author
  • google-share
Previous Story

The weather affects coastal agriculture

Next Story

Ecuadorian budget for 2016 will receive $ 673.5 million from oil

SEARCH

LATEST NEWS

Singue case, involving Jorge Glas, is reactivated from the previous investigation

Posted On 02 Jun 2023

Daniel Noboa is the first confirmed presidential candidate

Posted On 02 Jun 2023

The World Bank will provide USD 300 million to finance SMEs in Ecuador

Posted On 02 Jun 2023
Copyright © 2010 - 2019. All Rights Reserved. EcuadorTimes.net