The banking sector recovers the pace of gains

EcuadorNews:

The accounts of the financial institutions are recovering the stability and the good symptoms of pre-crisis years. Until April, private banks, excluding Banco del Pacifico, earned a net income of $ 83 million, a positive figure compared to last year: $ 53 million.

According to the report of the Association of Private Banks (Asobanca), banks have granted $ 21.146 billion in loans until April. Last year loans amounted at $ 18.633 billion. That is a 13.5% increase.

Deposits accumulated by private financial institutions rose to the same level: 13.8%. These went from 23,521 million dollars in April 2016 to 26,756 million dollars in the same month of this year, that is to say, banks currently have 3,235 million dollars more in deposits.

Thus, the banking business has generated revenues of 1,007 million dollars in the first quarter of the year, 15.9% more, and an expenditure level of 924 million dollars (a 13% more).

The non-performing loans portfolio (unpaid loans) was reduced to 763 million, an improvement if compared to 866 million dollars recorded in April 2016.

This improvement was reflected in a reduction of the level of delinquency that closed April with a 3.61%, while a year ago it was one point above.