Debtors have more difficulty paying their bills on time, at least according to the indicators of default. According to the Superintendency of Banks, credits of priority consumption register a default rate of 7.57% until August this year. The banking sector has recognized the increase in arrears of its clients, but states that, in the event that these debts are not recovered, these are covered by others.
According to the Association of Private Banks of Ecuador, provisions carried out by institutions exceed their accounts receivable by more than 100% (116% according to the Superintendency until the eighth month of 2015). That is, for every dollar that fails to be collected in its default consumer portfolio, they have $ 1.16 reserved as backing.
In total, banks record a total balance in their credit portfolio of 18.370 million: 6.648 million for priority consumption and just 17.5 million for ordinary consumption. The real estate credit achieved 1.738 million dollars, the micro-enterprise, 1,454 million dollars. The strong credit continues to be trade credit (which now is also qualified as priority) and that usually reaches companies with significant sales.