Ecuador Banks' January Net Profit Rises 5% To $30.99 Million
March 15 2012 - 9:49AM
Dow Jones News
Twenty-five private banks operating in Ecuador, plus the
state-run Banco del Pacifico, have posted a combined $30.99 million
net profit in January, up 5% from $29.43 million in the same month
last year, the country's banking regulator said Thursday.
Banco del Pichincha CA (PCH.GU), Banco del Pacifico, Banco de
Guayaquil and Produbanco topped the list, with $7.67 million, $5.26
million, $4.36 million and $2.58 million in earnings, respectively,
according to the report.
The four banks accounted for 64% of the reported combined income
and 63% of Ecuador's banking assets.
Another 6% of the reported income came from foreign banks--the
U.S.'s Citigroup Inc. (C), Dutch-German Procredit and Panama's
Promerica.
According to official data, assets in the banking system totaled
$24.24 billion in January, while liabilities were $21.73
billion.
Sight deposits totaled $14.04 billion, term deposits $5.24
billion and investments $3.13 billion.
-By Mercedes Alvaro, Dow Jones Newswires; 5939-9728-653;
mercedes.alvaro@dowjones.com
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