Twenty-five private banks operating in Ecuador, plus the state-run Banco del Pacifico, posted a combined $94.7 million net profit in the first quarter, up 7% from $88.7 million in the same period last year, the country's banking regulator said Wednesday.

Banco del Pichincha CA (PCH.GU), Banco del Pacifico, Banco de Guayaquil and Produbanco topped the list, with $23.8 million, $15.8 million, $13.3 million and $7.3 million in earnings, respectively, according to the report from the superintendent of banks.

The four banks accounted for 64% of the combined income and 63% of Ecuador's banking assets.

Another 6% of the income in the report 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 $25.4 billion during the first quarter, while liabilities were $22.8 billion.

Sight deposits totaled $14.7 billion, term deposits $5.6 billion and investments $3.5 billion.

-By Mercedes Alvaro, Dow Jones Newswires; 5939-9728-653; mercedes.alvaro@dowjones.com

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