Banco Pichincha


The project consists in providing a USD 15 million subordinated loan to Banco Pichincha, a leading Bank in Ecuador. The purpose of BIO's funding is to strengthen Pichincha's capital base and to foster the development of the Bank's loan portfolio for MSMEs in Ecuador.

Through this investment BIO will encourage the growth of the Bank’s activities and contractually request the use of our funds exclusively for the growth of the MSME segment.

Development impacts:

  • Local economic growth: credit provision to MSMEs: The primary goal of this project is to provide access to credit to microenterprises and SMEs in Ecuador. Banco Pichincha is the bank with the largest SME and MFI loan portfolio in the country.
  • Private sector consolidation/innovation: Through the NBCs (non-banking correspondent) the Bank reaches a financial inclusion objective of adding to its customer base a greater number of Ecuadorians who did not have any access to financial services. BP has brought financial services to stores, pharmacies, cyber cafes, groceries stores, etc. Offering financial inclusion opportunities is one of the main courses of action of the NBCs. 80% of Pichincha´s NBCs are located on the outskirts of populated areas.
  • Financial inclusion: access to credit for micro-enterpreneurs
  • Investment amount (€):

    € 13.78 M

  • Contract signature :


  • Nature of intervention :


  • Development impacts :

    • 1 — Local economic growth
    • 2 — Private sector consolidation/innovation
    • 3 — Financial inclusion