Banco Pichincha

Debt : June 2016

The project consists in strengthening Pichincha's capital base and fostering the development of the Bank's loan portfolio for MSMEs in Ecuador.

Amount

€ 13,254,016.72

Type of investment

Debt

Development impacts

  • Local economic growth
  • Private sector consolidation/innovation

Beneficiary locations

Latin America and Caribbean: Ecuador

Investment field

Financial Institutions

Activity

Commercial bank

Organisation

Banco Pichincha

Domicile

Ecuador

Banco Pichincha is the leading bank in Ecuador, and consequently plays a key role as financial intermediary by encouraging deposit mobilization and providing access to financial services to the local population. Pichincha possesses the largest branch network and the largest MSME portfolio in the country as well as an active financial inclusion strategy.

BIO’s financing will support Pichincha in further growing its loan portfolio and permit the development of its financial services offering to MSMEs in Ecuador.

Development impacts

  • Local economic growth

    The primary goal of this project will be to provide access to credit to microenterprises and SMEs in Ecuador. In terms of provision of non-financial services, the Bank is active in providing financial education to its clients in collaboration with shareholder NGO CRISFE.

  • Private sector consolidation/innovation

    In this dimension the main point is related to the work of the Bank in terms of expansion of financial services. Pichincha has been the first bank in bringing financial services to stores, pharmacies, cyber cafes, groceries stores, etc. located on the outskirts of populated areas.

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