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Ecuador's financial system - Coggle Diagram
Ecuador's financial system
The financial system in Ecuador
Banks carry out
Money transfers
Payments for collections
Quity investments of companies
Virtual transfers
Foreign currency exchanges
Geographical location
Public banks were unchanged
The ones that grew where the cooperatives.
Before the 1999 crisis, the financial
centers were located in Guayaquil,
today they are in Quito.
Last years
XXI Century
The Bank of Guayaquil, Produbanco and
Pacific Bank had less power.
Cooperatives are distributed in all provinces.
Banco Pichincha is the most powerful institution.
Mutualists and financial societies declined.
Control of the financial system
The state paid part of the money that the citizens had deposited in the banks.
After the bad experience of the Deposit Guarantee Agency (AGD), the Liquidity Fund was created.
Between 1999 and 2000, the credit was granted to private banks.
The Deposit Insurance Corporation's mission is to protect public deposits in private financial institutions.
Constitution of the financial system
Public Banks
They manage state funds. Includes the Central
Bank, State Bank, Development Bank,
Ecuadorian Housing Bank, Pacific Bank, etc.
Mutualists
Financial institutions that offer mortgage loans
for construction or home purchase.
Private banks
They are the strongest institutions and cover
the entire national territory.
Savings and Credit Cooperatives
They are smaller institutions that offer small
amount loans.
