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THE FINANCIAL SYSTEM IN ECUADOR, imagen, imagen, imagen, imagen, imagen,…
THE FINANCIAL SYSTEM IN ECUADOR
THE FINANCIAL SYSTEM IN ECUADOR
Traditionally, banks have taken over the money from the public in exchange for an interest. The weight of the financial sector has been denominated as the era of financial capital domination.
Public Banks
Theymanagestate funds. Includes the Central Bank, State Bank, Development Bank, Ecuadorian Housing Bank, Pacific Bank, etc.
CONSTITUTION OF THE FINANCIAL SYSTEM
Private Banks
They are the strongest institutions and cover the entire national territory.
Savings and Credit Cooperatives
They are smaller institutionsthatoffer small amountloans.
Mutualists
Financial institutions thatoffermortgage loansfor construction or home purchase.
GEOGRAPHICAL LOCATION
Before the crisis of 1999, the financial centers were located in Guayaquil, today they have moved mostly to Quito.
CONTROL OF THE FINANCIAL SYSTEM
After the bad experience of the Deposit Guarantee Agency (AGD), the Financial Liquidity Fund has been created, whose objective is to provide extraordinary loans when financial institutions need it.
Between the year 1999 and 2000, the guarantee system for public deposits in financial institutions was very incipient.
LAST YEARS
At the end of the first decade of the 21st century, the Pichincha Bank is the most powerful institution in the country with the largest asset deposits and assets.
