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TOPIC 22 THE FINANCIAL SYSTEM IN ECUADOR - Coggle Diagram
TOPIC 22 THE FINANCIAL SYSTEM IN ECUADOR
THE FINANCIAL SYSTEM IN ECUADOR
The weight of the financial sector has been denominated as the era of financial capital domination. Large banks have merge with financial companies, credit cards, general insurance, brokerage houses, becoming a power of great economic importance.
CONSTITUTION OF THE FINANCIAL SYSTEM
This system is constituted by several types of institutions, both public and private.
These are the main types of financial systems:
Private Banks They are the strongest institutions and cover
the entire national territory.
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.
Savings and Credit
Cooperatives
They are smaller institutions that offer small
amount loans.
GEOGRAPHICAL LOCATION
Before the crisis of 1999, the financial centers were located in Guayaquil, today
they have moved mostly to Quito. The public banks remained unchanged. The
ones that grew were the cooperatives.
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. As for cooperatives, the geographical distribution is more homogeneous in the provinces, both coastal