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The Financial system in Ecuador - Coggle Diagram
The Financial system in Ecuador
Financial system in Ecuador
Constitution of financial system
Geographical location
Last Years
Control of the financial system
banks have taken over the money from the public in exchange for an interest
the banking sector has expanded to more complex
Private Banks
Mutualists
Savings and Credit Cooperatives
Public Banks
Before the crisis of 1999, the financial centers were located in Guayaquil, today they have moved mostly to Quito.
the Pichincha Bank is the most powerful institution in the country with the largest asset deposits and assets
followed by the Guayaquil Bank
Produbanco and Pacific Bank as for cooperatives
result of the crisis of 1999, the mutualistic and the financial societies, which in the past were numerous, have diminished
year 1999 and 2000
the State had to pay a good part of the money that the citizens had deposited in the banks
the State's control system over the financial system has been strengthened
After the bad experience of the Deposit Guarantee Agency (AGD), the Financial Liquidity Fund has been created
The Deposit Insurance Corporation has the mission of protecting the deposits of the public