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Ecuador's Financial System - Coggle Diagram
Ecuador's Financial System
Ecuador financial system in Ecuador
Banks have taken over the money from the public in exchange for an interest
Banks expansion:
Foreign currency exchange
Equality investments of companies
Pay ment for collections
Money tranfers
Virtual tranfers
Constitucion of the Financial System
Types of institucions
Public banks: manage state funds
Mutualists: Offer mortgage loans
Private banks: Strongest institutions and cover the entire national territory
Credit Cooperatives: Smaller institutions that offer small amout loans
Geographical Location
Before 1999´s crisis financial centeirs were located in Guayaquil
Now they (Financial systems) are in Quito coperatives have grown a lot
Last years
Banco pichinca ( most powerful)
Banco Guayaquil
2.Produbanco
Banco del Pacifico
Mutualists
Cooperatives
Control of the financial System
1999 crisis financial institutions was very incipient: Bad experience of the deposit Guarantee Agency AGD
Deposit Insurance Corporation
State´s control system over the financial system has been strengthened
The financial Liquidity Fund