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Awards for Excellence 2009: Ecuador

Best Bank: Banco del Pichincha

To hold the number one position in market share, assets, loans and profitability in Ecuador suggests that the bank in question is doing something right.

In fact, Banco del Pichincha has been doing everything right for several years and its general manager, Fernando Pozo, is a leading figure in the development of the Ecuadorian banking system. He is in talks with the government about the need for more flexibility over interest rates, especially as the country stands at the brink of a financial meltdown following its debt default last November.

Even so, Pichincha has managed to produce impressive results: return on equity for the retail division was 88.5%,