QUITO, Ecuador--Twenty-four private banks operating in Ecuador,
plus the state-run Banco del Pacifico, posted a combined $311
million net profit in the first 11 months of 2012, down 11% from
$349 million in the same period of the previous year, the country's
banking regulator said.
Banco del Pichincha CA (PCH.GU), Banco del Pacifico, Banco de
Guayaquil and Produbanco topped the list, with $78 million, $49
million, $34 million and $31 million in earnings, respectively,
according to the report.
The four banks accounted for 62% of the reported combined income
and also 62% of Ecuador's banking assets.
Another 6% of the reported income came from foreign banks, the
U.S.'s Citigroup Inc. (C), Dutch-German Procredit and Panama's
Promerica.
According to official data, assets in the banking system totaled
$27 billion for the January-November period, while liabilities were
$24 billion.
Sight deposits totaled $15 billion, term deposits $6 billion and
investments $3 billion.
Write to Mercedes Alvaro at mercedes.alvaro@dowjones.com
Order free Annual Report for Citigroup, Inc.
Visit http://djnweurope.ar.wilink.com/?ticker=US1729674242 or
call +44 (0)208 391 6028
Subscribe to WSJ: http://online.wsj.com?mod=djnwires