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Ecuador's 2012 Banking Sector Profit Down 21% to $312 Million

• foxbusiness.com
 

According to the Bank Superintendency of Ecuador, 25 private banks operating in Ecuador, plus the state-run Banco del Pacifico Ecuador, posted a combined $312 million net profit in 2012 from $395 million the year before.

Banco del Pichincha CA (PCH.GU), Banco del Pacifico, Produbanco and Banco de Guayaquil SA topped the list, with $66 million, $48 million, $41 million and $35 million in earnings, respectively, according to the banking regulator.

The four banks posted 67% of reported income and own 63% of Ecuador's banking assets.

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