The Cash Flow - The Business Year

Ricardo Cuesta D.

Executive President, Banco Promerica

We have introduced several innovative products, one of which is called Cuenta Óptima. The tool functions as a second checkbook that has an automatic overdraft facility, but does not use any credit account. Instead, it draws from a parallel account. In the market it is recognized as the same check, so you are not doing business with an overdraft, but instead with your own current account. It is very convenient for small businesspeople whose cash flow varies. If their cash flow is low, they can use their overdraft facility, which is pre-approved, by issuing a check. This is a very successful product that we offer small companies. We also have introduced Flexiahorro, a product that creates a savings discipline, becoming the solution for families who recognize the importance of saving. Another new product is Cashback, a credit card reward program that returns 1% of the value of the customer’s consumption.

Arturo Hidrobo Estrada

President, Banco Capital

The banking system in Ecuador can be seen as strong and solvent, able to adapt quickly to the demands of both the market and regulatory bodies. That’s mainly thanks to responsible and prudent management; in Banco Capital’s case this has allowed us to stay in the financial sector for 20 years, with financial indices that are even above the system average. However, 2013 will be a year in which generating higher returns will be a major challenge. Also, credit placement slowed down in 2012, especially in the consumer segment, and that will have to be analyzed very carefully to avoid affecting the quality of the portfolio. However, we are aware that the financial margins of institutions must be addressed strategically; having maximum rates regulated by regulatory bodies, these must be properly managed versus borrowing rates on deposits.

Andrés Baquerizo Barriga

President, Andrés Baquerizo Barriga

Our success is based on prioritizing our clients’ best interests. As the second largest bank in the country, we remain at the forefront of the financial sector with high levels of liquidity, and good efficiency and credibility rates. We are the first and only Ecuadorean bank with a stable AAA risk grade. As the most innovative financial institution in Ecuador we are also developing a pioneering paycheck system aimed primarily at helping SME’s and distributors to streamline transactions with their employees and suppliers. Additionally, our mobile banking project, a key element of our business strategy, makes our payment and transfer services accessible 24/7, both in Ecuador, and abroad. Our recently launched Smartphone app provides the user with information on their current balances, the nearest ATMs, and branch working hours and services.

Angelo Caputi

Banco de Guayaquil, Executive President

Over the years, Banco del Pacifico has played a key role in modernizing Ecuador’s banking industry through the application of modern technologies. Recently we have supported strategic economic sectors defined by the government as Ecuador’s productive matrix changes. Throughout 2012 and 1H2013, we have expanded our network of banking correspondents to up to 1,700 to enhance banking penetration, giving special attention to middle to lower classes of the population, particularly in remote locations. We currently rank second amongst Ecuador’s largest banks—we have a (AAA-) risk rating, the evolution of our financials has been consistently positive, and our wide range of financial resources provides funds for short-, medium-, and long-term needs. We serve all sectors of the economy and our diverse product range meets the needs of our multi-target customer base. As a universal bank, we provide services to all clients: SMEs, corporate, consumer and retail loans, mortgages, credit cards, and micro credits.