|
|
|
|
Search: 
Latin American Herald Tribune
Venezuela Overview
Venezuelan Embassies & Consulates Around The World
Sites/Blogs about Venezuela
Venezuelan Newspapers
Facts about Venezuela
Venezuela Tourism
Embassies in Caracas

Colombia Overview
Colombian Embassies & Consulates Around the World
Government Links
Embassies in Bogota
Media
Sites/Blogs about Colombia
Educational Institutions

Stocks

Commodities
Crude Oil
US Gasoline Prices
Natural Gas
Gold
Silver
Copper

Euro
UK Pound
Australia Dollar
Canada Dollar
Brazil Real
Mexico Peso
India Rupee

Antigua & Barbuda
Aruba
Barbados
Cayman Islands
Cuba
Curacao
Dominica

Grenada
Haiti
Jamaica
Saint Kitts and Nevis
Saint Lucia
Saint Vincent and the Grenadines

Belize
Costa Rica
El Salvador
Honduras
Nicaragua
Panama

Bahamas
Bermuda
Mexico

Argentina
Brazil
Chile
Guyana
Paraguay
Peru
Uruguay

What's New at LAHT?
Follow Us On Facebook
Follow Us On Twitter
Most Viewed on the Web
Popular on Twitter
Receive Our Daily Headlines


  HOME | Ecuador (Click here for more)

Ecuador’s Pichincha Becomes First Latin American Bank in Spain

MADRID – Banco Pichincha, Ecuador’s largest, announced Wednesday that it will become the first Latin American commercial bank in Spain after clearing a final regulatory hurdle.

The main subsidiary of Grupo Financiero Pichincha, which operates in Peru, Panama, Colombia and the United States, the bank has 1.8 million customers in Ecuador, $4.5 billion in assets and $4 billion worth of deposits.

Assignment of a registration number from Spain’s central bank was the bank’s last requirement for operating in the country, having earlier received authorization from the Economy Ministry.

The bank will launch in two stages, first in Madrid beginning in May and then in Barcelona, Valencia, Murcia and Alicante in June, offering traditional bank services: checking accounts and savings and loan products.

Pichincha first arrived in Spain in 2007, operating a network of nine customer-service centers mainly focused on attending to the more than 750,000 Ecuadorians who live in different parts of the Iberian nation, according to the Ecuadorian Embassy in Madrid.

By setting itself up as a commercial bank, Pichincha is looking to position itself as the first global bank for Latin American migrants, not only from Ecuador but also the other Andean countries – Peru, Colombia, Bolivia, Chile and Venezuela.

It also plans to launch a call center and embark on an ambitious expansion plan that will involve opening 20 new branches in four years.

Banco Pichincha has a AAA- rating, the highest awarded by credit rating agency Pacific Credit Rating to a Latin American bank. EFE
 

 

Xbox Live Gratuit
Copyright Latin American Herald Tribune - 2009 © All rights reserved