Bank of America Securities to analyze Banco del Pacifico in concession process

Photo: Internet

Banco del Pacifico is the second most profitable bank in Ecuador.

The Bank of America Securities Inc. will carry out the assessment process of Banco del Pacifico. With this step, the process of granting this financial entity to a private company continues.

Banco del Pacifico’s assets belong to the National Financial Corporation (CFN) and this one, in turn, to the Central Bank (BCE). In September 2019, this bank reached USD 80.7 million in profits, which is equivalent to 17.4 percent of the total private banking system, making it the second most profitable bank in the country.

In the asset book, the manager of the Central Bank, Veronica Artola said that Banco del Pacifico’s amount reaches USD 750 million.

The Government also expects the concession of the Sopladora hydroelectric power plant -to a private company- will conclude early next year.

Source: Pichincha Universal.

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