Banco Bolivariano has strengthen its position as one of Ecuador’s key financial players with good overall figures and effective strategies to maintain shareholders’ returns in the often troubled financial system.
“This year marks Banco Bolivariano’s 25th anniversary. Throughout this quarter century, the bank has achieved many milestones that are especially important considering the volatile nature of the Ecuadorian economy during this period,” says CEO Miguel Babra.
“In recent years, the country’s financial system has grown its deposit base and loan portfolios considerably, and Banco Bolivariano is no exception. We continued our expansion into the consumer banking segment by growing our housing loans by 57%. In 2004 we were the first bank to fully switch our debit cards to Visa Electron, which allows our debit card holders to make purchases and cash withdrawals throughout the world. We pioneered the implementation of a fully digitalised account statement, to minimise the use of paper and reduce operational costs.
“We continue to support the Ecuadorian communities living abroad and their families by channelling 25% of the remittances to the country. We have introduced products developed jointly with our partners in Spain that allow Ecuadorians living abroad the possibility of buying a house in Ecuador for their use or their family’s.”
