ResponsAbility Social Investments, a Swiss investment company, has notified MicroCapital that it recently disbursed loans totaling USD 8 million to Banco Pichincha of Ecuador, a commercial bank that offers financial services to corporations; retailers; and micro-, small and medium-sized enterprises. USD 3 million of the total was disbursed as subordinated debt. As a result, responsAbility has a total of USD 15.5 million in loans outstanding to Banco Pichincha.
ResponsAbility reported total assets under management of approximately USD 1.4 billion as of March 2013. For the same year, Banco Pichincha served 1.8 million customers and reported to Emerging Markets Information Service total assets of USD 7.9 billion, deposits of USD 4.4 billion, return on assets (ROA) of 0.08 percent, return on equity (ROE) of 0.87 percent. Banco Pichincha has not reported data on its gross loan portfolio amount.
By Jennifer Young, Research Associate
About responsAbility
Founded in 2003, responsAbility Social Investments AG is a Swiss investment company whose products aim to enable investors to earn a financial return while assisting people in emerging markets to access information and markets in sectors such as microfinance, small and medium-sized enterprise (SME) financing, fair trade and independent media. As of March 2013, responsAbility reported total assets under management of approximately USD 1.4 billion. responsAbility is backed by Swiss financial institutions and a social venture capital company as founders and shareholders including Baumann & Cie, Banquiers, Credit Suisse, Raiffeisen Schweiz, Swiss Re, Bank Vontobel AG as well as George Avenue.
About Banco Pichincha
Banco Pichincha is a commercial bank that was established in Ecuador in 1906. It provides financial services to corporations; retailers; and micro-, small and medium-sized enterprises. As of 2013, Banco Pichincha served 1.8 million customers and reported to Emerging Markets Information Service total assets of USD 7.9 billion, deposits of USD 4.4 billion, return on assets (ROA) of 0.08 percent, return on equity (ROE) of 0.87 percent. Banco Pichincha operates 307 branches in twenty-four provinces in Ecuador. Banco Pichincha does not report to the US-based nonprofit Microfinance Information Exchange (MIX).
Sources and Additional Resources
Information submitted by responsAbllity to MicroCapital.
MicroCapital Story: “MICROCAPITAL BRIEF: ResponsAbility Funds Invest $2m in ProEmpresa of Peru, $1.5m in COAC Progreso of Ecuador,” October 15, 2012.
https://www.microcapital.org/microcapital-brief-responsability-funds-invest-2m-in-proempresa-of-peru-1-5m-in-coac-progreso-of-ecuador/
MicroCapital Story: “MICROCAPITAL BRIEF: ResponsAbility Loans $5.3m to ProCredit Mexico, COAC Riobamba of Ecuador.” September 14, 2012.
https://www.microcapital.org/microcapital-brief-responsability-loans-5-3m-to-procredit-mexico-coac-riobamba-of-ecuador/
MicroCapital Story: “MICROCAPITAL BRIEF: responsAbility Loans $3.3m to Microfinance Institutions D-Miro of Ecuador, Fielco of Paraguay, Nueva Vision of Peru,” June 16, 2012.
https://www.microcapital.org/microcapital-brief-responsability-loans-3-3m-to-microfinance-institutions-d-miro-of-ecuador-fielco-of-paraguay-nueva-vision-of-peru/
MicroCapital Story: “Inter-American Development Bank (IDB) Arranges $22m Syndicated Loan to Banco Pichincha of Ecuador for Housing, Microfinance, SME Lending”, December 29, 2010.
https://www.microcapital.org/microcapital-brief-inter-american-development-bank-idb-arranges-22m-syndicated-loan-to-banco-pichincha-of-ecuador-for-housing-microfinance-sme-lending/
MicroCapital Story: “MICROCAPITAL STORY: Banco Pichincha of Ecuador Receives $75m from Inter-American Development Bank for Microfinance Endeavors,” May 26, 2008.
https://www.microcapital.org/microcapital-story-banco-pichincha-of-ecuador-receives-75m-from-inter-american-development-bank-for-microfinance-endeavors/
MicroUniverse Profile: responsAbility
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=responsAbility
MicroCapital’s Microfinance Universe profile: Banco Pichincha
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Banco+Pichincha
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