Ecuador: Average of 3.5 percent of loans to banks delinquent

metroecuador.com.ec (machine translated) The level of delinquency in Ecuador has declined and stands at an average of 3.5 percent, said today, June 7, the president of the Association of Private Banks of Ecuador, Julio José Prado.

“Numbers are declining,” he said in an interview on public television recalling that until the middle of last year, the delinquency grew “mostly tied to the government, and the tax sector at that time, could not pay in time Debts to suppliers and accumulated “.

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When the government does not pay them, Prado explained, “it increases delinquency, it does not (take) credits and (people) do not deposit at the same speed”.

“Today, we have seen that all this is already entering the norm and the level of default in Ecuador is on average 3.5 percent, (which is something) manageable,” he said.

Regarding the region, he considered that his country is “well”, at “fully adequate” levels.

The declining trend in this indicator has been recorded in most sectors, including consumption, where last year stood above 10 per cent and has now entered “more adequate levels” around 7.5 Percent, he said. EFE