BIESS has granted more than 200,000 loans so far

- Tuesday, February 22, 2011

BIESS has granted more than 200,000 loans so far

Four months after its founding, Ecuadorian government bank BIESS said it has granted more than 155,000 unsecured short-term loans, as well as nearly 52,000 secured loans.

In a press release, the bank said it was on track to meet the goals it set out for 2011 when it was granted a banking license in October: US$198mn in new unsecured loans, US$193mn in new mortgage lending, and US$22mn in secured loans.

The bank also said that this year it will open up lines of credit for purchasing offices, retail establishments and undeveloped land, though it did not specify when.

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