Ecuador
News

Bank operating costs 2nd highest in LatAm

Bnamericas Published: Wednesday, June 11, 2003
Combined operating costs at Ecuadorian banks came in at US$433mn last year, representing 57% of the system's total expenditure, the second highest ratio in Latin America, trailing only Panama with 77%, local daily Espreso reported. The high level of operating expenses compared to total expenditure reflects Ecuadorian banks' ongoing structural problems and comes despite the stabilizing effects of dollarization in terms of inflation and public service costs. The same ratio in Colombia is 30%, in Venezuela 45% and in Peru 47%, according to the countries' respective banking regulators.

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