The Central Bank of Ecuador reported that credit granted by the national financial system increased 20.9% year over year to USD 4.978 billion in October 2026, driven mainly by private banks. Term deposits taken during the month rose 5.3% to USD 8.063 billion. Over January through October, however, lending grew 11.1% while the cumulative amount of term deposits declined 1.2% compared with the same period in 2025.
Private banks’ lending increased 22.8% in October, accounting for 84.9% of the financial system’s credit growth. They also provided 77.8% of total credit granted during January through October. Over that period, productive and consumer credit represented 51.7% and 30.3% of lending, respectively. By economic activity, wholesale and retail trade, including vehicle repairs, received the largest share at 39.5%, equivalent to USD 12.234 billion and an annual increase of 3.2%.
The cumulative decline in term deposits reflected reductions of 14.8% at public banks and 1.6% at private banks. Institutions in the popular and solidarity financial sector recorded an increase of 1.4%, contrasting with the declines in both banking groups.