Credit is growing in the Costa region, driven by commercial houses, while in the Sierra it is the cooperatives that grant the largest number of mortgages.
The people who live in It costs Ecuadorian they are the ones that most they agreed to credit during the first half of 2022, according to the Credit Barometer study, by the Equifax office.
Of the total number of people with credits in Ecuador, the 48% corresponded to customers of Seven provinces of the coastal region.
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Meanwhile, the 46% of customers with credits was from Sierra the Andean area of Ecuador.
just a 6% of credits went to Amazonia and Galapagos.
The number of placements of credit in the first half of 2022 highlights a new fashionwell the Sierra was the region where there were more operations of credit between 2018 and 2021explains the researcher responsible for the study, David Castellanos.
Direct credit on the coast
The increase in operations on the coast explains why the trading houses they are approving more direct credit in that region of the country, says Castellanos.
These establishments deliver credit to finance products such as mobile phonecomputers, clothing and home appliances.
There are companies that approve credits only with the requirement present the identity document and two referent referents.
S trading houses approved 635,772 operations credit for customers It costs in the first half of 2022, according to Equifax.
That figure is almost double of the number of credits compared to commercial houses They crossed into the Sierra.
Also, the trading houses granted USD 421 million credits direct to customers on the coast, compared to 156 million dollars approved for customers in the Sierra.
two factors
Castellanos explains that there is two factors which have historically contributed to the existence of more credit in the Sierra than on the coast
The first is that the Savings and credit cooperatives began operating in the provinces of the Sierra, where they have more customers.
Indeed the cooperatives have approved 481,961 credits in the Sierra, this is 2.5 times more that the credit operations resolved in art coastal provinces.
And the second factor is that there is more dedicated population on the coast informal jobssuch as trade, adds Castellanos.
So it is likely that more customers of the The coast finds it difficult access the required credit stricter conditions.
And for this reason, the trading housesWhich ones are they less severe with credit approvals, they gained more space.
“Commercial house credit is important for the informally employed or underemployed population.”
David Castellano
Fewer resources on the coast
Although there are more credit operations on the Costa, in the Andean region people have received higher value loans.
In the Sierracustomers accepted USD 7,161 million credits in the first half of 2022. 56% of these resources were placed by cooperatives and by 41% from private banks.
Conversely, in It costscredits added $3.56 billion in that same period.
