The entities are going to defer the due installments of credit cards, microcredit and consumer and housing loans
Given the challenges faced by Ecuadorian families and microbusinesses due to power outages, private banks have decided to implement an extraordinary deferral of up to 90 days in credit installments, the company announced in a statement. Association of Private Banks of Ecuador (He explains).
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This deferral will be applied to those clients with payment difficulties in their housing, consumer, credit card and microcredit loans. Likewise, the credit situation in other segments will also be analyzed, case by case, to provide a solution that adjusts to the particular reality of each client, the bulletin added.
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Recovery of credits delivered
In their work of financial intermediation, the resources that banks channel in the form of credits belong to their depositor clients. For this reason, and considering the Constitutional mandate to protect such deposits, actively and with special emphasis in complex moments like this, private banks will facilitate these extraordinary financial reliefs to guarantee the recovery of the credits they deliver.
Since each client’s situation is not the same, the analysis will be carried out on a case-by-case basis to provide a solution that fits the particular circumstance of each one.
Thanks to technical and prudent management of resourcesprivate banks have consolidated their solidity and solvency, committing to continue protecting the trust and deposits of Ecuadorians.
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