Banco Pichincha

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The Banco Pichincha is the largest private-sector bank in Ecuador, by capitalization and by number of depositors. It is the primary bank of the Pichincha Group (Grupo Pichincha), a business group that includes the companies associated with the bank and businesses related to Fidel Egas Grijalva and his family, which include Diners Club of Ecuador, Picaval and Teleamazonas. As of 2022, the bank has 1.8 million customers in Ecuador, $15.5 billion in assets, $10.5 billion in gross loans and $12.3 billion in deposits, as well as more than 200 branches in the country. Banco Pichincha has a subsidiary in Peru, Banco Financiero Perú, in Colombia, Banco Pichincha (before known as "Inversora Pichincha" and "Banco del Pichincha", and another in Panama, Banco Pichincha Panamá. It also has an agency in Miami, and eight representative offices in Spain, including two each in Madrid, Barcelona, Murcia, and Comunidad Valenciana. It has just received regulatory approval to convert its network of offices in Spain into a commercial bank, the first Spanish commercial bank from Latin America. It has applied to the regulators in Colombia for permission to convert its commercial lending operation in that country, Inversora Pichincha, into a commercial bank.