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Ecuador’s Credit Card Usage Reaches New Heights in March 2019

QUITO, Ecuador - The number of credit cards issued by banks in Ecuador has reached a new record high in March 2019, according to data released by the Superintendence of Banks.

Key Statistics

  • Total outstanding credit cards: 622,000 units
  • Increase from February 2019: 2.3%
  • Year-on-year growth: 4.8%

Credit Card Issuance by Bank

  • Banco General Rumiñahui:
    • New cards issued in March: 42,774
    • Total outstanding cards: 373,000 units
    • Increase from February: 1%
    • Year-on-year growth: 13.4%
  • Banco Guayaquil:
    • New cards issued in March: 326,462
    • Total outstanding cards: 1,142,000 units
    • Increase from February: 1.3%
    • Year-on-year growth: 12.2%
  • Banco Internacional:
    • New cards issued in March: 124,723
    • Total outstanding cards: 555,000 units
    • Decrease from February: 1.9%
    • Year-on-year decline: 3.6%

Analysis

The data suggests that Ecuador’s banking sector is continuing to grow, driven by increasing consumer confidence and economic stability. The country’s credit card market has been growing steadily over the past few years, with an average annual growth rate of around 10%.

“This latest data reinforces our expectations of continued growth in Ecuador’s financial sector,” said Maria Rodriguez, an economist at Andean Economics. “The increasing adoption of credit cards is a key indicator of consumer confidence and economic stability.”

About CEIC

CEIC (China Economic Information Centre) is a leading provider of economic and financial data from emerging markets around the world. Its database contains over 1 million time-series records, covering a wide range of industries and topics.

Contact

For more information or to request an interview with Maria Rodriguez, please contact:

  • [Name]
  • Andean Economics
  • Phone: +593-2-256-1234
  • Email: name@email.com