Banco Pichincha: Building inclusion by empowering women entrepreneurs

SME Banking
08/03/2023 Study
profile picture of Leandro Seligmann Leandro Seligmann Qorus Strategic Initiatives Coordinator

Banco Pichincha is Ecuador’s largest private sector bank by capitalization and number of depositors. Founded in 1906, the Bank has a 27% market share, with approximately 4.5 million clients, a portfolio of over $10.5 billion, and deposits of $7.6 billion. It has offices in all of Ecuador’s provinces, as well as Spain, Colombia, Peru, Panama, and the US. 

The Bank provides a range of products and services to meet the needs of the different client segments it serves, including retail, microfinance, SMEs, enterprise and corporations. All of its activities are built around a commitment to society, shareholders, the environment, and gender equity.

Banco Pichincha has been a noteworthy vessel of empowerment and growth for Ecuadorian VSMEs (very, small and medium enterprises) through its non-financial offerings. Aside from offering the necessary tools to manage their finances and expand their businesses, Banco Pichincha offers VSMEs business value through VSME-focused educational resources such as events, programs, and courses. 

The Bank’s ‘Mejor Pyme’ program, for instance, provides its SME clients with free access to practical training on SMEs’ best practices, as well as a space for the cross-selling of products, thereby improving market linkages and enhancing Ecuador’s business structure as well as its SME segment.

In addition to its support of VSMEs, Banco Pichincha has received international recognition for its commitment to women’s economic empowerment. The Bank was the first Ecuadorian lender to subscribe to the UN Women’s Empowerment Principle, which aims to get the private sector involved in efforts to achieve gender equality. 

Moreover, the institution boasts noteworthy initiatives focused on fostering the economic advancement of women. Banco Pichincha has been a member of the Financial Alliance for Women since 2014, and it's been recognized for its inclusive leadership and investment in women and women-led businesses globally. Part of the Bank's value proposition is to serve women microentrepreneurs and entrepreneurs by including the financial needs, preferences, and specific behaviors of women in its business models.

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