Where to find COSEDE Coverage Amount and Risk Ratings

Last activity 15 October 2023 by rkg695

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workingwithcoffeeActive member15 October 2023 19:19:17

For those not aware, banks/coops offer a maximum guaranteed insurable amount of $32,000.

Depending on financial institution, they may not even offer that much.

To find out what segment your Bank/Cooperativa is, you can use this link:

https://www.cosede.gob.ec/conoce-tu-monto-de-cobertura/

Another factor is risk rating, which is done about every 6 months or so. This report is published, along with a key to explain what the ratings mean.

The most recent report is June 2023, and that is available here:

https://estadisticas.seps.gob.ec/wp-con … _jun23.pdf

The formal names of institutions are used, these are some common ones:

23 de Julio: COOPERATIVA DE AHORRO Y CRÉDITO 23 DE JULIO

JEP: COOPERATIVA DE AHORRO Y CRÉDITO JUVENTUD ECUATORIANA PROGRESISTA

CREA: COOPERATIVA DE AHORRO Y CRÉDITO CREA

Cooperco: COOPERATIVA DE AHORRO Y CRÉDITO ERCO

If you need help with translation, opening these sites with MS Edge (should) give you access to page translation.

rkg695Contributor15 October 2023 20:32:25

158

@workingwithcoffee 🙌🏽 Great info!

The stability, security, trust rating of any cooperative AND bank in Ecuador is primarily based on its financial holdings (assets) and deposits. The top banks and cooperatives in Ecuador are;

-Cooperatives; Deposits:

1) JEP = $2,569 million.

2) National Police = $1,044 million

3) Jardín Azuayo = $996 million.

-Cooperatives; Assets

1) JEP = $2,901 million

2) Jardín Azuayo = $1,275 million

3) National Police = $1,268 million

-Banks; (by ADV rating; Top 4 with combined total $25B in assets/deposits):

1) Banco Pichincha

2) Banco del Pacifico

3) ProduBanco

4) Banco de Guayaquil

So, the average total assets of the top bank in Ecuador is about $6B, on par with the top cooperative at about $5.5B

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