Where to find COSEDE Coverage Amount and Risk Ratings

workingwithcoffee · 2023-10-15T21:19:17+02:00

Find crucial info on COSEDE coverage and risk ratings for banks in Ecuador, including maximum amounts and institutional ratings updates.

workingwithcoffee Active member

Member since 30 July 2023

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.聽

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

Another factor is risk rating, which is done about every 6 months or so.聽 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:

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

23 de Julio:聽聽 COOPERATIVA DE AHORRO Y CR脡DITO 23 DE JULIO

JEP:聽聽聽聽聽聽聽聽聽聽 COOPERATIVA DE AHORRO Y CR脡DITO JUVENTUD ECUATORIANA PROGRESISTA

CREA:聽聽聽聽聽聽聽聽 COOPERATIVA DE AHORRO Y CR脡DITO CREA

Cooperco:聽聽聽聽 COOPERATIVA DE AHORRO Y CR脡DITO ERCO

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

rkg695 Contributor

Member since 15 May 2022

rkg695Contributor15 October 2023 20:32:25

159

@workingwithcoffee 馃檶馃徑 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) Jard铆n Azuayo = $996 million.

-Cooperatives; Assets

1) JEP = $2,901 million

2) Jard铆n 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