The Banco del Instituto Ecuatoriano de Seguridad Social (Biess) announced on March 11 that it injected USD 857.4 million into the Ecuadorian economy through its credit products during January and February of 2026. This figure represents an 11% increase compared to the USD 774.1 million recorded in the same period of the previous year.
The bank reported that a total of 485,207 credit operations were carried out across its main products: mortgage loans, unsecured personal loans, and pawn loans. The largest share came from unsecured personal loans, with 460,783 operations totaling USD 759.2 million—a growth of 12% over last year. These loans are supported by pension funds from affiliates and retirees and have become a flexible option for covering unexpected expenses.
Mortgage lending also saw significant activity as part of what Biess called “the year of housing.” Mortgage loans reached USD 72.9 million through 1,165 operations across various subproducts. The Plan Credicasa, which offers a historically low interest rate of 2.99%, has emerged as the leading product in this segment. Within just one and a half months since its launch, more than 500 applications have been received—double the total number processed under the previous “Vivienda Premier” model throughout all of last year.
Pawn loans secured by gold jewelry also showed growth, reaching USD 25.2 million through 23,259 transactions—a rise of 16% compared to the first two months of 2025.
Looking ahead, Biess has set a target to place USD 5.8 billion in credit for all of 2026. The institution said it aims to drive national economic activity by providing accessible financing that supports household consumption among affiliates and retirees while stimulating job-generating sectors such as construction.
