Banco Bolivariano, one of Ecuador’s 10 largest banks, is known for its strong performance, customer-centric mission and dedication to innovation. Launched in 1980 and headquartered in Guayaquil, it has significantly contributed to the country’s financial development by expertly serving individuals, small and medium-sized businesses and corporations, building a reputation for financial strength, prudent risk management and ethical governance.
The bank’s business model is centred on offering comprehensive banking solutions, and it has consistently prioritised technology investments to enhance efficiency, security and overall performance. These initiatives reflect the bank’s commitment to adapting to changing customer expectations.
Banco Bolivariano emphasises personalised service and financial inclusion. Its network of branches and non-banking correspondent service points is supported by teams of experienced professionals who focus on understanding client needs and delivering tailored solutions. The bank also promotes sustainable practices, financial education and social initiatives aimed at fostering positive impacts within the communities it serves.
According to its 2024 Sustainability Report, Banco Bolivariano’s vision is to maintain the bank “as one of the most important financial institutions in Ecuador, preserving an optimal financial position and excellence in service from our staff, with rapid response times and creating new products tailored to the needs of each customer segment”.
International Banker was pleased to discuss the bank’s latest progress in achieving this vision with Executive Vice President Rocío Salazar Arrarte and Sustainability Manager Carlos José Santos.
Thank you both for speaking with me today….
Ms. Rocío Salazar Arrarte, Executive Vice President, Banco Bolivariano
I’d like to start by asking you a few questions, if I may, Ms. Salazar. According to Banco Bolivariano’s published financial statements as of December 2025, the bank achieved solid year-on-year growth of 14.8 percent in total assets. To what do you attribute this growth? And what are the bank’s financial priorities for 2026?
The 14.8-percent growth in total assets reflects Banco Bolivariano’s ability to sustain solid performance in a demanding environment. This result was driven principally by the strong expansion of public deposits, which increased by 15.8 percent, significantly strengthening our funding base. This enabled a 20.5-percent increase in our commercial-loan portfolio, reinforcing our role as a strategic ally to the country’s productive sector. These achievements demonstrate our close alignment with the real needs of our corporate clients and reaffirm our commitment to supporting Ecuador’s sustainable economic development.
Our progress was further supported by the consolidation of our digital-transformation agenda, which deepened client relationships, enhanced operational efficiency and strengthened our business lines’ performance. These advances reflect the firmness of a strategy built on financial prudence, continuous innovation and a deep institutional commitment to service excellence.
Looking ahead to 2026, our priorities include continuing to expand our deposit and loan portfolios, safeguarding profitability through disciplined margin management and reinforcing our presence in strategic segments. We will advance initiatives that strengthen our value proposition, prioritise sustainable growth and consolidate our position as a solid, competitive and trusted financial institution for individuals and businesses alike.
To advance its financial-inclusion objectives, Banco Bolivariano has strengthened its non-banking correspondent network. What do these service points offer the previously underbanked or unbanked?
Non-banking correspondents play a fundamental role in extending access to financial services in areas where traditional branches are not present. Through a network of more than 5,946 service points strategically located across the country, Banco Bolivariano offers over 100 transactional services, including deposits, withdrawals, credit-card payments, cash advances, remittances and utility collections. This network enables individuals in previously underserved or remote communities to conduct their daily financial transactions without travelling to a branch, thereby reducing access barriers and supporting the dynamism of local economies.
From an institutional perspective, this model reflects our commitment to strengthening financial inclusion practically and sustainably. While our current coverage has allowed us to reach a significant portion of the population, we recognise that there remain communities where a greater presence would be beneficial. Our strategy envisions continued expansion into areas that still lack banking services, as well as enhancing our service offering according to users’ evolving needs, reaffirming our dedication to promoting equitable access to financial services and supporting the development of communities throughout Ecuador.
Banco Bolivariano, Headquarters in Guayaquil, Ecuador
In 2025, Banco Bolivariano cemented its position as a leader in remittances. Of the industry-wide total of 70.4 percent of transfers paid into accounts, 36.4 percent were deposited into Banco Bolivariano accounts. What explains this high level of customer trust?
Banco Bolivariano’s strong position in the remittances segment reflects more than two decades of consistent service, operational reliability and proximity to migrant families. The bank pays over US$600 million in remittances annually, a 20-percent increase over the previous year, benefiting more than 1.2 million Ecuadorian families, a testament to the trust placed in our institution.
Our clients value the speed, security and immediacy of our service. Transfers credited to accounts are available in real-time, 24 hours a day, seven days a week, including weekends and holidays. This reliability, combined with broad national coverage and long-standing partnerships with leading international remittance companies, has consolidated our leadership.
We see remittances as a continued growth area for 2026 and remain committed to expanding alliances, strengthening processes and serving families with the professionalism and empathy they deserve.
Banco Bolivariano facilitates access to credit for small and medium-sized enterprises (SMEs), while integrating sustainability and ESG (environmental, social and governance) considerations into this objective—particularly through its PYME Mujer programme, which supports women-led SMEs. The programme has achieved significant growth, with outstanding balances increasing from $71 million in December 2024 to $101 million in November 2025. To what key factors do you attribute this growth?
Our PYME Mujer portfolio’s strong growth is fundamentally the result of the trust that Ecuador’s entrepreneurs place in Banco Bolivariano and of the institution’s longstanding commitment to accompany the SME sector with professionalism, prudence and genuine proximity. We have strengthened our value proposition for SMEs by modernising processes, expanding our digital channels and improving the agility with which clients can access financial solutions. These efforts have allowed us to serve a larger number of businesses with greater efficiency, clarity and responsiveness.
Our digital transformation has been particularly important in this evolution. By streamlining onboarding, offering self-service tools and enhancing credit-evaluation processes, we have made it easier for SMEs to interact with the bank and obtain financing aligned with their growth objectives. Women-led enterprises have responded positively to this combination of technological agility, institutional solidity and transparent service.
The portfolio’s expansion reflects our clients’ confidence, the bank’s reputation for responsible management and our continued dedication to supporting the development of Ecuador’s productive sector.
Mr. Carlos José Santos, Sustainability Manager, Banco Bolivariano
Thank you, Ms. Salazar. Turning to you now, Mr. Santos, Banco Bolivariano is widely recognised for its sustainable-finance instruments. What are the key features of the bank’s blue bond and biodiversity bond? How are the proceeds deployed to advance sustainability objectives?
Banco Bolivariano’s leadership in sustainable finance is grounded in our corporate purpose: to drive Ecuador’s sustainable progress with responsibility and passion. This purpose guides every thematic instrument we place in the market and ensures that each transaction contributes meaningfully to national development.
Our blue bond, the first ever issued in Ecuador, represents a milestone in mobilising capital toward the preservation and responsible use of marine and coastal resources. Structured with the support of IDB Invest and FinDev Canada, the US$80-million issuance channels financing toward projects in sustainable aquaculture and fishing, water and wastewater management, solid-waste reduction and circular-economy initiatives. These activities must demonstrate measurable environmental benefits and align with internationally recognised sustainability standards, particularly in sectors such as the sustainable seafood industry. As of year-end 2023, the blue portfolio was expanding more rapidly than initially envisioned, driven by clients with strong environmental certifications.
Banco Bolivariano is advancing Ecuador’s first biodiversity bond, a transaction of up to US$120 million. This issuance originates directly from our internal adoption of the Taskforce on Nature-related Financial Disclosures (TNFD) framework, which has enabled us to systematically assess our nature-related risks and opportunities. This analytical process highlighted the strategic importance of biodiversity to Ecuador, a country recognised globally as one of the most biodiverse on the planet, and underscored the financial sector’s responsibility to safeguard these natural assets. The biodiversity bond’s proceeds will finance conservation, ecosystem restoration, sustainable agriculture and other nature-positive activities, supported by IDB Invest’s technical assistance to strengthen impact measurement and monitoring systems.
Through these thematic instruments, Banco Bolivariano reaffirms its commitment to aligning financial innovation with the protection of Ecuador’s natural heritage and the creation of long-term sustainable value for the country.
You offer specialised credit products and training programmes to help clients transition to a low-carbon economy. What are the most important changes clients must make?
Beyond providing specialised credit products, Banco Bolivariano’s primary objective is to help clients create added value by integrating sustainability practices that strengthen their efficiency, competitiveness and long-term resilience. Through our training programmes on aquaculture, biodiversity and low-carbon transitions, we guide clients on practical improvements. These measures reduce environmental impact while enhancing market access and operational performance.
Our programmes also help senior decision-makers understand nature-related risks, identify impacts and anticipate emerging sustainability requirements in international markets. This strengthened capacity enables clients to align with global standards and access green-financing opportunities, including resources from our blue bond and the forthcoming biodiversity bond.
In our experience, the most important changes involve improving data collection, adopting resource-efficient technologies and embedding sustainability into internal governance structures.
Mr. Carlos José Santos and Ms. Rocío Salazar Arrarte
The bank assesses physical climate risks during property valuations. How is the risk-management process conducted? What are the biggest challenges when working with climate-change scenarios?
The assessment of physical environmental risks forms an integral part of our prudent, forward-looking risk-management framework. During property valuations, our teams apply a formal methodology that incorporates official national datasets and geospatial analysis to determine each asset’s exposure to natural hazards. This enables us to evaluate not only an operation’s financial fundamentals but also its long-term vulnerability and the potential implications for portfolio resilience.
Our approach is consistent with the governance principles established under international disclosure standards, which have strengthened our internal structures, broadened the use of scenario-based analysis and enhanced transparency in identifying environmental risks across the institution. This process allows us to communicate these risks clearly to clients, prepare them to face potential adversities and help them recognise operational improvements and business opportunities that may arise from strengthening their resilience.
One of the principal challenges in working within these scenarios is their evolving nature. Data availability, methodologies and supervisory expectations advance continuously, requiring us to refine assumptions, update analytical tools and invest in expanded technical capabilities. We consider this an essential component of responsible risk management and supporting our clients in building stronger, more adaptable businesses.
What certifications does Banco Bolivariano help clients achieve? What training do employees undergo to ensure they can competently assist clients?
We recognise that many of our clients aim to strengthen their projects’ quality and competitiveness by adopting internationally recognised sustainability certifications. The bank provides guidance on achieving EDGE (Excellence in Design for Greater Efficiencies) and LEED (Leadership in Energy and Environmental Design) standards—fundamental to advancing efficient building design and responsible resource use. These certifications enable our clients to incorporate best-practice criteria in areas such as energy performance, water optimisation and materials selection—improvements that generate tangible operational benefits and enhance the long-term value of their assets. We are developing new support lines to accompany clients in obtaining biodiversity-related certifications, reflecting our commitment to evolving alongside emerging global requirements.
The bank relies on a specialised team that includes professionals with expertise in green building, environmental management and biodiversity. We ensure that our commercial officers and other frontline teams undergo continuous training on certification requirements, environmental-risk considerations and sustainable-project criteria. This preparation allows them to guide clients with clarity, diligence and a deep sense of responsibility, reinforcing our institution’s commitment to fostering sustainable and resilient business development.
The learning ecosystem is a strategic training platform for corporate clients. How does this platform help them achieve sustainability objectives?
The learning ecosystem is a strategic instrument for strengthening our corporate clients’ capabilities, particularly in sustainability, offering structured training programmes that help organisations deepen their understanding of environmental and social considerations, as well as the governance practices required to operate responsibly in an increasingly demanding business environment.
The ecosystem provides access to specialised content, practical tools and expert-led sessions that enable clients to incorporate sustainability criteria into their operations tangibly and measurably. Topics range from efficient resource management and responsible production practices to identifying nature-related risks and opportunities. By strengthening this knowledge base, clients are better equipped to adopt international standards, improve internal processes and advance toward formal sustainability objectives, including certifications and enhanced disclosure practices.
The platform reinforces our role as a trusted partner in our clients’ development. It allows us to accompany them with rigour and clarity, ensuring they are prepared to compete in markets where sustainability is increasingly synonymous with resilience, quality and long-term growth.
How does the bank ensure that excellent staff service is maintained?
Our service excellence is sustained by a culture of professionalism, integrity and technical competence. This begins with rigorous selection and is reinforced through continuous training via our learning ecosystem, covering customer service, operational standards, regulatory requirements and responsible technology use.
Service quality is also supported by strong governance: clear processes, defined responsibilities and ongoing leadership oversight across all channels and segments. Finally, structured feedback helps us continuously improve in line with evolving client needs.
Maintaining excellence is not a single initiative but a disciplined practice, one grounded in training, governance and a deep commitment to the communities we serve.
Banco Bolivariano certainly maintains excellence. Thank you both again for your time today.