Article: Ecuador: ABN Amro acquires 5% in Banco del Pichincha.

Ecuador, Feb 16, 2001

ABN Amro has acquired a 5% state in the Ecuadorian bank Banco del Pichincha, paying US$5mil, as part of a strategy designed by JP Morgan and Morgan Stanley Barney, to replace direct investments by associations in selected markets such as Ecuador. ABN is to strengthen ties Pichincha a move that began with the passing on to Pichincha its local assets and liabilities. The next step will be the granting of a US$50mil credit to the customers of Pichincha engaged in foreign trade ...

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