Banco Pichincha's Digital Unit Crosses 3 Million Users as Mobile Lending Triples

Banco Pichincha's Digital Unit Crosses 3 Million Users as Mobile Lending Triples

Banco Pichincha, Ecuador's largest private bank by assets ($16.2 billion), reported that its digital banking platform Pichincha Digital surpassed 3 million active monthly users in January 2026 -- a 47% increase from 2.04 million a year earlier. The milestone underscores the rapid digitisation of Ecuador's financial sector.

The bank disclosed the figures in its Q4 2025 earnings presentation, alongside data showing that 68% of all retail banking transactions now flow through digital channels (mobile app, web portal, and WhatsApp banking), up from 51% in 2023.

Mobile lending surge

The most striking growth has come from Pichincha Credit Express, the bank's AI-driven micro-lending product launched in mid-2024. The platform uses alternative data scoring -- including utility payment histories, mobile phone usage patterns, and social security contributions -- to underwrite loans of $200-$5,000 to customers who lack traditional credit histories.

• Total disbursements (2025): $420 million, up from $138 million in 2024
• Average loan size: $1,850
• Approval time: Under 4 minutes for pre-qualified customers
• Non-performing loan ratio: 2.8% (vs 3.4% for traditional consumer lending)
• Borrower demographics: 61% first-time formal credit users; 44% outside Quito and Guayaquil

"We are reaching segments of the population that the traditional branch model simply could not serve economically," said Antonio Acosta, Banco Pichincha's chief digital officer. "The NPL performance validates our alternative scoring models."

Competitive landscape

The push comes amid intensifying competition from digital challengers. Neobank Banco del Barrio (a Banco Guayaquil subsidiary) and fintech lenders Kushki and Pago46 have collectively captured an estimated 8% of digital payment flows in Ecuador. Produbanco (Grupo Promerica) is also investing heavily, with a $35 million technology upgrade announced in December.

Banco Pichincha has allocated $90 million in technology capex for 2026, including expansion of its cloud infrastructure partnership with AWS and deployment of generative AI tools for customer service and fraud detection.

The Superintendencia de Bancos reported that Ecuador's banking sector posted a return on equity of 13.8% in 2025, the highest in five years, with digital efficiency gains cited as a key contributor to improved cost-to-income ratios across the industry.