SEPS Data Show 38 Credit Cooperatives in Forced Liquidation as Delinquency Exceeds 8%
Ecuador had 38 credit cooperatives in forced liquidation as of May 5, 2026, according to information from the Superintendencia de Economia Popular y Solidaria.
The concentration is heavily weighted toward the central Sierra and major cities.
Liquidation Distribution
| Location | Share of forced liquidation processes |
|---|---|
| Ambato | 36.8% |
| Quito | 26.3% |
| Cuenca | 21.1% |
| Guayaquil + Portoviejo | 15.8% |
Ambato, Quito and Cuenca together account for more than eight out of every ten liquidation processes.
Credit Quality Pressure
Sector delinquency exceeds 8%, compared with approximately 3% in private banking.
The capital-pressure metric has also deteriorated by segment:
| Segment | Nonperforming portfolio / equity, 2020 | Latest cited level |
|---|---|---|
| Segment 1 | 18% | 45% in Q1 2026 |
| Segment 2 | 18% | 38% over five years |
| Segment 3 | 30% | 40% over five years |
Segment 1 includes cooperatives with more than USD 80 million in assets.
New 2026 Cases
Two cooperatives entered forced liquidation in 2026:
- Cooperativa Incoop in February
- Cooperativa Cariamanga in March
SEPS cited solvency and liquidity indicators below legal minimums, high delinquency levels and administrative deficiencies that put member and depositor funds at risk.
What To Watch
- Whether additional segment 2 and segment 3 institutions enter forced liquidation
- Whether delinquency falls below the 8% level
- Whether SEPS increases intervention or disclosure around weak entities
- Whether deposit-rate competition rises as cooperatives seek liquidity
- Whether the cooperative cleanup affects credit availability for small producers, merchants and microenterprises
Source
Expreso — “Una treintena de cooperativas está en proceso de liquidación en Ecuador: Conozca el listado”
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