Análisis de la rentabilidad de los bancos privados de Ecuador: comparación de indicadores EVA y EBITDA periodo 2023-2024

Abstract

This project analyzes the profitability of a sample of 20 private banks in Ecuador, using the EVA and EBITDA indicators for the periods 2023 and 2024. Today, banks are the main players in the economy, since they maintain a normal flow of money, helping to finance other sectors, thus improving the country. To achieve this, lesser-known but useful indicators will be used to demonstrate the financial margins of the aforementioned companies. Using EVA and EBITDA, it will be possible to compare subsequent years with current ones and thus determine results. Regardless of whether they are favorable or unfavorable, the results must be objective and timely. Information from official websites and other reliable sources was used, thus obtaining actual financial statements for the 2023 and 2024 periods. Once the calculations were applied, the EBITDA result, which helps us reflect an institution's operational capacity to generate income without taking into account taxes, interest, and amortization, showed that some banks achieved profits without taking into account taxes or other deductions with percentages ranging from 40% to 280%, but there were also sharp declines compared to other financial institutions. On the other hand, the EVA indicator helps evaluate whether these results exceeded the cost of invested capital; in short, whether there is value creation. Finally, it is evident that many financial institutions, despite showing operational improvements with respect to EBITDA, failed to reflect the same in the creation of economic value, sometimes generating negative EVA. Consequently, having good operational performance does not always equate to having good financial sustainability. It will also be verified that some banks, despite their longevity, currently maintain high operating margins, but are not necessarily profitable in terms of economic value.