The Banco del Instituto Ecuatoriano de Seguridad Social (Biess) announced on March 11 that it issued USD 857.4 million in loans through 485,207 operations between January and February of 2026. This figure represents an 11% increase compared to the USD 774.1 million recorded during the same period last year.
The rise in demand for Biess credit products among affiliates and retirees is reflected across its main loan categories: mortgage, unsecured, and pledge-backed loans. The largest share was seen in unsecured loans, with 460,783 operations totaling USD 759.2 million—a growth of 12% from the previous year. These loans are supported by the pension funds of affiliates and retirees and have become a flexible option for covering unexpected expenses.
Mortgage lending also saw significant activity under what Biess has called “the year of housing.” Mortgage loans reached USD 72.9 million across 1,165 operations involving various subproducts. The Plan Credicasa, which offers a historically low interest rate of 2.99%, has emerged as the leading product in this segment. In just one and a half months since its launch, more than 500 applications have been received—double the total number processed throughout all of last year under the previous “Vivienda Premier” program.
Pledge-backed loans secured by gold jewelry also showed growth, reaching USD 25.2 million through 23,259 transactions—a rise of 16% compared to the first two months of last year.
Looking ahead, Biess has set a target to issue USD 5.8 billion in loans for all of 2026. The institution said that accessible financing not only supports household consumption among affiliates and retirees but also stimulates employment-generating sectors such as construction.
