Mayra Zaruma, students majoring in accounting in our branch campus in Cuenca, presented her research at the 16th International Entrepreneur Forum, which was organized by Universidad Andina Simon Bolivar's SMEs observatory.

The research: "Bancos y cooperativas de ahorro y crédito: un análisis comparativo de los indicadores financieros el caso de Ecuador" was supported by professors Jorge Garcia and Diego Alvarez. The research analyzed the financial statements of the most important Ecuadorian Banks and Credit Unions during the 2015- 2018 period.

The population was analyzed through a descriptive and retrospective study, using financial indicators such as: Liquidity, Profitability, Solvency and Operating Efficiency.

The most relevant results of the study show that both Banks and Credit Unions have indices below unity. However, both groups of entities are capable of covering the main obligations of 25 and 100 largest depositors. Regarding the ROA, both groups present inappropriate indices, while the ROE indicates that the level of profit is favorable for both Banks and the Credit Unions.

The study shows that credit unions are more creditworthy than banks and according to the operating efficiency index it shows that their total assets can cover operating expenses without major problem.