Comparative study of the financial performance of cooperatives in Segment One, Manabí province

Abstract

Introduction: The social and solidarity economy has emerged as an alternative to the neoliberal economic model, prioritizing labor and solidarity over capital, with savings and credit cooperatives as essential actors for financial inclusion and local development. In Ecuador, these entities are grouped into segments according to the size of their assets, with Segment One comprising the largest cooperatives and those with the greatest systemic influence. This article aims to comparatively analyze the financial performance of savings and credit cooperatives belonging to Segment One in the province of Manabí, based on a study of their Equity Capital (ECC), Risk-Weighted Assets (RWA), and solvency ratio, during the period 2021–2024. Materials and methods: The research was conducted using a quantitative approach, with a descriptive and comparative scope, and a non-experimental, longitudinal design, utilizing official financial information from the bulletins of the Superintendency of the Social and Solidarity Economy. The population consisted of all cooperatives in Segment One headquartered in Manabí, specifically four entities; therefore, no sampling was applied. Results: The results show that all cooperatives meet the minimum regulatory solvency requirement of 9% throughout the analyzed period; however, significant differences in their financial performance were identified. The Chone Savings and Credit Cooperative Ltd. consistently presents the highest solvency levels, reaching 27.32% in 2021 and remaining at 24.59% in 2024, as well as the largest amount of Equity, which increased from USD 21,171,420 in 2021 to USD 27,459,510 in 2024, indicating a solid equity base. Discussion: The findings confirm that all cooperatives meet prudential requirements, but significant differences exist in their financial strength. The Chone Ltda Cooperative stands out for its higher capitalization and resilience, while other entities show a progressive reduction in their capital buffer, which could limit their capacity to absorb losses in higher-risk scenarios. This aligns with the literature indicating that the growth of risky assets must be accompanied by a proportional strengthening of regulatory capital. Conclusions: Although all the entities analyzed consistently meet the minimum regulatory solvency requirement of 9%, there are significant differences in their financial strength and capital capacity. The Chone Ltda Cooperative is consolidated as the entity with the greatest relative financial strength, while the 15 de Abril Ltda and Calceta Ltda cooperatives show a progressive reduction in their capital buffer, which could limit their capacity to absorb losses in higher-risk scenarios.