Twenty-four private banks operating in Ecuador and state-run Banco del Pacifico posted a combined $93.83 million in net profit in the first five months of 2009, down 33% from $139.60 million a year earlier, the Banking Superintendency said Friday.

Banco del Pichincha CA (PCH.GU), Banco del Pacifico and Banco de Guayaquil topped the list, with $22.18 million, $17.06 million and $14.41 million in earnings respectively, according to the report.

The U.K.'s Lloyds TSB Group PLC (LYG), the U.S.-based Citigroup Inc. (C) and the Dutch German Procredit, the three foreign banks included in the list, were responsible for 4% of the reported income.

According to the official data, assets in the banking system totaled $16.11 billion, alongside $14.36 billion in liabilities.

Sight deposits totaled $8.96 billion, term deposits totaled $3.79 billion and investment totaled $1.93 billion.

Figures have been rounded.

Ecuador has been hit by falling oil prices this year, while political uncertainty tied to the programs of left-leaning President Rafael Correa have scared off investors.

Among other measures, for the financial sector the government has fixed interest rates and the government's banking superintendent hasn't allowed banks to charge clients for some services.

Additionally, a recent central bank resolution will force private-sector banks to repatriate $1.2 billion before Aug. 31.

According to a report from Credit Suisse Group Inc. (GS), apparently these assets might be partially used to increase lending to the private and public sectors, increasing the stock of risk-weighted assets banks hold.

"This may have a negative effect on deposits," the report said.

Private-sector banks currently hold around $4 billion in net external assets.

Correa, a self-proclaimed socialist, took office in 2007. After a new constitution was approved, he won a new four-year term this year and has promised to carry out more radical reforms.

-By Mercedes Alvaro, Dow Jones Newswires; 5939-9728-653; mercedes.alvaro@dowjones.com

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