The Commercial and Agricultural Bank takes over Ingenio San Carlos and its management. With the bank crisis of 1937 in Ecuador, this bank closed down permanently.

Through a loan granted by the Commercial and Agricultural Bank, new machinery was bought and thus, industrial growth began.

With El Niño phenomenon, there was a decrease in production that affected the whole industry severely. One decade later the harvested area had grown to over 18.000 hectares and reaching a new production record, which was broken again in 1996 with 2’523.788 50 kilo (110 pound) bags.

A new production records was set.

Throughout 4 harvests, the national record was broken 3 times, setting the new record of 3’076.160 of 50 kilo (110 pound) bags along a huge harvested agricultural area (23,284.21 hectares)