Minimum Capital for Banks Raised

Nicaragua's private banking sector reacted positively to the Superintendency of Banks’ decision to raise the minimum capital required by banks to more than $10.65 million.

Wednesday, February 1, 2012

Juan Carlos Arguello, president of the Association of Private Banks of Nicaragua (Asobanp), told the online edition of La Prensa, that actually private banks have a current coverage of 16% minimum share capital, 4% more than the required level of 12%.

"This is a healthy development for the financial system," said the representative of Asobanp in an article in La Prensa.

The total loan portfolio of the National Financial System (SFN) added up to 1,130.4 million córdobas ($ 49 million) in 2011.

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