New Card Issuances Fall 67% in Panama

In the month of Abril 2009, 3,761 cards were granted, which is less that the 11,427 that were issued over the same period of last year.

Monday, June 8, 2009

According to what was reported by the Panamanian Association of Credit (APC), the new cards issued have a 63% smaller credit limit compared to the levels of April 2008.

Mary Triny Zea writes in Prensa.com: "Data from the APC show that in April of 2009 there were 532,277 card in the local market, 5.9% less than in April of 2008, when there were 565,429 cards."

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Increased Number of Credit Cards in Panama

June 2013

In late May there were 673,590 active credit cards, while in the same period in 2012 there were 609,357.

The balance of active cards also showed an increase of 17% compared with May 2012, according to a Panamanian Credit Association (CPA). "The balance went from $1.1114 billion to $1.3008 billion in May 2013, which represents 3.8% of total credit balances reported in the database", reported Elsiglo.com.

Nicaragua: Less Credit Cards Issued

August 2010

In the first six months of the year, figures show 32,738 less credit card holders.

The head of the Nicaraguan banking regulator, Víctor Urcuyo, indicated that between June 2009 and June 2010, the number of plastic card customers has dropped from 216,369 to 183,631.

Urcuyo added that, "this is due to the regulator's new plastic card standard, now 90 days old, which forces banks to be more responsible.

Panama: New Credit Cards Down 58%

September 2009

In the first half of the year, 4.458 new credit cards were issued, 6.969 less than the same period of 2008.

Total credit lines granted under this scheme summed $11.2 million, 52% less than in 2008, and 74% less than in 2007, according to data from the Panamanian Credit Association (ACP). Average credit for each new credit card was $2.520.

Credit Cards with Lower Growth in Costa Rica

March 2009

The balance of credit cards increased by 44% in 2008 but it is only expected to grow by half in 2009.

The different credit card companies are preparing for a year of lower growth relative to 2008.

According to the article in elfinancierocr.com, the economic crisis and unemployment have led issuers to take steps to avoid increases in delinquencies, which include: "Being more careful in issuing new cards, tightening the analysis of the customer's capacity to pay, offering to buy credit card balances, making payment arrangements, agreeing to raise the minimum earning level and lowering the amount of indebtedness."

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