Mortgage and personal loans accounted for most of the increase in domestic credit to the private sector between February 2017 and the same month in 2018.
Friday, June 1, 2018
According to figures from the Superintendency of Banks, in the second month of the year, the credit portfolio of the private sector totaled $51.487 billion, exceeding by 6.7% the $48.257 billion reported in February 2017.
The report details that "... Domestic credit to the private sector increased by 6.7%, compared to the same period of the previous year.The sectors that drive this greater growth are associated with products for personal banking, especially mortgages (7.8%) and personal loans (10.7%)."
The document adds that "... the increase in interim construction financing shows that to date, disbursements continue to be generated in commercial construction and development projects for the residential construction market."
Mortgage and personal loans continue to determine a significant part of the 5% increase in domestic credit to the private sector, recorded between July 2017 and the same month in 2018.
More recent data from the Superintendence of Banks, up to the seventh month of the year the credit portfolio of the private sector reached $52,607 million, which is equivalent to an increase of 5.4% with respect to the $49,921 million reported up to July 2017.
Mortgage and personal loans continue to be responsible for much of the 5% increase in domestic credit to the private sector, recorded between June 2017 and the same month in 2018.
According to the latest report by the Superintendency of Banks, in the sixth month of the year the credit portfolio of the private sector totaled $52.311 billion, which is equivalent to an increase of 5.4% compared to the $49.609 billion reported as of June 2017.
Mortgages and personal loans were largely responsible for the increase in domestic credit to the private sector, registered between March 2017 and the same month of 2018.
The most recent figures from the Superintendency of Banks reported that in the third month of the year the private sector's credit portfolio totaled $51.668 billion, which is equivalent to an increase of 6.2% compared to the $48.665 billion reported up to March 2017.
Between January and November 2013, Panamanian banks gave out 14% more loans than in the same period of 2012.
Statistics from the Superintendency of Banks of Panama (SBP), reveal that during the first 11 months of 2013, the National Banking System (SBN by its initials in Spanish) gave out 14% more loans than in the same period of 2012, with its balance being $24.8154 billion.