Panama: Bank profits grow 57.44%
Banks operating in the market earned $904 million dollars in the first 10 months of this year.
Friday, December 19, 2008
The internal demand for credit from the private sector, which was above $31.6 billion in October, continuing an upward trend of 20.38%, according to data from the Panama Superintendence of Banks.
Banks operating in the local market earned $694 million at the close of the first semester this year.
The net utility accumulated from the banking center up to August 2008 rose to $824 million, an increase of 24.5% in comparison to the same period last year.
With average Return on Assets (ROA) of 2.30% and 20.28% on Equity (ROE) in 2011, there has been growth of 63% compared to profits in 2010.
The growth in earnings of 17 banks operating in Costa Rica is higher than credit growth and is four times the country's economic growth.
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