Panama: Multibank surpasses $5.5 million to reserves
The Equilibrium rating agency reported that as of June 30 2008, the bank had $5.5 million "risk with Lehman Brothers".
Friday, October 24, 2008
Multibank is the second bank to publicly reveal that it has investments affected by international financial crisis.
"The global financial crisis has cause the main investment bank in the US to go bankrupt and will produce an strong impact on the Honduras' weak economy.
In spite of inflation and the world financial crises, Panamanians continue acquiring credit cards and the banks have not increased their restrictions.
The financial crisis will affect all Latin American countries, despite the fact that they are better position than in the past to withstand it, said Juan Jose Daboub, general director of the World Bank.
The Panamanian bank is continuing its expansion plans in Central and South America.
- Daily Update
- Government Purchases
- Classified Ads
- Indexes & Statistics
- Press Releases
- Events Calendar