Panama: New Credit Cards Down 58%
In the first half of the year, 4.458 new credit cards were issued, 6.969 less than the same period of 2008.
Wednesday, September 30, 2009
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.
In late May there were 673,590 active credit cards, while in the same period in 2012 there were 609,357.
Experts estimate that financial companies will issue 20% less credit cards when the new regulations come into force.
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.
The Superintendent of Banks in Guatemala reports that credit card debt is growing in the nation despite disturbing economic signals and now stands at 2.367 billion quetzals, or about 315 million dollars.
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