Panama banks looking to be more competitive

This month the project to improve competitiveness at the Panama Banking Center will be put in place.

Monday, January 19, 2009 reports: "According to the Superintendence of Banks in Panama (SBP) the projects has four components: the first is a integral diagnostic of the strengths, weaknesses, opportunities and threats (SWOT), the second phase will be a comparative study (Benchmarking) of other similar banking centers, the third component includes an study of the international market and in the fourth stage a strategic action plan will be established in conjunction with the corresponding authorities.

More on this topic

Diagnostic of Panamanian Banking Opportunities

February 2010

A study concluded that the country has strengths in international financial services, and that its main market is Latin America.

The study was conducted in 2009 by the Panamanian Banking Superintendence and the Economy Ministry, to provide useful information for policy making.

Panama: Canal Bank Completes Acquisition of Universal Bank

January 2016

The bank acquired 70% of the shares of Universal Bank and annulled the license which it had been granted to operate in the microfinance segment.

The Superintendency of Banks authorised CANAL BANK, SA (BMF) General Banking License, to change its name from CANAL BANK, SA (BMF) to CANAL BANK, SA and canceled and annulled the banking license for Microfinancing granted to CANAL BANK, SA (BMF).

Panama: Global Bank Goes Shopping

October 2013

There had been speculation that Global Bank would be sold but shareholders indicate that profits are excellent and instead of selling they are looking to buy other assets.

This was confirmed by the senior vice president of finance of the organization, Jorge Enrique Vallarino.

Mid Sized Panamanian Banks - August 2016

August 2016

Fitch notes a high level of competition in the segment of medium-sized banks, limiting the power of price and putting pressure on margins despite specialization in niche markets.

From the report "Panorama of Mid Sized Panama Banks":

Mid Sized Panamanian Banks: Concentrations and Limited Capacity for Absorption of Losses 

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