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
Pa-digital.com.pa 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.
A study concluded that the country has strengths in international financial services, and that its main market is Latin America.
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.
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.
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.
- Daily Update
- Government Purchases
- Classified Ads
- Indexes & Statistics
- Press Releases
- Events Calendar