Panama's banking system could see billion-dollar profits

There may be a banking crisis in other parts of the world, but not in Panama. Net profits there for the National Banking System could easily surpass the billion-dollar marke this year, according to the risk rating agency Equilibrium.

Monday, July 14, 2008

The agency forecast is based on good results the banking system has enjoyed during the first quarter of 2008: asset growth of 16.8 percent to 28.213 billion dollars and profits of 300 million dollars, up from 172.8 million during the first quarter of 2007.

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Salvadoran Banking Profits Down 13%

March 2009

In 2008, banking generated $128.3 million in earnings, $19.7 million less than the $148 million generated in 2007.

The statistics reported by the Salvadoran Banking Association indicated that the Industrial Bank was the one that had the most earnings last year, but it suffered a drop of $10 million in profits.

Panama's banks celebrate strong first quarter

May 2008

Panama's banking system is growing rapidly with major increases recorded in credits, deposits and assets.

The system closed the first quarter with total net profits of US$300 million, a 29.1 percent year-on-year increase, a private sector credit portfolio that was 18 percent up at US$20 billion and a 17.8 percent rise in domestic savings.

Panama: Bank profits surpass $1 billion

January 2009

Up to November 2008 there was an increase of 19% compared to the same period in 2007, according to information from the Banking Superintendence.

Prensa.com reports on its website that "Under this item, the most important for any business, an upward trend has been observed since 2000, with two exceptions.

Panama: Banking Profits Down by 33.2%

May 2009

In the first quarter of 2009, banks registered $201.1 million in profits, $99.8 million less than during the same period in 2008.

In February of this year, the profits of Panamanian banks were $26 million. However, while earnings rose to $86.2 million in March, they were 36.6% less than those obtained during the same month in 2008.

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