Panama's financial sector weakens in Q1

Panama's financial sector, which has sustained strong growth for the past five years, has started showing signs of slowing down.

Wednesday, June 18, 2008


©image:

The latest report from the Comptroller General of the Republic on Gross Domestic Product in the first quarter shows a decline in the number of new mortgage loans. Previously these had been one of the most dynamic sectors of growth.
In January, new mortgage loans were growing at an annual clip of 11.7 percent, but in February they slowed to 7.3 percent, falling another 16.5 percent in March and 11.2 percent in April.

More on this topic

Local Banking Figures

October 2014

In the first half of the year profits in the banking system amounted to $900 million, a variation of -6.2% compared to the profits generated in the same period in 2013.

The Superintendency of Banks of Panama reported that this reduction is due to the loss of up to 14% in other income.

Fitch Ratings Special: Central American Banks

February 2009

From abundance to scarcity: Challenges faced by Central American banks in an environment of tight liquidity.

After having been hit hard by the US mortgage crisis in 2008, large US and international banks have considerably weakened, in some cases escaping from bankruptcy only thanks to strong government intervention.

Credit and the responsibility of the banks

January 2009

It is indispensable for the economy to continue using credit to finance production and commercial operations.

The analysis by Raul Moreira published in the La Estrella in Panama emphasizes that "the demand for internal credit by the private sector was at $31.6 billion in October and continued to grow at 20.38%, while deposits had an increase of 24.69%, which shows that the main source of financing for the expansion of credit comes from domestic savings by individuals. Prudence and caution is recommended for credit policies and it is important to maintain the rhythm of capturing funding."

Panamanian Banking Semi-annual Analysis

October 2009

A report by risk rating company Equilibrium (Moody's), analyzes the sector's main indicators for the first half of 2009.

Assets and Loan Portfolio
By the end of the first half of 2009, the Banking system reported $63.725 million in assets. The loan portfolio makes up 63.2% of the total ($40.291 million).

 close (x)

Receive more news about Banking

Suscribe FOR FREE to CentralAmericaDATA EXPRESS.
The most important news of Central America, every day.

Type in your e-mail address:

* Al suscribirse, estará aceptando los terminos y condiciones


Luxury beachfront house for sale in Costa Rica

9 Bedroom residence in beachfront community, Hermosa Palms, only 14 minutes away from Jaco beach, Central Pacific.
9 BDRM $1.59 Million in Costa Rica Central Pacific's...

Stock Indexes

(Mar 24)
Dow Jones
-0.29%
S&P 500
-0.08%
Nasdaq
0.19%

Commodities

(Mar 27)
Brent Crude Oil
50.65
Coffee "C"
140.00
Gold
1,258
Silver
17.900