Panama's Metrobank counts cost of new technology

Panama's Metrobank is happy with its results despite an annual net profit of only $405,000, up from US$375,000 the previous year.

Monday, May 26, 2008

Rolando J. De León, Metrobank's operations manager said that the arrival of new shareholders and a new management had meant a restructuring that was costly in terms of technology and human resources.

More on this topic

Nicaragua: Gold, Energy, Wood, BPO

April 2012

The mining company Hemco is diversifying its activities and investing $138 million in hydropower, forestry and call centers in Bonanza on the Nicaraguan Atlantic.

Hemco Nicaragua SA is a good example of how private initiatives can contribute to the social and economic development of a country with its increase in investment following a strategy of diversification.

Profits Up 102% At Metrobank Panama

April 2010

In 2009 the bank made a net profit of $4.6 million, 102% more than 2008.

“This is a result of the bank consolidating its corporate and commercial businesses and a more efficient use of liquid assets, especially when investing in Panamanian Sovereign Bonds, commented Rolando de León, Tresury vice president”.

Metrobank: The Panamanian Bank with the Most Profits in 2008

March 2009

Among the banks with national capital, Metrobank had the highest net income growth (462%) during 2008.

For 2008, the bank reported $2.2 million in net income, an increase of 462% compared with 2007 which closed with $405,158.

According to Prensa.com, Rolando de León, vice president of the bank's treasury, said that "this exponential result is a direct consequence of the increase reflected by the balance in the loan portfolio which concentrates on the corporate and business segment and is our main business niche."

Grupo Gesfor opens its first office in Panama

April 2008

Grupo Gescor, a Spanish multinational specializing in consulting and information technologies has opened its first office in Panama. It wants to increase its client base in the country and to work more closely with its established clients there.

A company statement says the new office will be coordinated by José Luis Chong.

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