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Trade Credit Grows By 37% in Panama

In July 2013 the balance on the loan portfolio to the commercial sector was $9,940 million, while in the same month of 2012 it was $7.236 million.

Monday, September 9, 2013

The figures were released by the Panamanian Credit Association. "As of June this year a total of 73,172 active commercial loans was reported, which means an increase of 30.5% compared to the same period in 2012 when there were only about 56,055," reported an article in Panamaamerica.com.pa.

According to Luz María Salamina, general manager of the Panamanian Credit Association, "this fact demonstrates the good health of the business sector and the favorable economic environment experienced by the economy of the Republic of Panama".

Source: Panamaamerica.com.pa

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commerce credit loans

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Asociación Panameña de Crédito Luz María Salamina

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Panama

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bank credit access to credit loan portfolio loan loans Banks Finance Capital Markets Debt Market

In Depth Review of Credit in Panama

August 2013

One third of Panamanians have on average three loans, and they make payments on them with an acceptable default rate.

About 1.2 million Panamanians have loans, of which 85% are employees.

According to Luz María Salamina, general manager of the Panamanian Credit Association (CPA), "...

Increased Number of Credit Cards in Panama

June 2013

In late May there were 673,590 active credit cards, while in the same period in 2012 there were 609,357.

The balance of active cards also showed an increase of 17% compared with May 2012, according to a Panamanian Credit Association (CPA). "The balance went from $1.1114 billion to $1.3008 billion in May 2013, which represents 3.8% of total credit balances reported in the database", reported Elsiglo.com.

Credit for Car Loans in Panama Up 9%

August 2012

As of July there were a total of 88,000 loans for car purchases, according to the Panamanian Credit Association.

A 9% increase in loans up to July 2012 has been reported, compared to the same period last year.

According to Luz Maria Salamis, CEO of Panamanian Credit Association (CPA), "'The increase in the numbers of active auto loans, demonstrates not only the boom in the Panamanian economy, but also consumer confidence in the financial system in Panama... "

Mortgage Loans Increase by 6.5%

December 2011

The Panamanian Credit Association reported that in October there were a total of 204,000 active mortgages, 6.46% higher than in the same month in 2010.

Meanwhile the balance of the total outstanding mortgage loans on the same date (October 2011), increased by 19.48%.

"This year, banks have begun to further consolidate their participation in relation to mortgage loans.