Multibank has become the third bank to join the Panamanian Facilitation of Foreign Trade Financing Program (TFFP).
Through TFFP, the IDB offers guarantees to cover letters of credit, promissory notes, bid bonds, performance bonds, advance payment bonds and other instruments used in International Trade transactions.
In spite of inflation and the world financial crises, Panamanians continue acquiring credit cards and the banks have not increased their restrictions.
As of September of this year the banking system credit card balance reached 629.8 million dollars, up 5.6 million dollars as compared to August's numbers of 324.2 million dollars, according to the Bank Superintendent's Office.
The huge demand for services has forced banks to extend their business hours and are now working overtime at many of their branches.
Big banks such as Cuscatlán, General, Credicorp, Global Bank, HSBC-Banistmo, Bac International, Banvivienda and even the National
Bank of Panama, have extended their opening hours from 5pm to 6 pm, some are even opened until 7 pm.
Total assets of the corporation are at around $1.71 billion, an increase of 40%.
Selling out is not on the agenda of the directors of Global Bank Corp., which occupies the number two spot for companies with Panamanian capital, especially now that it has ended the fiscal year with good results.
Panama's National Securities Commission says there are 13 bond issues pending that will raise a total of 602 million dollars.
Among the upcoming issues are a 250-million-dollar issue of perpetual bonds for from Banco General; another from Global Bank Corp for 60 million dollars; and three from the International Bank of Costa Rica, the Multistrategy Fixed Income Fund and the Sociedad de Inversión Inmobiliaria Balboa, each for 50 million dollars.
Technisys is the omnichannel digital banking company. It offers technology solutions that allow banks to stand out through their customer experience, increase their sales and dramatically reduce their time-to-market when it comes to launching new financial services. Technisys culture lies on its innovation, its human capital talent and its vision of the future. The digital age represents an unprecedented growth opportunity for the financial service providers, and Technisys helps its customers to differentiate and capitalize it.
Operates in Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama
Phone: (506) 2256 7168