Up to December 2015 28% of the total banking portfolio was destined for consumption activities, 26% to the construction sector and 16% to service activities.
Financial Monitoring figures compiled by the Commercial Intelligence unit at CentralAmericaData com show that credit unions are the institutions who awarded the most loans of this type, with 29.8% of their total portfolio.
Eleven clusters are operating in Costa Rica, in sectors ranging from digital animation to flowers, food or agricultural products, seeking better operating and financial leverage.
Achieving greater access to credit, winning new customers and suppliers, discussing industry issues and possible solutions, more formalized operation or devising new strategies are part of the benefits of belonging to a cluster, a policy that is actively supported by the Costa Rica Foreign Trade Promotion Office (PROCOMER).
In September the banking loan portfolio to the private sector recorded an increase of 17% compared to the same month last year.
Despite the political turmoil that the country has seen so far this year, bank credit portfolios have maintained positive figures and growth rates above 10%. The total loan portfolio in the banking system registered an annual increase of 13.9% in September this year, highlighting not only the growth of credit to businesses, but also for consumers, a category which grew by 15.7%.
At the end of June the credit portfolio of the banking system recorded an increase of 21.5%, with loans to the commercial sector, personal and industry seeing the most demand.
Despite being the smallest national bank in the Central America, it is the one that has reported the highest growth in its loan portfolio during 2014, growing by 21.55% at the end of the first half of 2014.
The scare liquidity of colones explains the lower growth of loans in this currency, while credit growth in dollars continues to lose strength.
Added to the diminished liquidity in colones putting downward pressure on credit growth in that currency, is uncertainty at enterprise-level over recent changes in the exchange rate and lower credit demand for real estate projects, power generation and tourism, as explained by bankers to Nacion.com.
Between January and November 2013, Panamanian banks gave out 14% more loans than in the same period of 2012.
Statistics from the Superintendency of Banks of Panama (SBP), reveal that during the first 11 months of 2013, the National Banking System (SBN by its initials in Spanish) gave out 14% more loans than in the same period of 2012, with its balance being $24.8154 billion.
In order to facilitate access to inventory credit for SMEs plans are underway to reform the Law flexibilizing on chattel mortgages.
From a press release by the Ministry of Economic Affairs and Competitiveness:
"The Cabinet Council has approved a bill that promotes access to credit and modernizes the system of mortgage deposits and has authorized the Minister of Trade and Industry, by Resolution of Cabinet, to present the initiative before the National Assembly.
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.
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.
The World Trade Report 2013 focuses on trade as cause and effect of the change, and examines the factors shaping the future of global trade.
The world is changing extremely rapidly under the influence of many factors, among which are changing patterns in production and consumption, constant technological innovation, new forms of trade and obviously political policy.
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.
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