In Panama, bank credit for power generation projects grew 39% by November 2018, and the increase was mainly due to loans for clean energy projects.
According to the latest report of the Superintendence of Banks, in November last year the portfolio of loans granted to the country's industrial sector totaled $3.309 million, equivalent to a 30% increase over the $2.537 million reported in November 2017.
In April this year the mortgage loan portfolio of the banking system amounted to $12 billion, 15% more than in the same month in 2014.
The growing demand for homes in Panama is the main factor behind the steady growth in mortgage lending, which is expected to continue rising due to the deficit that still exists in the availability of housing.
The growth in the portfolio between April 2014 and March of this year was $1.545 billion.
Analysis has been conducted on the composition of the loan portfolio to buy vehicles, one of the fastest growing sectors in recent years.
In the past five years, auto financing in Panama has been increasing, in February Panamanian banks provided loans of this type worth $813 million.
58.6% of these loans were granted for cars worth up to $15,000. According to a survey on the car market conducted by the Directorate of Financial Studies of the Superintendency of Banks, appropriations for the automotive sector in Panama have increased in proportion to the growth of the economy. However, experts believe that although in 2013 sales will grow, they will do so at a rate lower than in previous years.
Citibank, with $242 million; BAC International Bank, with $176.5 million; HSBC Bank, with $134 million and Banco General, with $133 million, are the banks that have the highest loan amounts.
The annual amounts of loans taken out using credit cards in Panama last November amounted to $867.9 million, far surpassing the $61.1 million figure for the same period in 2010.
With this purchase, GE Money would have 75% of the shares of BAC International Bank.
Beginning in July, the financial group GE Money has the option to purchase additional shares.
Édgar Delgado wrote for the El Financiero website: GE Money bought 49.99% of BAC shares in May 2005. The original contract established the option that the parties could modify their shareholding participation beginning in the third quarter of 2009 and during a period of three years thereafter."
The American financial giant GE Money is negotiating to buy more shares in the Bank of Central America (BAC Credomatic) over the medium term.
In 2006 the two firms signed an agrement under which GE Money would acquire 49.99 percent of BAC's capital.
Edmundo Vallejo, president of GE Money Latin America, said there is a possibility of buying more BAC shares, and to consolidate their operations.