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.
By the end of 2016, the bank loan portfolio for housing and commercial construction exceeded $14.7 billion, and more than 19,000 houses and 545 buildings were built in Panama in the last six years.
A combination of low interest rates coupled with a growing and stable real estate supply account for much of the growth in real estate and construction activities in Panama.
Banco Nacional de Panama is putting out to tender health, life and personal accident insurance for employees of the institution for a period of 48 months.
Panama Government Purchase 2016-1-01-0-08-LP-011670:
"Conditions for the policies to be contracted out:
-Life:Life insurance, accidental death and dismemberment and total and permanent disability due to accident or illness, for an average of 3,574 employees of BANCO NACIONAL DE PANAMA.
Despite the decline in the sector, the balance of agricultural loans is growing and April 2015 amounted to $1,448 million, with BNP, Global Bank and Multibank granting the most loans.
Figures for April 2015 show that the National Bank of Panama (BNP) has a balance of agricultural loans of $445 million, Global Bank with $300 million, Multibank with $162 million and Banistmo $110 .
$100 million has been approved for the Electricity Transmission Company to finance construction of new power transmission lines of 115 kv and 230 kv, expansion of existing lines and new physical structures.
From a statement issued by the National Economic Council (CENA):
The National Economic Council (CENA) has given approval to the Electricity Transmission Company (ETESA) for a total of 100 million dollars to finance 18 projects that are part of the investment plan which focuses on improving the electricity transmission network in the country, informed the Minister Economy and Finance, Dulcidio De La Guardia.
Both Citibank and Banco Nacional de Panamá have closed accounts belonging to the Democratic Change Party, founded by former President Ricardo Martinelli.
In what appears to be a reaction to the scandals caused by the allegations of corruption on the part of members of the previous administration, Citibank and Banco Nacional have stopped attending to the accounts where the Democratic Party's administrators deposited money coming mainly from electoral subsidy.
An announcement has been made that as of May 4 customs settlements will be paid through Internet banking.
In order to start implementing this system, transactions will be made through the National Bank of Panama, and later the Caja de Ahorros will be incorporated and finally the private banks will be included.
Prensa.com reported that "... On Tuesday April 28 a meeting is planned between the Customs Authority and the National Bank of Panama to finalize the technical details of this measure. "
The Superintendency of Banks in Panama has reported that consumer loans amounted to $5.16 billion with four banks hogging 54% of the total.
The four banks holding 54.6% of the personal loans are la Caja de Ahorros, Banco Nacional, Banistmo and Banco General.
Estrategiaynegocios.net reports that "... In first place is Banco General, with 16.7%, managing $860.6 million; second is Banco Nacional, with 15.2%, managing $781.8 million; Banistmo, with a 13.3% market share, has an equivalent of $679.1 million and Caja de Ahorros, with 9.5% has a balance of personal loans of $492.5 million. "
Access to credit at 0% interest for the agro sector, announced in the plan for support to the sector, only applies to certain agricultural crops and dairy farming.
The program for granting interest-free loans for agriculture, which runs until December 2016, has several conditions and limitations as it does not apply for any type of investment or activity in the sector.
In the first three months of the year $1.350 million worth of securities were traded, up from $1.057 million traded in the same period in 2013.
Increased purchases of securities in the first quarter of 2014 "were made by BG Valores ($230.09 million), Prival Securities ($228.88 million), Banco Nacional de Panama ($195.62 million), MMG Bank Corporation ($142 55 million) and Citivalores ($126.06 million) ...
At the end of 2013 the balance of these loans in the banking system exceeded $10 billion, representing growth of 30% in the last three years.
The increase in the real income of households, the Preferred Interest Act and the increased demand for housing in the medium / high cost category, have strengthened the portfolio of mortgage loans in the country, with the balance of this portfolio up to March this year standing at $10.296 billion, $9.041 billion for homeownership loans and $1.254 billion for commercial premises.
The 6% rate paid on the ten year term issuance is higher than that offered in issuances that were made to finance the purchase of the North and South corridors.
The National Highway Company has turned to the stock market in order to fund the expansion of the northern corridor road, having succeeded in raising funds for the northern and southern sections.
The National Cattlemen's Association is negotiating sending a shipment every three months of 1,500 high genetic quality cattle to the South American country.
In January, the National Cattlemen's Association (Anagan) sent a proposal to the directors of Agrobanco of Peru to negotiate the sale of cattle to farms in Panama. Anagan's deal involves sending 1,500 cattle of high genetic quality every three months to the South American nation.