In the first six months of 2010, the Panamanian Banking Regulator (SBP) granted permits to six new operators.
The Panamanian Banking Regulator is now studying a further seven requests for upcoming approval.
"Foreign and mixed groups such as Banco Prival, Banca Privada D’Andorra, Banco Lafise Panamá, Banco Internacional de Perú and Banco La Hipotecaria have seen potential in the country," writes Capitales.com.
The move will mean the closure of 10 branches and the loss of 50% of its staff.
Benjamín Vides, Chairman of the bank’s board of directors, indicated that the return of customers’ deposits forms part of this process since, according to Guatemalan legislation, a lending institution cannot hold deposits.
The Nicaraguan Treasury announced it will issue $5 million bonds in the local market on March 10th.
The entity had successfully completed a $4 million placement on the last week of February.
From Capitales.com: “the price of the bonds will be defined by a public auction. Interested stock brokerages and financial institutions can bid through the electronic auction system of the Central Bank of Nicaragua”.
Why pension systems need to evolve from individual capitalization to life-cycle portfolios.
"Individual capitalization systems arrived in Latin America 28 years ago, looking to replace generic systems. These systems are now considering what their next evolutionary step is. Some progress has been seen in Chile and Peru, were multiple pension plans are available for workers.
A precautionary agreement signed by the previous administration in January has been reactivated.
This was announced by President Mauricio Funes, who remarked that even though the agreement had a validity of 6 months, it had been rendered ineffective by lack of compliance with the established conditions.
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