54% Increase in Savings Accounts in Panama

In the last three years there has been a 54% increase in saving accounts.

Monday, November 1, 2010

At the end of September 30th, 2010, the Central Bank's bank accounts totaled 1,839,253 of which 1,808,523 in deposits belonged to individuals and 30,730 to corporate entities.

Balances were $ 3.593 million (individuals) and $ 1,856 million (companies), for a total of $ 5,449 million.

Comparing the figures from September 2007 to September 2010 it is estimated an increase in savings accounts of 54% and 69% in terms of balance.

More on this topic

Panama: Bank Deposits Up 47%

October 2014

Growth in income and increased foreign investment explain part of the increase from the $49,730 million worth in deposits in August 2010 to $73,302 million in the same month this year.

The Superintendency of Banks of Panama (SBP) reported that deposits which grew the most in the period in question are internal deposits in the International Banking Center (IBC) with a balance of $44.6 million, followed by individual deposits, with $34.1 million and finally government deposits with $6.4 million.

Guarantee Fund Could Pass to Central Bank

March 2013

Private banks in Costa Rica are opposed to the $30 million fund that protects small depositors being transferred to the Central Bank.

Nacion.com reports that "private banks are against transfer of the administration of the $30 million fund which protects small savers, in case of bankruptcy of a financial institution, to the Central Bank, as ordered by a Bill ruled on in the Economic Affairs Committee of Congress. "

Guatemalans Prefer to Save Money in U.S. Dollars

February 2010

In 2009, the number of savings, checking and fixed-term accounts in dollars increased 26% when compared to 2008.

Accounts in quetzals grew at a lower rate (4.7%), according to data from the Banking Superintendence (SIB).

For accounts in U.S. dollars, the highest growth was recorded in accounts with balances between $1.200 and $1.800 (Q 10.000 to Q 15.000).

Savings in Guatemala Increase by 16%

May 2009

In the last twelve months, fixed-term deposits and savings accounts have shown an increase of 16.1%.

According to data from the Bank of Guatemala, up to and including May 14, there were $5.62 billion (Q45.548.billion) in fixed-term, regular and special savings account deposits.

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