Bank Deposits Grow 7% in Panama

In late January 2011, the Panamanian banking system recorded $ 44.582.000 in deposits, 7% more than the same month of 2010.

Monday, March 14, 2011

MEF analysts highlight the fact that internal and external deposits increased in comparison to last year and pointed out the assets Panama has built after the great financial crisis.

The report emphasizes that this was due primarily to the confidence the Panamanian banking system reflects, which for some was a revelation and for others a reencounter with a safe place for their money.

Finally, analysts expected for capital to leave the country after recovery of international markets, but it has not happened despite the low interest rates offered by the National Banking System.

More on this topic

Panama: Bank Deposits Grow by 11%

December 2011

Internal deposits in individual savings accounts in the banking systems amounted to $25 billion.

The confidence of Panamanian and foreign savers is reflected in the amount of deposited funds in the countries banks, which has grown considerably in the last few years.

Of all the money deposited in the system, internal funds have shown the greatest growth, which at the end of the third quarter was 11% more than in the same period in 2010.

Panama: Deposits Double in Five Years

August 2011

Most of the savings are held by individuals and local licensed banks.

Total deposits rose from about $28 billion in 2006 to more than $54 billion currently, according to the Panamanian Superintendency of Banks.

Of the total, 77% corresponds to savings by individuals, while 85% of them are deposited in banks with a national license.

Foreign Deposits Increase 25% at Panamanian Banks

October 2009

At the end of August 2009, foreign deposits by individuals summed $14.988 million.

70% originate from Latin America, specially Venezuela and Ecuador. reports: "This important increase, which surprised analysts, is proof that markets have stabilized and consumers have regained trust in the system, said local bankers".

Foreign deposits in Panama increase 40%

October 2008

External interbank deposits totaled 8.28 billion dollars at the close of the third quarter.

The most of funds (7.6%) that provide liquidity to the national banking system come from individual desposits and clients.
"The financial integration of our Banking System allows for greater access and negotiation of external funds especially through foreign bank branches and subsidiaries that operate in the country as this represents a clear advantage in maintaining and attracting resources from those seeking greater stability in the face of the current volatility of the external markets," accroding to the Superintendence.

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