Deposits in Panama increase 24%

The total for the deposits portfolio in the National Banking System grew over the previous 12 months from October from $7.6 billion to 38.4 billion.

Wednesday, December 10, 2008

What has bankers concerned is that, in the medium term, the growth rate of the internal loan portfolio, which as of October was 18.4% regarding the same month in 2007, is greater than the rate of growth for deposits and that, as a consequence, they will not be able to satisfy the demand or see the portfolio grow.

As a result, they are lobbying for more decisive action in order for "the credit wheel to keep spinning and not affect the economy."

More on this topic

Panama: Banking Assets Up 9% in 2015

March 2016

The International Banking Center reported $118 billion in assets in 2015, $10 billion more than was recorded in 2014.

In 2015 the International Banking Center in Panama reported total assets in the order of $118,477 million, 9.2% more than the amount reached in 2014, when the figure reached $108,419 million, according to figures from the Superintendency of Banks in Panama.

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.

Credit at fast pace in Panama

August 2014

In the first half of the year credit to the private sector grew by 8.7% compared to the same period in 2013, with construction, personal consumption and agricultural sectors being the most dynamic.

Although it denotes a slight slowdown compared to previous years, at the end of first half of the year, the balance of credit extended by banks to the private sector was $36.861 billion, $2.941 billion more than up to July 2013.

Panama: Bank profits grow 57.44%

December 2008

Banks operating in the market earned $904 million dollars in the first 10 months of this year.

The internal demand for credit from the private sector, which was above $31.6 billion in October, continuing an upward trend of 20.38%, according to data from the Panama Superintendence of Banks.

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