Credit Card Market in Panama

The portfolio of loans granted through credit cards grew by 18% between November 2012 and November 2013.

Monday, January 27, 2014

Up until November 2013, the balance of active cards reached a total of $1.207 billion, while in the same period of 2012 it was $1.021 billion, representing an increase of 18% , according to statistics from the Superintendency of Banks of Panama (SBP).

" ... From January to November last year banks operating in the local market managed to finance an additional $186 million compared to the year 2012 ... " .

" Among the banks with the largest balance of loans approved through credit cards are BAC, Citibank (Panama), Banco General, Banistmo and Banesco ... " .

" ... The good performance of this portfolio is due to the supply from various banks operating in the local market , which allows consumers to have several options when applying for all types of financing," said Julio Aguirre, from the Banking Association of Panama (ABP by its initials in Spanish).

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In February 2016 the mortgage loan portfolio exceeded $13 billion, 15% more than was recorded in the same period in 2015.

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