Interest Rates Down in Panama

Over the last ten years interest rates for loans has shown a downward trend.

Wednesday, January 5, 2011

According to information from the Panama Superintendence of Banks, the interest rates for commercial loans decreased from 10.5% to 7.5% and for consumer loans the reduction in rates was 2.8 percentage points from 12.7% to 9.9%.

"In the case of industry loans, the rate went from 10.5% to 7.6%, resulting in 2.9 percentage point drop," reports the article at Laestrella.com.pa.

More on this topic

Costa Rica: Reserve Limit on Foreign Loans

June 2015

Starting from 1. July and during that month, the reserve amount will be 5%, in August it will rise to 10% and in September it will achieve its permanent value of 15%.

The Board of the Central Bank of Costa Rica in Article 9 of the minutes of the session 5686-2015, on May 6, 2015, ... agreed to:

Panama: Preferential Interest Rates for Agriculture In Effect

May 2015

The agricultural and agribusiness sectors can now access bank loans with discounted interest rates.

The discount on interest rates to be applied to companies in the sector is part of the Law 15 on incentives for agriculture, which was approved and published in the Official newspaper La Gaceta on April 23, 2015.

Credit Card Market in Panama

January 2014

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

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).

Panama: Interest Rates Bottom Out

October 2013

Although they claim it will not be for long, interest rates remain at their lowest level for six years.

Laestrella.com.pa reports: "... in December 2007, the average interest rate on loans given for economic trade activities stood at 8.7%. Today, the average is 6.6%, which is a reduction of 2.1%. "

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