Micro-credit Up 18.7% in First Semester

This figures are a glimpse of this market's potential in Panama, say local financial brokers.

Monday, September 21, 2009

One of the effects of the economic crisis was that thousand of Panamanians rushed to establish their own businesses, causing an increase in micro-credit of 18.7% in the first half of 2009, when compared to the same period of 2008.

An article in newspaper Prensa.com points out that "Mr. Even Chi Pardo, manager of bank 'G&T Continental', considers the figures an example of this market's potential. His reasoning is based on the 3.8% growth of the entire credit portfolio of the national banking system. Pardo concludes that micro-credit grew more than credit at banks in the same time-frame. ...
Currently, there are three entities engaged in lending to micro and small companies: 'Banco Delta', 'G&T Continental' and 'Mi Banco'".

More on this topic

Guatemala: Bank Assets Up 12%

July 2014

In the first half of 2014 banks assets in the country increased by 12% compared to the same period in 2013, while the amount of loans granted grew by 11%.

Data from the Superintendence of Banks of Guatemala reveals that the profits made by banks in the same period grew by only 0.87%.

Panama: Microfinance Portfolio Up 20.65%

October 2013

Up until August three banking entities with microfinance licenses granted loans worth $154.17 million to micro and small businesses.

Capital.com.pa reports that "statistics from the Superintendency of Banks in Panama up to August 2013 indicate that Banco Delta leads the credit portfolios, with 72.24% of the total. Its followers are MiBanco, with 17.12% and Banco G & T Continental, with 10.64% ... ".

Credit for Entrepreneurs in Panama

November 2010

Credit needs for the entrepreneurial sector in the country reached $ 245 million.

The figure comes from the study "Proposal of policy, strategy and action plan for implementation of micro-finance services in Panama", created by the Ministry of Economy and Finance, the Micro, Small and Medium Enterprises (Ampyme) and the United Nations Development Program (UNDP).

IDB Loans $70 Million to Banco G&T Continental

January 2010

The loan to the Guatemalan bank aims to finance import and export operations.

Within the Trade Finance Facilitation Program (TFFP), the Inter-American Development Bank (IDB) granted Guatemalan Bank G&T Continental $70 million.

Flavio Montenegro, G&T CEO, remarked: "This transaction strengthens our trade operations and supports the economy of Guatemala, as it increases the funding available for our nation's industries".

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