Panama: Crisis does not halt demand for credit cards.

In spite of inflation and the world financial crises, Panamanians continue acquiring credit cards and the banks have not increased their restrictions.

Tuesday, November 11, 2008

As of September of this year the banking system credit card balance reached 629.8 million dollars, up 5.6 million dollars as compared to August's numbers of 324.2 million dollars, according to the Bank Superintendent's Office.

Throughout the year this growth has remained constant. For example in February it reached a $5.9 million increase and in May growth was...

More on this topic

Mortgage Delinquency Increases by 6.6% in Panama

April 2009

The delinquent mortgage portfolio reached $1.032 billion on January 31, 35% of all delinquencies in the system.

An analysis on mortgages by Equilibrium risk rating revealed that the financial system’s mortgage portfolio amounts to $22.4 billion or about 24.9% of all loans. Where late payments are concerned, mortgages have a much greater weight in the system, reaching 35% of all delinquent loans.

Panama's Bank Profits to Decrease in 2009

March 2009

Equilibrium, a risk rating firm, predicts a slowdown in the Panamanian banking sector in 2009.

Equilibrium, a risk rating firm and a subsidiary of Moody's Investors Service, Inc., believes that credit stagnation, lower margins and higher provisions will push the results of the Panamanian banks downward.

Isthmus banks suffer due to "Gringo" partner.

November 2008

Central American banks were booming -- but close ties with the USA darken their future.

Central American was undergoing an interesting banking system evolution. Now the crisis has hit hard. Remittances have dropped and so has international business. More expensive capital halts investments in infrastructure and global liquidity restrictions will have a strong impact.

Panamanian banks very liquid

September 2008

83% of their resources are internal deposits, thereby creating a shield against the international crisis.

While the banking system in Panama is not 100% immune from the international liquidity crisis, it does have important advantages that help to minimize the impact, declared Ernesto Bazan, general manager of the Equilibrium Risk Agency.

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