Panama: Loan Portfolio Grows by 2%

As of November 2019 the credit portfolio of banks in the national system totaled $55.723 million, 2% more than reported in the same month of 2018, increase that is explained by loans to the livestock sector, mortgage and personal.

Tuesday, February 25, 2020

Domestic credit to the private sector reflects an increase of 2.5% over similar period last year. The sectors that drive domestic credit are associated with personal banking products, reported the Superintendency of Banks of Panama.

The report states that "... Mortgage credit, continues to show positive signs for the banking sector, by registering a 5.0% growth compared to November 2018. This is equivalent to an increase of USD 848 million and maintains it as one of the activities of greatest contribution to growth within the local credit sector.

The domestic portfolio of consumer credit (credit cards, personal loans and vehicle loans) represents 23% of the balance of the Local Private portfolio and is therefore also a fundamental part of credit growth with 5.0%, or some USD 595 million in absolute terms as of November 2019.

The commercial portfolio shows a growth of 0.7%, which is equivalent to USD 87 million, the credit for the Free Zone follows a negative trend compared to the same period last year.
"

See full report (in Spanish).

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More on this topic

Panama: Loan Portfolio Up 2%

October 2019

Up to July 2019, the credit portfolio of the banks of the national system totaled $54.328 million, 2% more than what was reported in the same month of 2018, a rise that is explained by mortgage and personal loans.

Total domestic credit increased by 2% compared to the same period in 2018.

Panama: Loan Portfolio Reports Slight Drop

September 2019

Between March and June 2019, the credit portfolio of banks in the national system decreased from $54.857 million to $54.282 million, explained by the decrease in loans granted to the industrial sector.

Regarding the year on year variation of the credit portfolio, in June was reported a 3% increase over the same month in 2018, derived from the rise of the mortgage and personal loans sectors, informed the Superintendence of Banks of Panama.

Panama: Bank Credit Up 5%

March 2019

Up to November 2018, the credit portfolio of banks in the national system totaled $54.626 million, 5% more than in the same month in 2017, and the increase was mainly because of mortgage and personal loans.

The sectors driving this growth are associated with personal banking products, especially in the mortgage (5.4%) and personal loans (8.7%) sectors, as well as public sector financing that increased by 33.9%, informed the Superintendence of Banks of Panama.

Panama: Credit to the Private Sector Up 5%

January 2019

Consistent with the trend of recent months, mortgage and personal loans again represented most of the 5% increase in credit to the private sector up to November 2018.

According to the latest report of the Superintendence of Banks, in November last year the portfolio of loans granted to the private sector totaled $54.626 million, which is equivalent to an increase of 5.3% over the $51.873 million reported in November 2017.

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