Panama: Loan Portfolio Still Rising

As of August 2019, the credit portfolio of the banks of the national system totaled $54,805 million, 2% more than what was reported in the same month of 2018, a rise that is explained by mortgage and personal loans.

Monday, December 9, 2019

Total domestic credit increased by 2.1% compared to the same period in 2018. The sectors driving this higher growth in absolute value are associated with personal banking products, especially in the mortgage (5%) and personal loans (5.8%) sectors, informed the Superintendence of Banks of Panama.

The document explains that "... Mortgage credit continues to show positive signs for banks, registering a 5.2% growth compared to August 2018. This is equivalent to a USD 825 million increase and maintains it as one of the activities with the greatest contribution within the local credit sector.

The domestic portfolio of consumer credit (credit cards, personal loans and vehicle loans) represents 22.8% of the balance of the Local Private portfolio so it is also a fundamental part of credit growth with 5.8%, or about USD 681 million in absolute values.

The commercial sector maintains the trend of recent months, which is affected by wholesale credits given in free zone and show an 8.3% reduction up to August. However, excluding these loans in August 2019 wholesale loans would grow by 1.7% and commercial activity in turn USD 41 million than reported in 2018. On the other hand, the retail component grew 0.2%.
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See full report (in Spanish).

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Up to March 2019, the credit portfolio of banks in the national system totaled $54.857 million, 5% more than in the same month in 2018, and the increase was again explained by mortgage and personal loans.

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