Panama banks looking to be more competitive

This month the project to improve competitiveness at the Panama Banking Center will be put in place.

Monday, January 19, 2009 reports: "According to the Superintendence of Banks in Panama (SBP) the projects has four components: the first is a integral diagnostic of the strengths, weaknesses, opportunities and threats (SWOT), the second phase will be a comparative study (Benchmarking) of other similar banking centers, the third component includes an study of the international market and in the fourth stage a strategic action plan will be established in conjunction with the corresponding authorities.

More on this topic

Outlook Improves for Panamanian Banking

June 2017

Based on the improvements that have been made to regulations, the rating agency Standard & Poor's has raised the country's banking industry's risk perspective to stable.

From  a statement issued by the Ministry of Economy and Finance:

Panama: Figures in the Banking Sector at End of 2016

March 2017

In 2016 entities in the banking system managed to increase their assets by 4% and their loan portfolios by 8% compared to 2015.

The annual report by the Superintendency of Banks in Panama includes the main results for the banking center and the banking system during 2016. 

Panama: Canal Bank Completes Acquisition of Universal Bank

January 2016

The bank acquired 70% of the shares of Universal Bank and annulled the license which it had been granted to operate in the microfinance segment.

The Superintendency of Banks authorised CANAL BANK, SA (BMF) General Banking License, to change its name from CANAL BANK, SA (BMF) to CANAL BANK, SA and canceled and annulled the banking license for Microfinancing granted to CANAL BANK, SA (BMF).

Panama: Global Bank Goes Shopping

October 2013

There had been speculation that Global Bank would be sold but shareholders indicate that profits are excellent and instead of selling they are looking to buy other assets.

This was confirmed by the senior vice president of finance of the organization, Jorge Enrique Vallarino.

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