Panamanian Banks Having a Great Time

With average Return on Assets (ROA) of 2.30% and 20.28% on Equity (ROE) in 2011, there has been growth of 63% compared to profits in 2010.

Thursday, March 22, 2012

Net earnings for January 2012 were $147 million, an increase of 62.9% compared to the same period in 2011, according to data from the Superintendency of Banks.

"Despite the volatility of international markets and the uncertainty posed by global economic difficulties in the U.S. and European debt problems, the banking sector is maximizing the economic boom in Panama, which closed 2011 with a 10.5% growth," reported Prensa.com.

In general, loans in the Panamanian financial system recorded growth above 15%, and savings and investment portfolios are performing well.



More on this topic

Bank Profits Improve in Panama

July 2018

Entities in the International Banking Center generated profits of $670 million in the first four months of the year, 11% more than in the same period in 2017.

The April result for the Banking Center, which includes general and international license banks, shows growth of 10.6%. The increase in Net Income is the result of increases in non-recurring financial income, such as the purchase and sale of securities and transactions with derivative instruments, and on the other hand, a decrease in provision expenses, as a result of the entry into force of IFRS 9, which has allowed banks to make an adjustment against retained earnings, informed the Superintendency of Banks.

14.6% Increase in Panamanian Banking Center Assets

January 2012

Banking Center assets recorded a total of $81.24 billion, an increase of $10.34 billion, 14.6%, more than in November 2010.

A press release from the Superintendency of Banks of Panama reads:

Banking Center assets totalled $81.24 billion, an increase of $10.34 billion (14.60%) when compared to November 2010.

Bank utilities in Panama increases 24.5%

October 2008

The net utility accumulated from the banking center up to August 2008 rose to $824 million, an increase of 24.5% in comparison to the same period last year.

The individual based assets rose to 63.6 billion, which represents an increase of 26.1% with respect to the same period last year, according to the Superintendency of Banks.

Panama: Bank profits show 33.8% increase.

September 2008

Banks operating in the local market earned $694 million at the close of the first semester this year.

This figure represents an increase of 33.8% when compared to the same period last year. It also represents a return on average assets (ROAA) of 3.1%
The internal demand for credit in the private sector has continued with an upward trend (17.6%) similar to that at the close of the last year.

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