Panama's Banco General receives US$160 million syndicated loan

Panama City's leading bank, Banco General, received a US$160 million syndicated loan coordinated by Unicredit and BNP Paribas.

Tuesday, June 3, 2008

The bank said that the loan – which is divided into two tranches, one of two years, the other of three – will broaden and diversity its sources of financing. The interest rates were not revealed.
Other institutions that participated in the loan were Bank of Tokyo-Mitsubishi, Wachovia Bank, Credit Suisse, Dresdner Bank, JP Morgan, HSBC and Banco Nacional de Panamá.

More on this topic

Panama: Banco General Increases Profits 17%

October 2009

Profits for the third quarter summed $50.3 million, 17.4% more than the same period of 2008.

Income for net loan interest and deposit operations increased 8% in the same period. reports: "Commissions and other incomes reached $19 million, a 26.3% increase. General expenses remained stable at $37 million".

New Banco General Branch in Costa Rica

October 2009

'Banco General Costa Rica', 100% subsidiary of Panamanian Banco General S.A., inaugurated a new branch in the country.

The bank entered Costa Rica's market in May 2009. This new branch is located in Curridabat, in the capital city of San Jose.

"It is a bank with General License, providing the Costa Rican market with products and services to consumer and corporate clients", reports

Banco General of Panama Begins Operations in Costa Rica

May 2009

The first branch will be officially opened on May 21, and it expects to open 10 to 15 more branches over the next five years.

Federico Albert, vice president of international banking, said that this branch will provide business services and also serve the personal banking segment.

Panama's Banco General income grows 58.9%

February 2009

In 2008, Panama's largest private bank recorded an increase of 58.9% in its net income. publishes: "By December 31st 2008, Banco General's net assets were valued in $7.908 million, $634 million more than 2007, an 8.72% increase."

"The loans portfolio was valued in $5.560 million, with home and commercial loans the products that grew the most..."

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