In the local market, an issuance was made of a fixed-rate security with maturity in November 2021 and 216 billion in securities in colones, with terms ranging from 2020 to 2029.
In a statement, the Ministry of Finance reported that"...The issue in colones raiseda total amount of ¢216,205.83 million, in different titles with maturity from 2020 to 2029, associated with fixed and variable rate coupons (Sovereign Adjustable Real) anda fixed rate in dollars with expiration in November 2021, in which $514.82 million was raised; assigned to 15 participants."
Three financial funds in colones and dollars have started to be marketed by the fund management company of group Prival, of Panamanian origin.
Three financial investment funds have now received authorization for public offering by the General Superintendency of Securities.
One of the funds is public and in colones, another is public in dollars and the third is diversified and in dollars. Manager VidalVillalobos told Nacion.com that"...'The difference between the public fund in colones and the diversified fund in colones is that the latter not only invests in public titles but will also invest at least 30% of the fund in private instruments'.
After having bought 100% of the shares of the Costa Rican bank Bansol, Prival Bank announced that from September 7 it will operate in the country under its own brand name.
The purchase of 100% equity of Bansol was announced in April, and now the Bansol brand name is being replaced by the Panamanian bank.
Nacion.com reports that "... Currently, Prival Group consists of Prival Bank, Prival Securities, Prival Trust and Prival Leasing, in Panamá, and Prival Securities in El Salvador. Prival Bank focuses on private, corporate and investment banking in Central America. "
An agreement has been made to the sale of 100% of the shares of Banco de Soluciones Bansol to Grupo Prival de Costa Rica, a subsidiary of Prival Bank S.A.
The relevant fact was published by the Superintendency of Securities (Sugeval):
"... On October 13th all the shareholders of Banco de Soluciones Bansol de Costa Rica S.A signed the documents for negotiation of the sale of all of the shares in circulation of aforementioned Costa Rican bank.
The issuance by Empresa Nacional de Autopista (ENA), is due for release in mid-October and the funds will be used to finance the expansion of the Northern Corridor and for a toll system and a surveillance system.
The Northern Corridor extension will be made from Brisas del Golf up to the 24 de Diciembre and the toll system and video surveillance will be installed on these two highways.
In 2010, nine new banks entered the banking sector in Panama.
Of these, four are local private banks, three have international license and two are foreign banking entities.
The new operations launched are Banco Lafise Panama (March 10), Bank of Nova Soctia (Panama) SA (Oct 10) Prival Bank (March 10), Balboa Bank & Trust Corp (May 10) Banco La Hipotecaria (June-October), Uni Baak & Trust Inc.
Prival Securities, Inc., a subsidiary of the bank with the same name, has agreed to purchase 100% of Mundial Asset Management (MAM) shares.
The agreement was signed in Panama City by Juan Carlos Fábrega, President of Prival Bank and Fernando Lewis, Executive President of Grupo Mundial Tenedora, S.A.
"Once the transaction has been completed, Prival will be one of the leaders of the private banking sector with more than $1.4 billion worth of assets under management and approximately 1,500 clients," reports Laestrella.com.pa.
In the first half of the year the Banking Superintendence (SBP) has authorized 5 banking institutions to operate in the country.
These are “Banca Privada D’Andorra S.A.”, “Banco Prival, S. A.”, “Banco Lafise Panamá, S. A.”, “Banco Internacional de Perú, S. A.” and “Banco La Hipotecaria, S. A.”.
“The SBP is currently considering if it grants a general banking license to Uni Bank & Trust Inc, which was granted a temporary permit on June 24th, 2010”, reported Laestrella.com.pa.
With $25 million in capital, Panamanian owned Prival Bank started operating in the country.
The new institution intends to engage in private and mercantile banking, both in Panama as in Central America, explained Juan Carlos Fábrega, head of the board.
“As for private banking, Prival will serve Panamanian clients and residents in Central America who require a single point of contact, by offering banking and investment services through an affiliate. In mercantile banking, they will focus on credit deals requiring expertise in financial structuring”, reported Prensa.com.