Profits Up 102% At Metrobank PanamaMonday, April 12, 2010 In 2009 the bank made a net profit of $4.6 million, 102% more than 2008. “This is a result of the bank consolidating its corporate and commercial businesses and a more efficient use of liquid assets, especially when investing in Panamanian Sovereign Bonds, commented Rolando de León, Tresury vice president”. Metrobank: The Panamanian Bank with the Most Profits in 2008Tuesday, March 31, 2009 Among the banks with national capital, Metrobank had the highest net income growth (462%) during 2008. For 2008, the bank reported $2.2 million in net income, an increase of 462% compared with 2007 which closed with $405,158. Financial Products for WomenWednesday, May 30, 2012 In Panama, banks are still not sufficiently appreciating the market potential that women represent for differentiated products. The Panamanian banking has not developed real special offers for women, except for a very few limited products. Panama: Intense Competition in Personal LoansThursday, February 21, 2013 The average interest rate in Panamanian banks fell from 9.41% in December 2011, to 9.11% in the same month of 2012. Capital.com.pa reports that Rolando De Leon, vice president of operations and cash flows of Metrobank, said: "This behaviour in rates is in response to competitive pressure exerted by Panamanian banks to acquire more participation in the segment of consumer credit. " Shortage of Qualified Personnel in Panama's Banking IndustryMonday, July 15, 2013 The annual growth of 13% of the International Banking Center has unveiled staff shortages, mainly in specializations such as compliance, risk and auditing. Roberto Gonzalez, in his article in Prensa.com, explains that "the first consequence, as related by the bankers themselves, is the occurrence of cannibalism between businesses and employees salaries are being raised." Financial Stimulus Program is Law in PanamaThursday, March 12, 2009 The law establishes a trust fund of $1.11 billion to be used by banks to finance productive investment. According to the Cabinet Decree which was approved March 9, the resources should be directed to finance new productive investments or those that were begun after June, 2008. Panama's Metrobank counts cost of new technologyMonday, May 26, 2008 Panama's Metrobank is happy with its results despite an annual net profit of only $405,000, up from US$375,000 the previous year. Rolando J. De León, Metrobank's operations manager said that the arrival of new shareholders and a new management had meant a restructuring that was costly in terms of technology and human resources. More Agricultural Loans in PanamaTuesday, June 30, 2015 Despite the decline in the sector, the balance of agricultural loans is growing and April 2015 amounted to $1,448 million, with BNP, Global Bank and Multibank granting the most loans. Figures for April 2015 show that the National Bank of Panama (BNP) has a balance of agricultural loans of $445 million, Global Bank with $300 million, Multibank with $162 million and Banistmo $110 . In One Month FATCA Process StartsWednesday, June 12, 2013 July 15 will see the opening of the registration process for banks to comply with the Law on tax compliance for accounts abroad, adopted in 2010 by the U.S. This law will affect banks' relations with the so-called "U.S. persons" worldwide. "Since mid-July, therefore, banks may finalise the agreement with the IRS (Internal Revenue Service, an organization equivalent to the Department of Revenue) to be part of the law-abiding entities", reported Prensa.com. Stock Market Recovery in GuatemalaWednesday, February 13, 2013 The total amount of stock transactions increased by 33.6% in 2012 compared to the previous year. Elperiodico.com.gt reports that "According to Paulo de León, consultant at the Central American Business Intelligence (CABI), the volume of transactions is reaching a significant amount, and is evidence of a recovery after several very difficult years. ' The Business of Shares CustodyFriday, October 12, 2012 The immobilization of bearer shares planned by the government of Panama in order to meet OECD requirements, has opened up business opportunities for banks. The "Bill to adopts a system of custody for shares issued to the bearer" being studied by the Martinelli administration, includes the creation of the position of custodian of bearer shares, which could be a lawyer, a bank , a brokerage firm or fiduciary who knows and has separate records of the owners of these instruments. Failure to have these records would mean fines for custodians. Felix B. Maduro Gets Bought and Removed from Clinton ListFriday, November 18, 2016 Felix B. Maduro Group has been bought by FBM Retail Corp., a company whose leading shareholder is Grupo Arrocha of Panama, along with Grupo Diunsa and AF International Group Corp. From a statement issued by the Ministry of Economy and Finance in Guatemala: Guatemala Commits to Increase Cocoa ProductionFriday, October 29, 2010 With technical assistance and new plantings, the country expects a 25% increase in cocoa production. Currently there are about 3,700 metric tons planted and are harvested by about 3.000 producers. "Government should intervene whenever they have to"Monday, October 13, 2008 The president of the El Salvador Stock Exchange explained his vision about the financial crisis in the US and its root causes: lack of efficient supervision. Rolando Duarte Schalegeter has been the president of the Exchange since 1999. This entity, in which all buying and selling of stock are carried out and the offering of public debt by the Government, is recognized as one of the region's most modern, and has headed the process of integrating regional capital markets along with Costa Rica and Panama. Salvadoran stock exchange analyzes financial crisisTuesday, October 14, 2008 The global financial crisis and its implications for El Salvador are topics that will be analyzed by Rolando Durate Schlageter, president of the Stock Exchange, on Wednesday 15 October. The theme of the conference by Duarte will be "The international financial crisis and its implication for El Salvador," and will be held at the Campestre Club at 7:00 a.m. |
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