In recent weeks, the country's financial system has seen a considerable drop in the lending rate on new loan operations, which is partly explained by the reduction in the Monetary Policy Rate.
According to reports from the Central Bank of Honduras (BCH), between March 9 and April 10, 2020, the rate fell from 14.81% to 10.31%. This fall is being recorded in the context of the health crisis caused by the outbreak of covid-19.
Fitch Ratings agreed to change the perspective of the region's banks from stable to negative, arguing that the current health crisis will affect financial institutions in all countries.
Considering the measures that countries have adopted in the last 15 days in economic matters, following the spread of covid-19, Fitch expects that there will be a decrease in the issuance of loans.
It was agreed that debtors and financial institutions may define a new maximum payment date, in all those cases where the customer had to pay their fee during the curfew, which will be in force until April 12.
A grace period will also be granted that could be until June 30, 2020, depending on the needs of each client and the ability of the bank to maintain the necessary liquidity without receiving those payments, reported the National Commission of Banks and Insurance (CNBS).
The impact of the coronavirus crisis on the financial sector in Central America is expected to be felt mainly in services related to stock brokerage and investment advice, where a drop is expected.
The "Information System for the Impact Analysis of Covid-19 on Business", prepared by the Trade Intelligence Unit of CentralAmericaData, measures the degree of impact that the crisis will have on companies according to their sector or economic activity, during the coming months.
In a context where economic activity continued to show moderate growth at the end of 2019, the Central Bank decided that as of February 10th the Monetary Policy Rate would be reduced from 5.5% to 5.25%.
The National Bank of Agricultural Development of Honduras tenders the monitoring service of alarms against theft and technical support of alarm systems, for agencies at the national level.
From May 2019, foreign customers will have to declare to local system banks that their funds meet their country's tax requirements.
The Superintendence of Banks of Panama (SBP) approved Agreement 02-2019, which implements the recommendations of the Financial Action Task Force, which consists of expanding the required due diligence measures of banks with their customers.
Financial institutions operating in the Honduran market reported the issuance of $1.313 million in new loans during 2018, 21% more than the $1.081 million recorded in 2017.
Limiting the fees charged in Costa Rica and establishing a law that defines market limits in Guatemala are part of the attempts being made in the region to regulate the use of credit cards.
A law proposal presented last January before the Legislative Assembly of Costa Rica, aims to regulate the percentage of the commission paid by businesses for credit or debit cards. According to the initiative, this task would be in charge of the Central Bank and the Commission to Promote Competition.
On February 14th and 15th, representatives of banks, international financial institutions and risk rating agencies will meet in Panama City to discuss issues related to the sector.
The event called "International Banking Congress for Regulators & Bankers," will be organized by the Superintendence of Banks of Panama (SBP) and seeks to address issues such as Basel III, prevention of money laundering, de-risking, new risks facing the industry, financial innovation-Fintech, cybersecurity, among others.
On November 14th, Banpro Grupo Promerica issued $200 million in bonds on the international market for a six-year term under the 144A format.
The bank announced that the issuance was made by Promerica Financial Corporation (PFC), its main shareholder, and that the issue was structured by Bank of America Merrill Lynch and Credit Suisse.
From January to June of this year net profits of banking entities totaled $116 million, registering an increase of 7% with respect to the same period last year.
According to figures from the National Commission of Banks and Insurance (CNBS), the increase in net income registered between the first half of 2017 and the same period this year was 7%, growing from $108 million to $116 million.
At the end of April of this year, the loan portfolio granted by banks amounted to $12.582 billion, registering a 13% increase compared to the same period last year.
According to figures from the National Commission of Banks and Insurance (CNBS), between the month of April 2017 and the same period in 2018, the loan portfolio grew by $1.433 billion, rising from $11.149 billion to $12.582 billion.
The financial group G & T Continental has obtained a general license to expand the services it provides in Panama, where it plans to strengthen its corporate and private banking area.
The financial institution started operations in Panama in July 2008 under the name of Banco Financia, S.A. (BMF) and in 2009 changed its name to Banco G & T Continental (Panamá) S.A.
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