Panamanian banks very liquidFriday, September 19, 2008 83% of their resources are internal deposits, thereby creating a shield against the international crisis. While the banking system in Panama is not 100% immune from the international liquidity crisis, it does have important advantages that help to minimize the impact, declared Ernesto Bazan, general manager of the Equilibrium Risk Agency. Citibank starts operations in PanamaMonday, October 13, 2008 Citigroup cemented the legal fusion of Banco Uno and Cuscatlan Bank in Panama today. These brands will now be removed from the market. The result of the union of these operations is a new brand called Banco Citibank (Panama) S.A. with an equity of 250 million dollars, and assets totaling more than 840 million dollars and a network of 22 branches and close to 200 thousand clients. Panama: Mortgage Loans Grow by 10% a yearWednesday, May 21, 2014 At the end of 2013 the balance of these loans in the banking system exceeded $10 billion, representing growth of 30% in the last three years. The increase in the real income of households, the Preferred Interest Act and the increased demand for housing in the medium / high cost category, have strengthened the portfolio of mortgage loans in the country, with the balance of this portfolio up to March this year standing at $10.296 billion, $9.041 billion for homeownership loans and $1.254 billion for commercial premises. Company Profile Organization that operates in Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama.
Panama Authorizes Chinese Bank LicenseTuesday, June 16, 2020 Panamanian authorities announced that the Industrial and Commercial Bank of China Ltd. was approved for a general license to operate in the local system. The information was confirmed by the head of the Superintendency of Banks, Amauri Castillo, who explained that the Asian banking institution will be able to operate in Panama's financial center and do business in and from the national territory. 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." Mid Sized Panamanian Banks - August 2016Tuesday, August 30, 2016 Fitch notes a high level of competition in the segment of medium-sized banks, limiting the power of price and putting pressure on margins despite specialization in niche markets. From the report "Panorama of Mid Sized Panama Banks": G&T Continental to Invest $15 million in El SalvadorFriday, June 17, 2011 As part of its expansion plan, the bank will invest in the construction of five new branches. The recent opening of branch number 21 on the Gran Via is part of the plan. Panama Banks classified based on securityFriday, November 28, 2008 A new label placed at the entrance of banks in Panama advises clients that they are about to enter a secure institution. The measure was announced yesterday by the Superintendence of Banks in the country which seeks to protect the System and the rights of users. Bank Profits Improve in PanamaFriday, July 20, 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. Panama: Construction Sector Uses 10% Less CreditWednesday, September 28, 2016 Between January and June this year new loans for construction activities totaled $1.497 billion, 10% less than in the same period in 2015. Of the $1.497 billion awarded in construction loans, 17% were financing for commercial premises, almost 5% for housing construction, 8% for infrastructure and 37% for other buildings, according to figures from the Superintendency of Banks of Panama. Earnings of Empresa General de Inversiones Rise by 6%Monday, April 13, 2009 The Panamanian corporation recorded a net profit of $120 million in 2008, an increase of 6% compared to 2007. Empresa General de Inversiones (EGI), which is traded on the Panamanian Stock Market, owns 100% of Empresa General de Petróleos S.A., 100% of Empresa General de Capital S.A. and 61% of Grupo Financiero BG S.A. (Banco General). Panamanian Banks Obliged to Hire Risk Rating CompaniesMonday, March 1, 2010 Banks are now forced to hire specialized Risk Rating companies. The Panamanian Banking Superintendence passed accord 2-2010, which introduces regulations regarding risk rating at banks. Bank Counters in Retail StoresMonday, May 7, 2012 Simple transactions such as deposits, card payments and cash withdrawals will be able to be conducted in Panama in grocery stores, supermarkets or pharmacies. Thanks to the 002-2012 agreement announced by the Superintendency of Banks of Panama (SBP), non-bank correspondents have been established, who will be able to perform some banking transactions such as making deposits, cash withdrawals or credit card payments at sites such as pharmacies, grocery stores, department stores, supermarkets and others. Liquidity, Liquidity, LiquidityTuesday, May 26, 2009 Profitability drops as asset liquidity increases, but liquidity is what ensures the life of the banking business and their customers' money. Panamanian banks have not used the extra funds that the financial incentive program (PEF) made available to them in order to stimulate lending. In addition, it must be considered that said funds are very expensive, and they have simply not been needed. |
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