Panamanian Banks Give Extensions to ClientsTuesday, March 31, 2020 In response to the country's health crisis, 15 banks have granted a 90-day extension for their customers to make their personal credit card, home mortgage, vehicle and personal loans. Until March 31st, the financial institutions that confirmed that had granted the extension to their clients are BAC Credomatic, Banco General, Banistmo, Banco Nacional, Global Bank, Multibank, St. The Lehman effect on Costa RicaWednesday, September 17, 2008 Analysts and economic gurus are forecasting a dark future for the Costa Rican economy, after the failure of Lehman Brothers. Things could get worse with the announce on Sunday of the sudden sale of Merrill Lynch, in which the Central Bank of Costa Rica probably has some assets, to Bank of America. 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. Buyers for Citi's Consumer Banking ActivitiesThursday, November 27, 2014 The banks Davivienda and Grupo Aval, already present in Central America, could be in talks with Citi to acquire its consumer banking operations in the region. The sale of assets of Citigroup in 7 countries in Latin America represents an expansion opportunity for Colombian banks. Bloomberg reports cited by Elfinancierocr.com note that in the case of Banco Davivienda, it's interest is soley in the consumer banking units in Peru and Guatemala. Costa Rica Prepares New International Debt IssuanceThursday, March 27, 2014 The government is working on a bond issue in the international market for $1 billion, with terms of between 10 and 30 years. The bond issue was structured by the Bank of America, Merrill Lynch and Deutsche Bank according to information provided by Jordi Prat, Deputy Minister of Investment and Public Credit. Balboa Bank License Extended AgainMonday, July 25, 2016 In order to facilitate the reorganization and sale of Balboa Bank and the brokerage firm Balboa Securities the deadline for being able to access the US financial system has been extended until February 2017. The extension of access to the US financial system comes just weeks after it was announced that both entities will be reorganized for their subsequent sale. Deutsche Bank and HSBC to Sell Costa Rican EurobondsThursday, February 12, 2015 An announcement has been made that the government has selected Deutsche Bank and HSBC to structure and place on the international market an issuance of debt of up to $1 billion, scheduled for February 2014. In order to take advantage of any "window of opportunity" that may present itself in the international market in terms of rate conditions and demand for the issue, the government of Costa Rica has accelerated the process and selected Deutsche Bank and HSBC to lead the process of placement of public debt worth up to $1 billion. Costa Rica: Sovereign Bond Prices DropFriday, April 11, 2014 In two days yields on external debt maturing in 2023 rose by 0.23% after the announcement of the departure of Intel and the Bank of America. In addition to increasing the perception of risk in investments in Costa Rica, Bloomberg.com reports that Citi cut its growth forecast for the Costa Rican economy in 2014, from 3.5% to 3.1% and from 4% to 2.2% for 2015. Panama Issues $1.25 billion at 3.75% at 10 yearsThursday, March 12, 2015 The issue in the international market had demand of 4.6 times and was placed with a coupon of 3.75%, 178 basis points above US Treasury bond for the same timeframe. From a statement issued by the Government of Panama: Allbank Corp Opens in PanamaThursday, November 22, 2012 The Venezuelan Grupo Financiero B.O.D. has officially opened its Allbank offices in Panama City, where it started operations on 23 July. Capital.com reports that "The general license bank has been operating in Panama for three months from the Tower of the Americas, and provides all services, and has a team made up of 31 employees. Their CEO, Santos Alonso, is a certified public accountant with over 30 years experience in the area. Financial Access in Central AmericaTuesday, September 21, 2010 Bank Accounts per 1,000 adults: Costa Rica 1354, Guatemala 1140, Honduras 758, Panamá 412. In branches per 100,000 adults, Guatemala is first with 35, followed by Costa Rica with 23, Panamá 18, El Salvador 9, and Honduras 2. No available data for Nicaragua. Panamanian Stock Market Linked to International MarketsMonday, April 7, 2014 The connection to the global capital market will allow for diversification of the sources of financing for local businesses and access to a broader investor base. The agreement signed between the Panama Stock Exchange, Euroclear Bank and Central Latinoamericana de Valores will provide a direct link to international financial markets. AllBank Intervention in PanamaTuesday, September 10, 2019 On September 9, local authorities took operational and administrative control of AllBank, Corp, arguing that the group of "shareholders did not respond in a timely manner to the requirements of the corrective actions" that were instructed. The results of the latest supervisions carried out by the Superintendence of Banks of Panama reflect a strong weakness in the health of the loan portfolio, which added to a fragile management of Corporate Governance, the institution reported. Promerica Buys Citi GuatemalaFriday, September 18, 2015 The financial group from Nicaragua has announced the acquisition of the consumer and commercial banking operations of Citi in Guatemala. Promerica Group announces the signing of a definitive agreement for the acquisition of consumer banking and commercial banking of Citi Guatemala, subject to approval from the regulatory agencies. The Smell of Blood in the Financial MarketsTuesday, July 19, 2011 Financial markets are in turmoil. Shares of banks are going down. European bonds are paying out record rates. Big corporations are announcing layoffs. |
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