españolFive new banks arrive in PanamaWednesday, August 27, 2008 Five new banks have entered the Panama marketplace in the first six months of this year, according to information from the Panama Superintendence of Banks. The banks which started operations this year are: Banco Financia, S.A. de Centroamerica, Credit Suisse, Banco Panama, Cayman National bank Ltd. Panama: Bank Deposits Grow by 11%Friday, December 2, 2011 Internal deposits in individual savings accounts in the banking systems amounted to $25 billion. The confidence of Panamanian and foreign savers is reflected in the amount of deposited funds in the countries banks, which has grown considerably in the last few years. Panama: Bank profits surpass $1 billionWednesday, January 14, 2009 Up to November 2008 there was an increase of 19% compared to the same period in 2007, according to information from the Banking Superintendence. Prensa.com reports on its website that "Under this item, the most important for any business, an upward trend has been observed since 2000, with two exceptions. In 2002, due to the effects of generated by the Argentinian crisis on the operations of the Latin American Export Bank (Bladex), and in 2006, after the fusion of the HSBC Group when there were changes in the earnings of the First Bank of the Isthmus (PBI), as a result of more conservative appraisal of productive assets. Bank utilities in Panama increases 24.5%Monday, October 20, 2008 The net utility accumulated from the banking center up to August 2008 rose to $824 million, an increase of 24.5% in comparison to the same period last year. The individual based assets rose to 63.6 billion, which represents an increase of 26.1% with respect to the same period last year, according to the Superintendency of Banks. Deposits in Panama increase 24%Wednesday, December 10, 2008 The total for the deposits portfolio in the National Banking System grew over the previous 12 months from October from $7.6 billion to 38.4 billion. What has bankers concerned is that, in the medium term, the growth rate of the internal loan portfolio, which as of October was 18.4% regarding the same month in 2007, is greater than the rate of growth for deposits and that, as a consequence, they will not be able to satisfy the demand or see the portfolio grow. Panama: Sale of Multibank AuthorizedFriday, April 3, 2020 The Superintendence of Banks authorized the transfer of up to 100% of the issued and outstanding shares of Multibank in favor of Leasing Bogotá S.A. Resolution SBP-0053-2020 dated March 24, 2020, explains that "... Authorizes the transfer of up to 100% of the issued and outstanding shares of Multi Financial Group, INC. Bank Deposits Grow 7% in PanamaMonday, March 14, 2011 In late January 2011, the Panamanian banking system recorded $ 44.582.000 in deposits, 7% more than the same month of 2010. MEF analysts highlight the fact that internal and external deposits increased in comparison to last year and pointed out the assets Panama has built after the great financial crisis. Maduro is new head of Panama's banking regulatorFriday, June 13, 2008 Félix B. Maduro was named as president of Panama's banking regulator, the Banking Superintendent's Office (SBP). Jorge W. Panama: Changes to Trust LawWednesday, November 21, 2012 The Superintendency of Banks in Panama is working on a bill to amend the Trusts Act governing the trust business in the country. From an article by Manuel Castillo, the Superintendency of Banks of Panama: Panama's banks celebrate strong first quarterFriday, May 16, 2008 Panama's banking system is growing rapidly with major increases recorded in credits, deposits and assets. The system closed the first quarter with total net profits of US$300 million, a 29.1 percent year-on-year increase, a private sector credit portfolio that was 18 percent up at US$20 billion and a 17.8 percent rise in domestic savings. New Controls for Panamanian BanksFriday, February 5, 2010 The Banking Superintendence will require additional documentation to back financial statements. Such new measures comply with U.S. GAAP rules (Generally Accepted Accounting Practices). Foreign Deposits Increase 25% at Panamanian BanksFriday, October 30, 2009 At the end of August 2009, foreign deposits by individuals summed $14.988 million. 70% originate from Latin America, specially Venezuela and Ecuador. New Banks Arrive in PanamaMonday, August 9, 2010 In the first six months of 2010, the Panamanian Banking Regulator (SBP) granted permits to six new operators. The Panamanian Banking Regulator is now studying a further seven requests for upcoming approval. Panama: Banco Universal Enables OperationsMonday, June 15, 2015 The company operated by the Superintendency of Banks has enabled from June 15 receipt of loan payments and balance inquiries in seven of its branches in the country. From a statement issued by Banco Universal: Bank Deposits Up 11% in PanamaFriday, December 14, 2012 In October, total deposits in the International Banking Center increased by 10.61% compared to the same period in 2011. Total savings amounted to $62,361 million, according to information from the Superintendency of Banks in Panama. |
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