Monday, July 30, 2012

Panama banking center continues its expansion

The Panamanian banking center has 93 banks with $81.407 billion in assets, 13% more than 2010. $21.987 billion are held by Panamanian-owned non-government banks.

New Panamanian-owned banks include Unibank, Banco Panama, Capital Bank (BVP), Prival Bank and Balboa Bank & Trust, which took over the operations of the Stanford Bank Panama branch.

Panamanian-owned banks continue their expansion overseas. Banco General (f. 1955, BVP: BGEN) has a 5 full service branches in Costa Rica and the representation offices of acquired Banco Continental in Guatemala, Mexico and Colombia.

Multibank (f. 1990, BVP: MULT) acquired Costa Rican car lender MultiResuelve and Colombian money store Macrofinanciera.
Mortgage lender La Hipotecaria (f. 1997, BVP: HIPH) started operations in Colombia and El Salvador.
Private banker Prival Bank owns a stock brokerage firm in El Salvador Invertecnic.
Credicorp Bank (BVP: CRED) has a representation office in Colombia.

For full text see 24.04.12

Banking Statistics
Weekly Liquidity07/20/201265.10%-
Statutory Liquidity Methodologyicon_word
* Banking Center Assets05/201282,787.811.24%
* Banking System Local Deposits05/201234,533.210.29%
* Banking System Local Credit05/201230,415.016.31%
Number of Banks in the Banking Center05/201290-
* In Million of Balboas

For more information about the Panama banking system see

For requirements to open bank accounts in Panama banks see

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