Panama Bank ListInformation about the Panama banking system
Panama Banking System Begins to Moderate Growth, Consolidating Financial Margins
As of February, 2009 the Panama Banking System began to moderate its growth, consolidating its financial margins, which will guarantee its stability, solidity and safety.
The smaller growth of the assets is a result in great measure to the following factors: prognostications of slower economic growth during 2009, reduction in the growth of the capture of local funds, more strictness in credit policies, preferences for liquidity as well as potential pressures on portfolio quality; uncertainty in the external financial arena and its impact on access to external lines of credit.
In accordance with the executive report of the Superintendance of Banks of Panama (SBP) the growth of twelve months (12M) of the assets of the Banking System in the month of February is 13.6% (less when compared to the 15.1% in January) and the financial margin is maintained at a level of 2.8%.
The growth (12M) of internal credit for the private sector was 13.9%, observing a lessor rhythm in the growth of commercial credit (9.2%) and mortgages (8.6%).
Likewise, the flow of intermonthly loans between January and February of the present year reached a level of B/53 million, due to the important reductions in mortgage credit. The interim construction credit and that of consumption demonstrate significant increases.
The increase in the flow of interim construction is indicative that the payments of projects in the construction phase are being maintained until the completion of the works with guaranteed financing.
The moderated growth of credit portfolios responds to a minor increase in the capture of personal savings. In February 2009, the increase of 11.9% was lightly minor if compared to the 12.3% in January and the 14.9% which closed in December of 2008.
The quality of credit portfolios still shows favorable indicators that do not demonstrate a deterioration in the condition of loan portfolios, which is reflected from the process of a more rigurous administration of credit.
On the other hand, the levels of specific provisions over the highest risk porfolio is satisfactory, given that the characteristics of commericial financing and the construction interims as well as the underlying guarantees for the mortgage and commercial portfolio.
The Panama banking report reflects that the assetss in the individual base of the Banking Center reached B/64,084 million which represents an increase of 8.9% with respect to the same period a year earlier.
The portfolio of external investments increased 12.3% and is located princiapply in private titles and stocks. It is concentrated in the United States, Central American and South American markets.
While the deposits captured from abroad originate prinmarily in the countries Organisation for Economic Co-operation and Development (29.8%), South America (27.5%) and the Caribbean (21.7%).
The system maintains in a stable form the average financial margin of 2.8% which is indicative that the capacity of creation of earnings is maintaining itself healthy.
Lessor results from productive assets, associated with changes in interest rates compensate for reductions in the costs of maintenance of these assets.
For further information on the results of the banking center, visit the web page: www.superbancos.gob.pa. Node: Financial Statistics/Statistical Reports/Year 2009/February
Comments are closed
