Panama Bank List » Bank News

John Keith and Promerica bank owner 60 percent of aero post

Wed, 04 Nov 2009 19:42:10 +0000

John Keith, CEO of ‘’Banco Promotion’’ in Costa Rica and the James Fendell in Miami has been selling the parts from his business. James Fendell has 40 percentage of the share in aero post and John Keith has 60 percentage of share in the aero post that they own. It was a bit stupidity to sell their products to Miami by these both two intelligent person of panama that are doing unethical plans to destroy the aero post by getting their customers from Miami that is outer region of united states rather a Panamanian.
The both intelligent person may have no idea about ruining the property that they should not have to in order to make the Panamanian industry to move on. There is no response from these both people and attempt to repeat them same question is getting hassle answer.
When they have been tried to contact over the phone calls they are left with the voice mail since they were not present and nothing get back as return from these both peoples. Their building is developed and located at ‘’Banco Promerica’’ in Costa Rica region and that is moved from Costa Rica as a primary manager to John Keith. She is working illegally and operating here with a tourist visa that has been prominently ordered by judicial inspectors.
They have a good commercial license and it requires all kids of evidence to make an indication that aero post individuals have literally a significant meaning with the forms, documents and route of delivery that these packages are using to their almost customers. But the question is who has been delivering the packages. The messenger who playing a crucial role in this game is from St. George bank and that is the reality of the John Keith.
But now a big question is who is Mr. John Keith. By Google is it says that a wonderful SEO who are involved in all these things. They are various definitions about this great guy.
Mr., John Keith is serving is Caribe hospitality as a managing partner and who is senior executive of the Promerica finance corporation for the network they established in North America. He has been serving there for almost 15 years of reputed serving period the year back when it was discovered in Costa Rica and Central America.
Mr. John Keith is also a portafolio Inmobiliario principal partner in S.A. a developer state in this region. He is the one who involved with the setting up the join venture with the Latin America.
He was born 44 years ago in Costa Rica and he is based on Costa Rica and he had a degree of BBA from the Michigan University. The 11th circuit court, Miami has another hearing tat suspect the real outcome to resound in a favor to the air box where these scumbags has discovered the damage. The James Fendell and John Keith have considered as the suspect from the judicial authorities and have been decided to have a favor for air box. They will have to paid for the exceptionally dropping the significant business and will be responsible for the actions to made against them.

French banks will be losing Panama branch

Fri, 02 Oct 2009 18:27:45 +0000

The French based bank BNP, Paribas has announced officially to close the Panama branch by the year 2010 because they have found the panama in the list of tax havens. The economic corporation and development has recently produced the list of such countries. This was the decision made publically in the G-20 meeting that was organized last week where the leaders affirm the summit to fight against the tax havens. The BNP, Paribas has been serving in panama for almost last 57 years of performance. The bankers and the analytics found the other resources to consult this issue and doubted stated that the decision was on the pressure created due to economic corporation and development.
Frank De Lima, the economy minister convinced to find the real reasons for such an unbelievable reason that is going on with the banks. The restriction was based on the fact that said to the recent financial crisis.
De Lima stated that Panama is taking action to go as per the summit requirements made by economic corporation and development. He also said to launch the negotiation for the treaties to avoid the taxation from the members in the organization. The current members are Italy, Spain, Netherlands and Mexico and panama is trying every possibility to resolve this summit. He also met the French president in the U.N. earlier by this month but that does not seem to get successful.

COMPETITIVE BANKING CENTER LINE OF FIRE

Tue, 07 Jul 2009 21:44:36 +0000

Although Panama is renowned for its international financial center and has been prominent on the continent as an important recipient of direct investment, again faced with external threats that put in the ground game won. And promoting the country that companies that offer international services does not help.
In this new saga, the Government determined to form a high-level commission for the protection of international financial and Panamanians.
Among the regulators of banking, but pushed by the international financial crisis, the Banking hired the auditing firm KPMG to develop a competitive banking center.

The full analysis will be released in the coming weeks, but in light of recent events, and information was shared with the authorities and the unions which have joined forces to defend the international services offered by Panama, and respond to questions about the country is a tax haven.
The study found that one of the greatest threats to the country is being considered a “tax haven” and is putting pressure on the Organization for Economic Cooperation and Development (OECD).
71% of respondents felt that the tax has had “very high impact on the competitiveness of the banking center. The secrecy and information control and regulation and legislation were in second place.
One point that speaks in favor of the central bank is that of 14 billion dollars in deposits that are external to the system, only one billion dollars from OECD countries, which is why local bankers say that there is way we can think that Panama is a sanctuary for foreign depositors.

Promotion in Cyberspace
While the government, banks, lawyers, businessmen and lawyers as Eduardo Morgan explained in detail why Panama should not be considered a tax haven, the reality is that companies in cyberspace promote international services in the country, say the opposite .
For a sample button. “Make the tax haven Panama and geographical meaning. Make corporations, opening bank accounts, do business with the Colon Free Zone, etc.”
Panama is much more graphic Offshore Legal Services, which as the main benefit or advantage that is emphasized in Panama: “A full tax – capital generates no tax, no tax revenues, there is no legacy taxes, etc..”
Investors should be guided by reality and not what a company is promoting the Internet to attract customers, notes Morgan, who also criticized the biased promotion is being done and recommended that this be malpractice complaint with the Ethics Committee of the College National Lawyers Guild.
Although he warned that there are similar promotion on the Internet from other countries or jurisdictions, but these do not appear on the “blacklists” of the OECD.
“The important thing is to know that in Panama for a company, the lawyer has to know who is making the document and who are its owners,” he said.
Regarding the tax issue, he said, as the Panamanian territorial systems do almost all countries. The difference is that there is no charge for income taxes that are generated outside the country.
Members of the Committee for the Defense of international preferred not to comment until they submit the full study of competitive banking center, although it acknowledged that this document will guide the development of the strategy to follow and to changes that are required.
In the government of Ricardo Martinelli had not yet discussed the issue, as noted Finance Minister Dulcidio La Guardia, who preferred to reserve comment for when they take control of the Government and were presented with the details of the KPMG study.

The former banker Luis H. Moreno believes that it is time to objectively analyze what is in the best interests of the country because of external pressures that made such great advantages to strong banking center will become disadvantages.
It is important, he added, made a study as long as it serves to focus the problems of a practical and advised “that we are left with the diagnosis in the pocket and taking prompt and effective action.”
One point that criticized the bank for the damage done to the country’s image is being taken with regularity as cases of persons involved in illicit activities such as Nelson Urrego, David and Paul Murcia Rayo Montaño.
“The banking community has to redouble its efforts in this direction and time to detect these irregularities. This is where Panama has to make a true act of faith in his honesty and international combat these weaknesses that have dire consequences for the country’s image, “said Moreno.

Banco Central de Cuba has a new president

Sat, 27 Jun 2009 21:32:26 +0000

The State Council of Cuba Ernesto Medina Villaveirán appointed as new chairman of the Central Bank (BCC), replacing Francisco Soberon Valdes’ request for itself, “according to a press release yesterday.
Soberon, who played that position nearly 15 years with loyalty and honesty “according to the official, asked to be relieved of that position and its status of member of the Communist Party Central Committee (PCC) and the Council of State and member of the National Assembly.
Soberon said that the text of 65 years, expressed interest in “fulfilling the old dream of engaging writing and research on international finance, making their results available to the party and government.” It also reaffirmed its willingness to “continue to work at any task given to him by Fidel and Raul (Castro).”
The new owner of the BCC, Ernesto Medina, he was president of the Banco Financiero Internacional, which handles much of the accounts of foreign companies based in Cuba. Medina is a graduate in Economics and over 35 years has gone from the base to various management positions in the national banking system.

Panama sees banking scandal

Thu, 25 Jun 2009 22:56:06 +0000

On Tuesday the Texas Bank’s customers started withdrawing their deposited funds from the bank and there was a huge panic when the news of fraudulent by Robert Allen Stanford, the only share holder of Texas Bank, was released in the media. US Security Commission investigated Robert Allen Stanford for his fraudulently obtaining $8 billion from 50,000 investors. The two branches of Punta Pacific and Stanford Bank in Obarrio was surrounded with customers, going to ATM machines and cashiers, who wanted to empty their accounts opened with them.
When the management of the bank told the fragile situation they undergone after the fraud done by its only share holder, the bank Superintendent took initiative to save the bank and stopped the operations on Tuesday and appointed Ramon Martinez Stagg as the interim administrator on Wednesday to stop the panic. He was the Executive President of Stanford Bank in Panama.
Robert Allen Stanford is being searched by the Federal authorities. Currently they went to his house, but he could not be found.
U.S. Marshals took control of all the offices and SEC investigators are laying claim Stanford and close associates of him scammed tens of thousands of investors out of billions of dollars. They were trying to win their approval in safe CDs, certificates of deposits, faking double-digit returns.
Two erstwhile employees of the Houston-based company filed a lawsuit and left Stanford. They said that they were pushed to resign when they found the indecency in the financial status.
In the meantime in the banking sector in Panama has been agitated by the Stanford Bank news. Everyone is trying to study the decision of the Superintendent of the bank. The administration is emphasizing that the situation of Stanford Bank is an isolated case. They say it was not a result of worsening of the bank’s financial situation in Panama but it was a result of the decisions made by a foreign government.
Ricardo M. Alba said that because of the legal base the steps taken by the Superintendent of the bank, it was justifiable especially when the Stanford Bank’s main shareholder has been charged under the United States of Banking fraud.
“It was necessary to take preventive measures to stop massive withdrawal in Panama,” said Ricardo M. Alba.
The superintendent of the bank has rejected to provide any more explanations as to what will happen to Stanford Bank in future. He has refused to say anything about the destiny of the bank.
For the time being the measure are taken up and will continue as per required.

Panama Banking System Begins to Moderate Growth, Consolidating Financial Margins

Sat, 13 Jun 2009 22:18:26 +0000

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