Banking Profits Fall 21% in Panama

©image: Cerro Mijares

In the same period of 2008, banks racked up $860.1 million in profits.

"The drop is mainly because banks are receiving less interest on deposits (around 50% less)", reported Prensa.com.

Source: Prensa.com

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Costa Rica: Banking Profits Drop 21%

October 2009

So far in 2009, profits at local commercial banks have dropped 21% in real terms.

From the entire national banking system, only 4 entities, all of them private banks, have reported real increases in their profits at the end of Setptember.

"There are two main reasons for this slowdown in the banking business: there is little growth in loan placement, and arrears have increased, forcing the banks to spend more in reserves", reported Elfinancierocr.com.

Panama: Banking Profits Down by 33.2%

May 2009

In the first quarter of 2009, banks registered $201.1 million in profits, $99.8 million less than during the same period in 2008.

In February of this year, the profits of Panamanian banks were $26 million. However, while earnings rose to $86.2 million in March, they were 36.6% less than those obtained during the same month in 2008.

Costa Rica: State Owned Banks Earn 28% Less

January 2010

From January to November 2009, earnings at state banks reached $125 million, 28.4% less than the same period of 2008.

Banks blame the economic crisis, which caused a sharp contraction in credit.

"Data from the Banking Superintendence (Sugef), also points to other factors, like increased administrative expenses, and in some cases, less earnings for services", reported Prensalibre.cr.

Profits Down at Guatemalan Banks

April 2010

Following four years of continuous growth, net profits fell to $51.2 million in the first two months of 2010.

Data from the Banking Superintendence (SB) shows that in the first two months of 2007 banks made a profit of $37 million, $54 million in 2008 and $62.3 million in 2009.