Guatemala: $ 3,077 Million Available for Loans

©image: Paul Falardeau

The president of the Banco de Guatemala, Edgar Barquin, said the bank plans for this year an increase in bank credit of 12.2%.

"Luis Lara, manager of Industrial Bank, said credit demand of individuals and companies have recovered since October 2010 and coincides with the growth of this variable estimated at 12 percent because it is expected for the economy to recover after the effects of the global financial crisis", reports the article in Elperiodico.com.gt.

Source: elperiodico.com.gt

More on this topic

$500 Million Loan for Guatemalan Banks Analyzed

March 2009

In order to support liquidity, the government is analyzing whether to accept a $500 million line of credit from the IDB.

The Superintendent of Guatemalan Banks, Edgar Barquín, said that the purpose of this instrument would be to compensate for the likely loss of foreign credit lines.

$500 Million for Panamanian Banking

April 2009

The approved loan by the IDB must be submitted to the National Bank of Panama and it will be used to restore liquidity.

The National Bank of Panama will offer lines of credit for banks through a financial stimulus trust.

According to what Mipunto.com published: "This loan was provided through the New Liquidity Program for Sustainable Growth of the IDB, which has 6 billion dollars to help countries and their commercial banks that are burdened by the lack of credit due to the crisis to get money."

Modifications to the Banking Law of Guatemala in 2009

December 2008

Banks and financial entities, as well as some companies, will have to give account to the Superintendence of Banks next year.

The regulations include modifications to the Law that governs banks and financial groups in order for the Bank of Gualterio to be able to grand longer term loans to the banking system and to increase the participation of the financial system in the Savings Protection Fund, said the Banking Superintendent, Édgar Barquín.

New Regulations For Banking Liquidity

December 2009

Guatemala's Banking Superintendent submitted new regulations for approval before the Central Bank's Monetary Board.

Edgar Barquín, head of the Superintendence, explained that the proposed regulation intends to comply with Basel accords and strengthen risk-based supervision.