Mortgage Loans Increase by 6.5%

Meanwhile the balance of the total outstanding mortgage loans on the same date (October 2011), increased by 19.48%.

"This year, banks have begun to further consolidate their participation in relation to mortgage loans.

Between January and March 2011, banks contributed 93.6% of the money in mortgage loans issued between April and June, the contribution increased to 95.6%, and in September this share was more than 96%", reported Capital.com.pa

Source: Capital.com.pa

More on this topic

Credit Grows in Panama

May 2012

The money provided by Panamanian banks has increased by 2.3% since December 2011 due to the dynamism of the economy and competition among financial agents.

Panamanian banks granted $616.68 million in loans in the first quarter of 2012, an increase of 2.3% since December 2011, according to data from the Superintendence of Banks in Panama.

More Mortgages in Panama

May 2012

In January 2012, there were 202,000 active mortgages, which is an increase of 4.2% compared to 2011.

Figures from the Panamanian Credit Association (CPA) show that in January 2012, there were 202,000 active mortgage loans, representing an increase of 4.2% compared to the figures for the same period in 2011.

Panama: New Credit Cards Down 41%

December 2009

Between January and September 2009, credit card companies issued 6.442 cards, 41% less than the same period of 2008.

This was mostly caused by banks imposing considerable restrictions to credit.

A report by APC, the Panamanian Credit Association, added: "The number of active credit cards dropped 3.2%.

Credit Cards Grow 8.3% in Panama

May 2012

Between January and March 2012 599.000 credit cards were issued in Panama, an increase of 8.3% compared to the same period in 2011.

Data from the Panamanian Credit Association (APC in Spanish), also indicated that the balance on the total number active credit cards was $1.081 million, 11% more than on the same date in 2011 when it was $973 million.