Asociación Bancaria de Panamá
in Central America
Monday, November 14, 2011
The Panama Banking Association has asked the government to respond to statements made by the French president and claim compensation for damage caused to the country.
Mario de Diego, executive vice president of the Panama Banking Association (ABP), said that if the concern of the member countries of the Organization for Economic Cooperation and Development (OECD), "is that the Panamanian banking system is safeguarding funds originating from these countries, statistics show the opposite."
Monday, August 29, 2011
The modifications include new subjects and sectors who will be required to implement the regulations for prevention of money laundering.
In order to conform to international standards, Panamanian authorities are considering possible amendments to the Law 42, passed in 2000 on the prevention of money laundering and combating the financing of terrorism.
Thursday, August 25, 2011
Authorities from the hemisphere will discuss methods of preventing money laundering in financial institutions.
Experts from Costa Rica, the United States, Colombia and other Latin American countries are participating in the congress organized by the Banking Association and the Commission for the Prevention of Money Laundering, which will run until Friday.
Thursday, August 18, 2011
Most of the savings are held by individuals and local licensed banks.
Total deposits rose from about $28 billion in 2006 to more than $54 billion currently, according to the Panamanian Superintendency of Banks.
Of the total, 77% corresponds to savings by individuals, while 85% of them are deposited in banks with a national license.
Friday, February 4, 2011
In 2010, the consolidated assets of the banking system totaled $ 71,932 million, 11.4% higher than 2009.
The superintendent of banks, Alberto Diamond, said that net income reached $ 1,067 million in 2010, 16.1% higher than 2009.
Monday, July 26, 2010
Possible repercussions of the double taxation agreements being signed concern the banking sector.
This issue and regulatory management were the center of debate over Panamanian banks' competitiveness and their future in the 19th banking conference, organized by the Panamanian Banking Association (ABP).
Tuesday, April 27, 2010
Panamanian banks were prudent and dodged the crisis successfully; they are now full of cash, and eager to lend money.
With close to $13 billion in liquid assets, banks in Panama are getting ready to finance the Government’s large infrastructure projects, which require $2.4 billion in 2010 and $3.2 billion in 2011. In the 5 years of Martinelli’s government, the State is expected to invest around $15.6 billion.
Tuesday, December 8, 2009
In September, managed assets reached $64.09 billion, a 0.63% increase when compared to the same period of 2008.
Mario de Diego, executive vice president of the Banking Association of Panama, stressed the Center's solidity, whose assets continue to grow and maintains good liquidity.
Thursday, November 26, 2009
The effective income tax rate paid by banks (known as ISR in Spanish), could increase to somewhere between 14% and 15%.
Eduardo Lee, who represents the banking establishment in this negotiation with the State, submitted a proposal in which banks will have to distribute costs proportionally to how much they earn from their domestic and foreign operations.
Thursday, October 15, 2009
Its main objectives are setting fixed interest rates and limit customer's credit card debt.
The project also proposes to regulate credit card issuers, by forcing them to obtain a banking license awarded by the Banking Superintendence.
Friday, July 17, 2009
At the end of May, the delinquent portfolio of the banking system summed $565 million, up from $369.7 in the same period of 2008.
According to data from the Banking Superintendence, delinquent loans account for 2.5% of the total credit portfolio.
Tuesday, June 16, 2009
Three financial companies have requested a total of $100 million from the Financial Stimulus Program, which up to now had not been utilized.
The three banks that requested funds from the Financial Stimulus Program (PEF), as confirmed by the executive of the National Bank of Panama, Darío Berbey, are firms with foreign and Panamanian capital. Due to issues of confidentiality, their names were not revealed.
Wednesday, May 6, 2009
Panamanian banks will not use Financial Stimulus Program funds due to their terms and conditions.
The Banking Association of Panama, through its president, Mosi Cohen, told the new government’s transition team that banks have not and will not use Financial Stimulus Program (PEF) funds unless there is a change in the terms and conditions.
Wednesday, April 15, 2009
Restrictions on credit are affecting the development of Panamanian hydroelectric plant construction projects.
In Panama, the current 1,632 megawatt supply of electricity covers current demand with very little to spare, reason for which it seeks to increase supply by 47.4% for 2012.
Currently, there are projects in the stages of final analysis and construction for $2.264 billion, which would provide 996 megawatts to the country’s electrical system.
Tuesday, April 14, 2009
The terms and conditions of the Financial Stimulus Program for banks to access the $1.11 billion are ready.
The banking industry has repeatedly indicated that for the program to be attractive, it should allow the use of funds without the submission of collateral.
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