Banco General (Panama)
in Central America
Wednesday, February 8, 2012
Citibank, with $242 million; BAC International Bank, with $176.5 million; HSBC Bank, with $134 million and Banco General, with $133 million, are the banks that have the highest loan amounts.
The annual amounts of loans taken out using credit cards in Panama last November amounted to $867.9 million, far surpassing the $61.1 million figure for the same period in 2010.
Monday, October 17, 2011
Better internet connections and mass use of mobile phones have led to an increase in phishing scams.
In the last year (2010) alone losses of $18 billion and $20 billion were reported, according to information from the Federal Bureau of Investigation (FBI).
"Phishing, which was widespread last year in the Panamanian market, is a type of fraud that uses fake emails which redirect clients to a copy or imitation of a legitimate website, so that personal and confidential information can be gathered and used to commit fraud" reported Prensa.com.
Friday, August 26, 2011
The International Finance Corporation has granted a loan to Banco General de Panama so that it can offer more mortgages to low-income families.
The $50 million long-term IFC funding , which will run for seven years, will enable Banco General match the maturity needed to finance mortgages for low-income groups.
Tuesday, February 15, 2011
In 2010 the global loan portfolio increased 13.26%, with commercial loans growing the most at 22.7%.
Banco General, with $ 4,975 million, was the market leader in loans followed by HSBC with $ 3,859 million.
Monday, May 10, 2010
In Costa Rica, Panama’s Banco General is starting a push into the country’s consumer banking market.
In its first year of operation, the bank focused only on corporate customers, but will now expand into the consumer banking market gradually.
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.
Wednesday, March 24, 2010
Right now, Panama’s mortgage market is very favorable to consumers. 29 banks are offering preferential interest rates, up to 98% 30 year financing, waiving commissions and free appraisals.
A new real estate wave is bringing the market back to life, although without the same strength in all areas. The neighborhoods of San Francisco and Bellavista are currently seeing the most growth in construction.
Tuesday, November 24, 2009
A $20 million non-sovereign guaranteed loan from the IDB will support Banco General, in growing a portfolio of green projects.
The facility will support investments involving energy efficiency, renewable energy, water and wastewater treatment, waste management and other carbon-mitigating projects.
Tuesday, October 27, 2009
Profits for the third quarter summed $50.3 million, 17.4% more than the same period of 2008.
Income for net loan interest and deposit operations increased 8% in the same period.
Laestrella.com reports: "Commissions and other incomes reached $19 million, a 26.3% increase. General expenses remained stable at $37 million".
Friday, October 2, 2009
'Banco General Costa Rica', 100% subsidiary of Panamanian Banco General S.A., inaugurated a new branch in the country.
The bank entered Costa Rica's market in May 2009. This new branch is located in Curridabat, in the capital city of San Jose.
Tuesday, May 26, 2009
Profitability drops as asset liquidity increases, but liquidity is what ensures the life of the banking business and their customers' money.
Panamanian banks have not used the extra funds that the financial incentive program (PEF) made available to them in order to stimulate lending. In addition, it must be considered that said funds are very expensive, and they have simply not been needed.
Thursday, May 7, 2009
The first branch will be officially opened on May 21, and it expects to open 10 to 15 more branches over the next five years.
Federico Albert, vice president of international banking, said that this branch will provide business services and also serve the personal banking segment.
Monday, April 13, 2009
The Panamanian corporation recorded a net profit of $120 million in 2008, an increase of 6% compared to 2007.
Empresa General de Inversiones (EGI), which is traded on the Panamanian Stock Market, owns 100% of Empresa General de Petróleos S.A., 100% of Empresa General de Capital S.A. and 61% of Grupo Financiero BG S.A. (Banco General).
Thursday, February 12, 2009
In 2008, Panama's largest private bank recorded an increase of 58.9% in its net income.
Prensa.com publishes: "By December 31st 2008, Banco General's net assets were valued in $7.908 million, $634 million more than 2007, an 8.72% increase."
Wednesday, July 23, 2008
Panama's National Securities Commission says there are 13 bond issues pending that will raise a total of 602 million dollars.
Among the upcoming issues are a 250-million-dollar issue of perpetual bonds for from Banco General; another from Global Bank Corp for 60 million dollars; and three from the International Bank of Costa Rica, the Multistrategy Fixed Income Fund and the Sociedad de Inversión Inmobiliaria Balboa, each for 50 million dollars.
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