Banking
in Central America
Wednesday, May 23, 2012
The Export Import Bank of the U.S. is interested in companies or infrastructure projects in key sectors.
"We are interested in financing infrastructure projects in the logistics sector, ports, energy and roads, which are key to the commercial movement in this country", said the executive Sean Mulvaney, a member of the board of the U.S. government agency, who recently visited the canal country.
Monday, May 21, 2012
It is no longer enough to use only a passport to open a personal bank account in Costa Rica, instead an identity document issued by the Immigration Department must be provided.
Foreigners living in Costa Rica and diplomats must comply with the additional requirement of carrying a Costa Rican identity card in order to open a bank account, from 1st July.
Friday, May 18, 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.
Thursday, May 17, 2012
The bill which creates the Financial Analysis Unit in Nicaragua does not clarify the obligation to provide a basis for investigations conducted by the institution.
The Superior Council of Private Enterprise (COSEP) and the Association of Private Banks of Nicaragua (Asobanp) have pointed out inaccuracies in a legislative decree regarding the power the future Financial Analysis Unit to conduct investigations in Nicaragua.
Thursday, May 17, 2012
A regulatory amendment empowers the National Housing Institute of Costa Rica to grant mortgage loans to legal persons.
Regulation Law 8448, of the National Housing Institute (INVU) allows loans for housing to be granted exclusively to individuals who are heads of household.
Wednesday, May 16, 2012
A new monetary policy prepared by the Central Bank of Honduras affects the competitiveness of the financial sector and credit availability.
Honduran banks reduced by $1,500 million the amount available for loans to the productive sector and may raise interest rates in light of provisions by the Central Bank of Honduras.
Tuesday, May 15, 2012
Interest rates are being pushed up by the yields paid by the Treasury in its colon securities.
From Aldesa's Pulso Bursátil Blog
Interest rates or income paid by the Ministry of Finance for the deposits in colones faced some upward pressure today.
Monday, May 14, 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.
Monday, May 14, 2012
A passive base rate in excess of 12% would be problematic, affecting the behavior of borrowers and is likely to cause an increase in defaults.
The Passive Base Rate (PBR) reached 10% on May 9, a level not seen since October 2009. The banks set their interest rate according to the PBR and charge an additional margin. It is estimated that there are 400,000 public bank transactions related to this indicator, reported Elfinancierocr.com.
Friday, May 11, 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.
Friday, May 11, 2012
The Development Bank of El Salvador has received about 700 investment prospects recently and is preparing to grant loans starting from this May.
"We have received more than 700 potential prospects, some of which some are already in advanced stages," said Oscar Lindo, chairman of the Development Bank of El Salvador (BANDESAL) to Laprensagrafica.com.
Thursday, May 10, 2012
A bill that would infringe the privacy of information relating to citizens and business has risen alarms in the Superior Council of Private Enterprise.
The future Financial Analysis Unit (UAF in Spanish) would have excessive discretion to request information from public and private entities, said President of the Superior Council of Private Enterprise (COSEP), Jose Adan Aguerri.
Wednesday, May 9, 2012
New legislation is being prepared in Guatemala, which will require recipients of micro credits to receive training on how to use such resources.
The Superintendent of Banks in Guatemala, Victor Mancilla, said "we wouldn’t give money to entrepreneurs without them having first received training on how to manage their business", said Siglo21.com.gt.
Tuesday, May 8, 2012
The Development Bank of El Salvador’s imminent start of operations may be the long awaited solution to the lack of credit for productive activities.
The difficulty in accessing financing has been a limiting factor for the proper functioning of the productive sectors in recent years, a view shared by, for example, Elena de Alfaro, president of the Foundation for Economic and Social Development (Fusades).
Monday, May 7, 2012
Simple transactions such as deposits, card payments and cash withdrawals will be able to be conducted in Panama in grocery stores, supermarkets or pharmacies.
Thanks to the 002-2012 agreement announced by the Superintendency of Banks of Panama (SBP), non-bank correspondents have been established, who will be able to perform some banking transactions such as making deposits, cash withdrawals or credit card payments at sites such as pharmacies, grocery stores, department stores, supermarkets and others.
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