Loans
in Central America
Wednesday, February 1, 2012
Improved grain prices encouraged banks to increase their loan portfolio for coffee production to about $56 million.
The bank approved $56 million for coffee planting in El Salvador between January and November 2011, 29.8% more than the same period in 2010 ($43.24 million), revealed the Superintendency of the Financial System (SSF).
Tuesday, January 31, 2012
The increased demand for bank credit from consumers and businesses plus the financing needs of the government, is putting pressure on the capital market and interest rates.
The competition for liquidity can be seen in the activity of the National Stock Exchange, where the amounts being released on the exchange are increasing because of the concurrence of the state banks - Banco de Costa Rica, Nacional and Popular, and of private banks like Scotiabank, and by other entities such as Grupo Mutual y la Compañía de Fuerza y Luz.
Monday, January 30, 2012
On Friday January 20th Resolution No. 201-940 was adopted, which extends the deadline for the recognition of tax credit for the purchase of fiscal equipment.
A statement from the Chamber of Commerce, Industries and Agriculture of Panama (CCIAP) reads states that “The CCIAP is calling on the corporate sector to apply the tax credit before the deadline.
Monday, January 30, 2012
The Agricultural Development Bank (BFA) has opened a line of credit to help participation in the tenth edition of the Cup of Excellence.
The Agricultural Development Bank (BFA) is opening a line of credit for small farmers, a new feature for this year's tenth Cup of Excellence event, announced the Salvadoran Coffee Council (CSC in Spanish).
"Through this initiative, which will facilitate the entry of more participants, it is expected that at least 250 farms will submit samples, from 26th to March 30th," reports ElMundo.com.sv. "This line is to help small coffee producers to also be able to support the time required for the tournament," said Ana Elena Escalante, executive director of the CSC.
Monday, January 30, 2012
The IDB has provided a $2 million credit line to ProCredit Bank SA for a program of credit and technical assistance for community water projects.
A press release from the Inter-American Development Bank (IDB) reads:
The Inter-American Development Bank (IDB) will help to expand and improve access to clean and affordable water to poor communities in El Salvador with a loan of U.S. $2 million to ProCredit Bank SA for a program of credit and technical assistance for community water projects.
Wednesday, January 25, 2012
Nicaraguan employers are complaining about the high interest rates charged on loans by the Banco de Fomento a la Producción (Bank for Development of Production).
Although the volume of credit to productive activities is generally larger, interest charges remain high: between 10 and 12%.
Wednesday, January 25, 2012
The Banco de Fomento Agropecuario BFA (Agricultural Development Bank) will be investing $35 million this year for loans for the cultivation of basic grains, with interest rates of between 4 and 8%.
The Agricultural Development Bank (BFA) will provide $35 million in loans this year for growing grains, and always with interest rates between 4 and 8%, the newspaper El Mundo reported in its online edition.
Wednesday, January 25, 2012
The Association of Banks of Guatemala has announced the availability of $2.5 billion for loans for production within an optimistic economic outlook.
In light of the private sector’s optimism created by the assumption of a new government and the expectation of more foreign investment, the AGB has said that there will be credit growth in 2012.
Wednesday, January 18, 2012
Interest rates for housing and consumer loans, among others, have risen since last November.
In the case of mortgages, the interest rate applied by state banks rose from 9.43% in November to 9.84% in January and the rate applied by private institutions moved from 8.32% to 8.68% in the same period.
Friday, January 13, 2012
La Hipotecaria landed IDB financing for mortgage loans in El Salvador, Panama and Colombia.
$20 million in loans will help boost loans for low-and middle-income housing to reduce the gap in the housing market.
Thursday, January 5, 2012
From January 19th with the entry into force of the law to encourage development the Banco Multisectorial de Inversiones (Multisectoral Investment Bank) will operate as Banco de Desarrollo, (Development Bank or BDES).
The bank can then direct lending to small and medium enterprises (SMEs). At the moment it can only do so through lines opened by private banks.
Friday, December 9, 2011
As of October loans for the agriculture and livestock sector amounted to $927 million, an increase of 10.3% compared to the same period in 2010.
Data from the Superintendency of Banks in Panama (SBP) indicates that the upward trend has continued since the beginning of the year.
Tuesday, December 6, 2011
China and Costa Rica have signed an agreement for funding via the China Development Bank to build a refinery in the province of Limon.
The China Development Bank (CDB) will provide financing between $800 and $900 million and the rest will be contributed equally by the Costa Rican Oil Refinery (Recope) and the China National Petroleum Corporation International (CNPCI).
Monday, December 5, 2011
The Panamanian Credit Association reported that in October there were a total of 204,000 active mortgages, 6.46% higher than in the same month in 2010.
Meanwhile the balance of the total outstanding mortgage loans on the same date (October 2011), increased by 19.48%.
Friday, December 2, 2011
Between November 2010 and November 2011 loan grants have risen by 14%.
The boom being seen in Guatemala’s economy is one of the main reasons explaining the rise in private sector credit, a key indicator of the state of an economy.
In Guatemala’s case, loans granted by financial entities have grown by 14% this year, driven not only by economic growth but also by the interest rate structure which favors debtors.
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