The Portfolio of New Loans Experiences a 20% Growth Up to April 2024

Thursday, 06 June 2024

According to data from the April 2024 Banking Activity Report (IAB), banking institutions continue to report increases in their portfolio of new loans.

The report reveals that the National Banking System (SBN) recorded a 20% increase in the granting of new loans, reaching a total of USD 7.81 billion. This increase contrasts with the same period of the previous year, when the figure was USD 6.53 billion, representing an increase of USD 1.28 billion.

The economic sectors leading this growth in the portfolio of new loans are financial companies (142%), agriculture (60%), industry (40%), and personal consumption (31%), in reflecting the changing dynamics of the economy and the specific needs of each sector.

The local loan portfolio of the SBN reached a balance of USD 61.58 billion, reflecting a 5.0% increase compared to the same period of the previous year, resulting in a growth of USD 2.95 billion.

Another positive indicator is the volume of deposits collected in the market, which has increased by 7.82%, reaching a total of USD 94.12 billion, indicating the confidence of savers and investors in the country and highlighting the soundness of the financial system.

At the same time, there was an increase of 9.33% in net worth, evidence of a strengthening of the financial structure and a more robust capital base.

The Panamanian International Banking Center (CBI) has also experienced an increase in its total assets, reaching USD 148.69 billion, representing a year-on-year increase of USD 7.24 billion, or 5.12%.

This increase is attributed to a strategy focused on maximizing returns on productive assets, along with active and strategic management of available resources, thereby strengthening the capital and liability structure.

Notwithstanding these encouraging results, it is necessary to consider additional forward-looking provisions in anticipation of the challenges of an economic environment that is expected to be less dynamic in 2024. Banks must carefully evaluate the possibility of deterioration in the portfolio and other emerging risks.

These results underscore the resilience of the banking system in the face of international uncertainty, with adequate liquidity and solvency margins in the context of increased financial intermediation.

Existing regulations and implemented prudential supervision measures strengthen the risk management of credit institutions, mitigating the impact of portfolio deterioration and other potential risks.

It is crucial for banks to continue improving their risk management practices and strengthening their capital reserves to ensure an effective response to fluctuations in portfolio quality and other challenges in 2024.

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