The International Banking Center (CBI) is regaining its performance in 2022 in terms of assets, financial intermediation volume, and profitability, as emphasized by the Superintendent of Banks, Amauri A. Castillo, during the presentation of the December 2022 results.

According to the Banking Activity Report (IAB) issued by the Superintendency of Banks of Panama, the assets of the International Banking Center (CBI) exhibited an accelerated expansion rate, thanks to the improved performance of the net credit portfolio as of January 2023.

The results of CBI’s net credit portfolio showed a growth of 12.1% as of January 2023, reaching a total of USD 83.37 billion. This represents a substantial year-on-year difference of USD 9.03 billion compared to January 2022.

The Superintendency of Banks of Panama (SBP) serves as the main counterpart, along with the Ministry of Economy and Finance (MEF), the Superintendency of the Securities Market (SMV), the Superintendency of Insurance and Reinsurance (SSRP), and other stakeholders in the banking and financial sector, in the Financial System Assessment Process (FSAP) of Panama.

Michelle Arango, Secretary-General of the Superintendency of Banks, inaugurated the training seminar on “Supervision and Regulation of Financial Conglomerates,” attended by employees from the Superintendency of Banks of Panama (SBP), the Superintendency of the Securities Market (SMV), the Superintendency of Insurance and Reinsurance of Panama (SSRP), and the Public Employees Savings and Retirement Capitalization System (SIACAP).

- Banks have until December 31 to transition modified loans into the portfolio subject to normal collection treatment.

The modified loans portfolio decreased to 2.7% as of November 2022, representing a significant reduction from the 47.6% recorded in July 2020, as revealed in the final Banking Activity Report (IAB) of the year issued by the Superintendency of Banks of Panama (SBP).

This percentage indicates that pressures on asset quality are under control, highlights the SBP’s report.

The publications will be made available in both print and digital media.
The survey will provide information on financial and default interest rates, commissions, and other fees.

CBI deposits grew by 4.5% in July 2023.

As part of the SBP’s transformation and modernization plan, efforts and investments have been allocated in recent years to strengthen its technological infrastructure.

The Minister of Economy and Finance, Héctor Alexander, presided over the swearing-in and taking office ceremony of María de Lourdes Marengo as a new member of the Board of Directors of the Superintendency of Banks of Panama.

The Ministry of Education (Meduca) and the Superintendency of Banks of Panama (SBP) are collaborating to implement the National Strategy for Financial Education (NSFE) in Panamanian public schools. As part of this initiative, workbooks have been developed to teach elementary school students the basic concepts of responsible financial resource use and to promote a culture of saving money from an early age.