The Superintendent of Banks, Amauri A. Castillo, along with the Deputy Director of Banking Supervision, Luis Barahona, and the Environment Analysis Manager, Patricio Mosquera, attended the 10th Joint Meeting of the Central American Monetary Council (CMCA, for its acronym in Spanish) and the Central American Council of Superintendents of Banks, Insurance and Other Financial Institutions (CCSBSO, for its acronym in Spanish), a physical and virtual event held in San José, Costa Rica.

Because of the negative effects that climate change could trigger in the financial system, the Board of Directors of the Superintendency of Banks of Panama (SBP) approved Rule 11-2022, dated 1 November 2022, “Whereby number 13 is added to Article 4 of Rule 8-2010 on Comprehensive Risk Management.”

The National Banking System’s (NBS) domestic portfolio recorded increases in the gross loan portfolio amounting USD 58.14 billion, with a 12-month performance of 6.2% (USD 3.41 billion), a figure related to greater qualified loan demand, as indicated in the Superintendency of Banks’ Banking Activity Report as of the end of IIIQ2022. According to these data, the private banking loan portfolio recorded the highest annual growth since January 2018.

The Superintendency of Banks of Panama (SBP) formalized its adherence to the Central American Green Taxonomy Project. The initiative, which also includes the banking systems of Colombia, Ecuador, and the Dominican Republic, aims to help financial players and other stakeholders determine which investments can be identified as green investments within their jurisdictions.

The Board of Directors of the Superintendency of the Securities Market (SMV) recently approved the appointment of Mr. Eduardo Lee as its representative to the Board of Directors of the Superintendency of Banks of Panama.

Panama, October 4, 2022.- The Inter-American Development Bank (IDB), together with the Superintendency of Banks of Panama (SBP) and the Panama Banking Association (ABP, for its acronym in Spanish), presented the “Integrity Handbook for the Banking Industry”, tailored specifically for the banks and the financial institutions in the market, to address the risks related to the lack of transparency that these entities could face during the performance of their activities.

According to the Superintendency of Banks of Panama’s Banking Activity Report data, the commercial and mortgages components drive the sustained growth of the International Banking Center’s (IBC) loan portfolio as of August 2022.

The Board of Directors of the Superintendency of Banks of Panama (SBP) recently approved the appointment of Messrs. Rafael Guardia Pérez, as its representative on the Board of Directors of the Superintendency of the Securities Market (SMV), and David Alberto Davarro, as its representative on the Board of Directors of the Superintendency of Insurance and Reinsurance of Panama (SSRP).

As home supervisor, the Superintendency of Banks of Panama hosted the Fourth Supervisory College of BiCapital Corp. Financial Group, a face-to-face and online event.

The use of technology for business continuity and offering services and products through new tools must embrace measures to prevent money laundering and other illicit activities, considering the regulations issued by each regulator in its home country and international standards, remarked the Superintendent of Banks, Amauri A. Castillo, during the opening ceremony of the Sixth Supervisory College of Ficohsa Group.