Loans to the private sector recorded a total of USD 54.15 billion, as of February 2021, which represents a decrease of USD 31 million (-0.1%) compared to that of January, due to the underperformance of the loans to the private sector (that shrunk in USD 30 million), according to the data from the Banking Activity Report of the Superintendency of Banks of Panama (SBP).
The Superintendency of Banks of Panama (SBP) advises the general public that it will be closed on Thursday, April 1 and Friday, April 2, 2021 in observnce of Holy Week.
The Superintendent of Banks, Amauri A. Castillo, and the Administrator General of the National Authority for Government Innovation (AIG, for its acronym in Spanish), Luis Ricardo Oliva, signed an Inter-institutional Agreement for Cybersecurity.
The Superintendency of Banks of Panama (SBP), along with the German Savings Banks Foundation for International Cooperation (Sparkassenstiftung für internationale Kooperation e.V), will celebrate the Global Money Week 2021 from March 22 to 26 with different activities addressed to children and adolescents in the country.
In response to the summon received at the end of February 2021, the Superintendent of Banks of Panama, Amauri A. Castillo, appeared before the plenary session of the National Assembly to answer the questionnaire sent by the Honorable Parliamentarians on some topics related to the role of the Superintendency of Banks of Panama (SBP), the situation of the banking system, the subsidies, among others.
With an economy affected by the COVID-19 pandemic and the rise of the unemployment rate and the informal employment, the performance of the loan portfolio will be a challenging feat for 2021, explained the Superintendent of Banks, Amauri A. Castillo, during the presentation of the 2020 results of the International Banking Center (IBC).
The Superintendency of Banks of Panama, committed to contributing and supporting community development, donated a Coaster-type bus to Instituto Oncológico Nacional (ION).
The high capital levels, the wide-ranging liquidity, the increase in provision that banks have been applying to face a potential deterioration in the loan portfolio, coupled with the creation of a generic provision equivalent to 3% of the gross balance of the loan portfolio, established in Rule 9-2020, are the foundations that have allowed the financial system to maintain proper functioning and face the shock caused by the COVID-19 pandemic.
