The Superintendent of Banks, Milton Ayón Wong, inaugurated the VII Awareness Session titled "Strengthening Financial Integrity towards ML/FT/FPWMD Risk," organized by the Directorate of Prevention of Money Laundering and Illicit Operations of the SBP.
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As part of the 2024 Continental Training Program, the Association of Supervisors of Banks of the Americas (ASBA) conducted an in-person course on Liquidity Risk in Panama City, from September 30 to October 3, 2024.
The balance of consumer loans granted by banks with a general license in Panama has shown sustained growth of 4.43%, reaching a total of USD 13,9 billion, according to the Banking Activity Report (IAB) as of July 2024, issued by the Superintendency of Banks of Panama (SBP). This increase is equivalent to USD 592 million more than in the same period of the previous year.
As of June 2024, the credit portfolio, and deposits of the International Banking Center (CBI) have shown sustained growth, according to the Banking Activity Report issued by the Superintendency of Banks of Panama (SBP).
The financial soundness indicators show that the CBI continues to be resilient, contributing to financial stability.
The Superintendent of Banks, Mr. Amauri A. Castillo, participated in the 2024 XXVIII Latin American Congress on Internal Audit and Risk Assessment (CLAIN), held in Panama on June 27 and 28, 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 Superintendency of Banks of Panama (SBP) has presented the Financial Stability Report (IEF) for the end of 2023, providing an evaluation of the main risks to the country’s financial stability and financial system.
The loan portfolio for industry, agriculture, and commerce accounts for 27.9% of the loans in the National Banking System (SBN) as of the first quarter of 2024, according to the Banking Activity Report (IAB) issued by the Superintendency of Banks of Panama (SBP).
The Board of Directors of the Superintendency of Insurance and Reinsurance of Panama has approved the appointment of Mr. Fernando Sucre Míguez as its representative on the Board of Directors of the Superintendency of Banks of Panama.
The deposit portfolio of the International Banking Center (CBI) grew by 9% as of February 2024, amounting to USD 107.06 billion, a year-on-year increase of 9% compared to February 2023 when it totaled USD 98.22 billion, according to the Banking Activity Report (IAB) issued by the Superintendency of Banks of Panama (SBP).
• Panama becomes the third country in Latin America and the Caribbean and the first in Central America to launch its Sustainable Finance Taxonomy.
• This key instrument will facilitate the flow of trade and capital towards environmentally sustainable investments in Panama, contributing to the transition towards a resilient, sustainable, and inclusive national economy.
Banks comprising the International Banking Center (CBI) are off to a strong start in 2024, as evidenced by significant growth in both loans and deposits. according to the Banking Activity Report (IAB) issued by the Superintendency of Banks of Panama (SBP), the net loan portfolio of the International Banking Center saw a notable increase of 5.9% as of January, totaling USD 88.24 billion. This represents a USD 4.87 billion rise compared to the same period last year when it stood at USD 83.36 billion.
Banks have successfully adhered to regulatory requirements while also demonstrating resilience in the face of market fluctuations.
The Financial Coordinating Council (CCF), through its working group on Anti-Money Laundering, Countering the Financing of Terrorism, and Financing the Proliferation of Weapons of Mass Destruction (AML/CFT/WMD), consisting of the Superintendency of Insurance and Reinsurance of Panama (SSRP), the Superintendency of Banks of Panama (SBP), and the Superintendency of the Securities Market of Panama (SMV), organized the first seminar entitled “Effective Corporate Governance: Insights from Coordinated Supervision in AML/CFT/WMD,” aimed at representatives of financial conglomerates operating in the country.
The International Monetary Fund (IMF) concluded its mission in Panama, presenting its conclusions on the national economy in the organization’s traditional Article IV report.
With the purpose of contributing to and supporting the educational development of the student community, the Superintendency of Banks of Panama (SBP) donated a 15-person capacity minibus to Centro Educativo Multigrado Las Zanguengas located in La Chorrera, Panamá Oeste.
The assets of the International Banking Center (CBI) amounted to USD 146.15 billion, reflecting a USD 5.93 billion increase compared to November 2022. This translates into a year-on-year growth of 4.2%. The growth in banking assets is mainly attributed to the expansion of the net loan portfolio that totaled USD 87.49 billion, a 4.5% year-on-year growth, or USD 3.79 billion more.
With the purpose of strengthening best financial practices and adapting to the global financial environment, the Prevention and Control of Illicit Operations Division of the Superintendency of Banks of Panama (SBP) held the 6th Financial Crimes and Regional Threats Awareness Conference.
The Board of Directors of the Superintendency of Banks of Panama (SBP) has appointed Mr. David Alberto Davarro as Chairperson and Ms. Adriana Raquel Carles as Secretary.
These appointments are for a one-year period from 15th December 2023 to 15th December 2024, as outlined in Resolution SBP-JD-R-2023-01432, dated 5th December 2023.
The Board of Directors of the Superintendency of Banks serves as the highest consultation, regulation, and policy-setting body of the banking regulator. The Board is composed of seven (7) directors with the right to speak and vote.