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.
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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.
With a 13% growth, the net loan portfolio of the International Banking Center (IBC) continues to evolve favorably, totaling USD 80.63 billion, i.e., USD 9.26 billion more than that a year earlier, and the expectations of new placements are in an expansion area, because of the normalization of the global monetary policy and the lower growth perspective for the second half of 2022.
To continue with its supervisory work that allows preserving the stability of the financial system by exchanging information of cross-border banking groups and facilitating the collective understanding of financial groups’ risk and vulnerabilities, the Superintendency of Banks of Panama held the Sixth Supervisory College of Promerica Group.
“For the Superintendency of Banks, it is vitally important to bolster the knowledge of the financial sector,” said the Superintendent of Banks, Amauri A. Castillo, during the opening ceremony of the second training session on the “Anti-corruption Integrity Guidelines,” addressed to the Compliance personnel of banking institutions.
With a budget investment of USD 24.39 million for 2023, the Superintendency of Banks of Panama (SBP) intends to strengthen the supervision of reporting entities by adopting technological tools and reinforcing its highly trained human resources, informed the Superintendent of Banks, Amauri A. Castillo, during the presentation of the 2023 budget before the Budget Commission of the National Assembly.
Adriana Raquel Carles Rojas took office as new a member of the Board of Directors of the Superintendency of Banks of Panama (SBP), at the Office of the Ministry of Economy and Finance, H.E. Héctor Alexander.
The domestic loan portfolio showed a significant improvement as of June 2022 by recording USD 56.59 billion, a USD 2.37 billion or 4.4% increase versus June 2021.
The Banking Activity Report of the Superintendency of Banks of Panama (IAB, for its acronym in Spanish) highlights that, as of the fifth month of the year, the banks’ loan portfolios keep showing an upward trend, where all new loans segments have accumulated positive results.
For the Superintendency of Banks of Panama (SBP) is of vital importance to promote the modernization of the domestic financial system, with new technological businesses that allow financial inclusion, within a fit and flexible regulatory framework and that seeks to place easy, friendly, and secure financial solutions within the underserved public’s reach, thus allowing responsible innovation.
The uncertainly of the international context due to geopolitical threats has not prevented the International Banking Center (IBC) from recording better results. Proof of this is that the Banking Activity Report (IAB, for its acronym in Spanish), as of April 2022, reported an accumulated net profit of USD 648 million, a 54.6% growth versus April 2021, when it recorded USD 419 million.
Despite the recent geopolitical conflict, tighter financial conditions, and significant inflationary pressures, banks continue recording increases in their new loan portfolio, according to the statistics contained in the Banking Activity Report (IAB, for its acronym in Spanish) as of March 2022.
They will promote the Tu Balboa con Sentido website
SBP completes first stage of identifying strategic allies
Despite greater global risks, the financial conditions of the system’s institutions remain comfortable and with high liquidity.
This analysis demonstrates that the Panamanian Banking System can face a hypothetical risk scenario.
The Superintendent of Banks, Amauri A. Castillo, attended the Board of Directors meeting of the Association of Supervisors of Banks of the Americas (ASBA), held in Montevideo, Uruguay on April 27 and 28, 2022.
Starting today, Villa de los Santos and its surrounding towns will be visited by a team from the Superintendency of Banks of Panama (SBP) that will be participating with the “Tu Balboa Con Sentido” stand in the 58th edition of the Azuero International Fair (FIA, for its acronym in Spanish), as part of the initiative that seeks to strengthen free financial education nationwide.
An alliance between the Asociación Panameña de Ejecutivos de Empresa (APEDE, Panamanian Association of Business Executives) and the Superintendency of Banks of Panama (SBP) creates new opportunities for the private sector to join the efforts that seek to promote financial education nationwide.
To raise awareness about the rational and efficient use of energy, both in the institution and at home, the Superintendency of Banks of Panama (SBP) held a training addressed to its employees.