The net loan portfolio of the International Banking Center (CBI for its acronym in Spanish) grew by 5.91%, reaching USD 100,578.9 million, representing a year-on-year increase of USD 5,608.4 million compared to the same period of the previous year. This performance consolidates the loan portfolio as the main driver of asset expansion as of November 2025, according to the Banking Activity Report (IAB) issued by the Superintendency of Banks of Panama (SBP).
IBC deposits remained the primary source of funding, totaling USD 115,131.7 million, with a year-on-year increase of 7.20%, or USD 7,728.8 million. This growth was led by external deposits, which rose by 13.17%, while domestic deposits increased by 3.57%. Taken together, these results reinforce the role of IBC as a regional funding platform, with a composition that continues to favor external funding.
In the case of the National Banking System (NBS), the gross domestic loan portfolio totaled USD 64,958 million, reflecting a year-on-year increase of 1.2%, or USD 774.8 million. This performance was supported by the private sector, whose balance grew by 2.1%, or an additional USD 1,287.7 million, while credit to the public sector contracted by 21.8%, equivalent to USD 512.9 million.
It is important to note that within the private sector, the loan portfolio remains highly concentrated in three segments: commerce, mortgage lending, and personal consumption. Together, these segments increased their share of the domestic portfolio from 76.1% in November 2024 to 77.8% one year later, reinforcing their role as the main drivers of domestic credit.
Regarding new lending, the NBS recorded cumulative disbursements of USD 24,025 million, an increase of 5.1%, or USD 1,163.7 million, compared to the same period of the previous year. Commerce (including services) accounted for nearly 48% of this flow, totaling USD 11,415 million and posting a year-on-year increase of 15.8%, thereby consolidating its position as the primary destination of new credit. Personal consumption also grew by 3.1%, livestock by 5.3%, and a significant increase—albeit from a low base—was observed in mining and quarrying, where disbursements rose from USD 6 million to USD 119 million. Additionally, lending flows to public entities increased by 14.8%.
Meanwhile, net assets of the IBC totaled USD 161,700.9 million, representing a year-on-year increase of 5.69%, or USD 8,705.2 million. This performance confirms the continuation of a strategy aimed at expanding productive assets and optimizing balance sheet utilization in an environment of regional competition for liquidity and still-demanding international financial conditions. Overall, the observed trends suggest efficient resource allocation and prudent balance sheet management, while maintaining solvency metrics consistent with a moderate risk profile.
In terms of liquidity, net liquid assets totaled USD 18,531.1 million, reflecting a year-on-year increase of 7.59%, or USD 1,307.0 million. These assets represented approximately 11.46% of total assets (compared to 11.26% one year earlier), indicating an improvement in the liquidity buffer relative to balance sheet size.
From a solvency perspective, the IBC closed the third quarter with a strong and ample capital position relative to regulatory requirements, posting a Capital Adequacy Ratio (CAR) of 16.34%, well above the regulatory minimum of 8% and its highest level in at least the past eight quarters. This also marks the first time the ratio has exceeded 16% during that period, providing a meaningful buffer against potential asset quality deterioration or episodes of financial volatility.
These results demonstrate that IBC banks maintain solid fundamentals in terms of liquidity, capital, and profitability, positioning them well to navigate a more demanding financial environment. To further consolidate this strength, continued improvements in operational efficiency, optimization of asset and liability management, diversification of funding sources, and enhanced monitoring of asset and capital quality will be essential to preserve structural resilience under potential stress scenarios.
For more information, the full report is available at www.superbancos.gob.pa, under the Financial and Statistics section.
