Panama's Banking Center Reports Almost 12% Growth in Assets
Contributed by Molina & Co.
15 November, 2012
The International Banking Center of Panama in October 2011 recorded a growth in assets of 11.96%, reaching 79.525 million dollars, compared to the same month last year, reported the Superintendency of Banks of Panama (SBP).
According to a PBS executive report distributed by email, the annual increase inassets is 8.498 million dollars more than in October 2010.
The cumulative net income to October 2011 amounted to 1,078 million dollars,163 million more compared to the previous year, he adds.
He explained that this is possible "by higher revenues, concentrated in interest onloans (11.9%), dividends paid on shares of banks in companies (51.1%) and other income (28.0%)."
The usefulness of this period has generated a ROAA of 1.78% and ROE of 15.1% with an interest margin is at 2.5%.
"Efficiency levels have remained stable, which has strengthened the return onassets," he says.
Also found better results in local loans, amounting to 27.973 million dollars, agrowth of 16.7% over the same period in 2010.
"Compared to December (2010) recorded an increase of 14.9%," he says.
The Banking Center provides an indicator of nonperforming loans to total loans of 0.8%, slightly lower than that obtained in December 2010, located at 0.9%, the report said.
The loan portfolio accounts for 63.0% of total assets, 60.7% higher than that heldin October 2010.
"This is possible as a result of further optimization of resources and meet the demand for credit in the square," he says.
The SBP notes that investments represent 18.1% and 15.0% cash assets.
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