The general manager of the Savings Bank (CA), Andrés Farrugia, indicated that in the last six months alone, the financial institution has approved more than US$16 million in mortgage loans, with 13,500 new loans granted, reflecting a clear commitment to housing accessibility in the country.

He added that in the last five years, the CA has allocated more than US$1.6 billion in mortgage loans, benefiting about 24,500 Panamanians.

“The Savings Bank continues to consolidate itself as one of the main players in the Panamanian financial sector, especially in the field of mortgage loans, which represent about 65% of its credit portfolio,” Farrugia said.

According to the manager of the CA, this dynamic will continue to be key until the end of 2024, highlighting that within that proportion, 80% of the mortgage loans granted are under the preferential interest modality.

Farrugia also stressed that, given the new challenges arising from economic conditions and the modification of housing bonds, the institution has taken prudent measures to ensure the financial strength of its portfolio.

“We have managed adjustments with the aim of protecting the financial health of our clients and ensuring the viability of our operations,” he said.

While some mortgage credit applicants do not qualify for loans that have traditionally been given with the preferential interest bonus, the CA manager explained that customers should aspire to homes with a more affordable value.

“It’s a time when we all have to make adjustments. The State, banks and real estate developers must collaborate to adapt to the reality of the market,” said Farrugia.