The Minister of the Presidency, José Simpson, representing the President of the Republic, Laurentino Cortizo Cohen, delivered Decree No. 8 of May 19, 2023, which increases the capital of the National Bank of Panama (BNP), the most important banking entity in the country, to one billion balboas.

“This is an important event for the country and the State, since it is aimed at strengthening the stability and solidity of the entity, within the framework of the National Government’s policy of ensuring the institutionality of the National Bank of Panama,” the minister said at the event before the main authorities of the National Bank of Panama.

He stressed the importance, in correspondence with the fact that the bank has reported the highest profit in its 118-year history: a record figure of B/.195.1 million in profits at the end of 2022, “which is the result of the effort of collaborators and effective decision-making in the management of the balance sheet, thus generating higher returns,” he said.

The minister specified that, “during the difficult and complex times recently experienced by Panamanians, the National Bank of Panama has participated in the solutions and responses implemented by our government to lead the country towards a solid economic recovery.”

For his part, the manager of the BNP, Javier Carrizo Esquivel, affirmed that in this way the provisions of article 4 of the Single Text of the Organic Law of the banking entity are complied with, which determines that the capital of the bank will be increased periodically by the Board of Directors, after the Executive Body issues a favorable concept, in accordance with the provisions of banking legislation and best

“We proudly announce an important milestone, that we achieved approval to capitalize B/.150 million more, increasing the Bank’s Paid Capital to B/. 11,000 million, which allows us to consolidate the Bank’s position of all Panamanians with a solid assets, to respond quickly and consistently to the needs of all our customers,” said Carrizo Esquivel.

In this way, the National Bank of Panama has achieved a capitalization of B/.350 million in four years, which is equivalent to an increase of 54%. “Collaborators committed to continuous improvement and the support of the Central Government have made it possible to achieve this historic milestone that reinforces the competitiveness of our economy,” said Carrizo Esquivel.

In the event, in which Minister Simpson made the symbolic delivery of Executive Decree No. 8, the Minister of Economy and Finance (MEF), Héctor Alexander; the Minister Counselor of Agricultural Affairs, Carlos Salcedo; and the president of the Board of Directors of the BNP; Lizbeth Ann Henríquez, among other special guests, participated.