Up to the month of August the balance of the loan portfolio in the banking system amounted to $47.7 million, 9.9% more than in the same month in 2015.

Although the latest official census figures on constructions were not very promising, this sector continues to lead the growth of credit in Panama. Up to August, credit granted by banks to the construction sector recorded its second highest rate of growth, with 16%, preceded only by credit for industrial activities, which grew by almost 20% during the period in question.

The Superintendency of Banks of Panama states that “… As for the quality of the portfolio, despite posting an increase in default rates, except in the consumer portfolio, all of the portfolios are backed by provisions and guarantees that go far beyond these credits. “

“…Meanwhile, emphasis was given to the fact that local deposits have kept pace, with a positive trend of 5.2%, in line with the country ‘s growth. In August 2016, the amount of deposits by domestic individuals, was made up of demand deposits that added up to US $7,994; term deposits amounting to $20,141; and savings accounts totaling $9.430 million.”