I can remember when I was able to shop for the best CD rate and got a great Panama Bank CD with a 5% rate and savings accounts were 3% to 4%. You will find it hard to get a bank to pay more than 3% for anytrhing today as they are flush with deposits. Here is the story.

Source: martesfinanciero.com
Tuesday, April 27, 2010
Panamanian banks were prudent and dodged the crisis successfully; they are now full of cash, and eager to lend money. With close to $13 billion in liquid assets, banks in Panama are getting ready to finance the Government’s large infrastructure projects, which require $2.4 billion in 2010 and $3.2 billion in 2011. In the 5 years of Martinelli’s government, the State is expected to invest around $15.6 billion.

An article in Martesfinanciero.com printed statements by Alexis Arjona, senior vice president at Banco Aliado: “We pay close attention to the government’s ambitious infrastructure investment plan, as it will bring many financing opportunities from companies awarded with large contracts”.

Estimates for Panama’s economic growth for the next years are above others like Brazil, Chile and Peru, resulting in an exceptionally optimistic outlook for Panamanian banks.