In response to the country’s health crisis, 15 banks have granted a 90-day extension for their customers to make their personal credit card, home mortgage, vehicle and personal loans.

Until March 31st, the financial institutions that confirmed that had granted the extension to their clients are BAC Credomatic, Banco General, Banistmo, Banco Nacional, Global Bank, Multibank, St. Georges Bank, Banesco, Banco Aliado, Credicorp Bank, Caja de Ahorros, Ficohsa, Metro Bank, UniBank and Canal Bank.

A statement from the Panama Banking Association (ABP) explains that the “… initiative applies for April, May and June 2020, and does not require you to contact your bank. With this measure, our clients will have an automatic extension of their payments, without any surcharge or affectation to their credit references.”

The document adds that the banks appeal “… to the responsibility and solidarity of each client, and if possible to make regular payments of their obligations. Payments received by direct discount or by voluntary payment will be applied to their respective loans.”