Lending up 8.5% y-o-y in June on booming economy

- Friday, August 19, 2011

Lending up 8.5% y-o-y in June on booming economy

The total loan portfolio of Panama's banking system has risen 8.5% year-on-year in June to reach US$47bn at the end of the month, according to the latest statistics by financial regulator SBP.

The loans of local commercial banks stood at US$26.7bn, while Panama's offshore banks accounted for US$20.9bn.

In the first half of the year, local banks have grown their portfolio by about US$2bn, on the back of Panama's booming economy.

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