According to the Banking Activity Report (IAB, for its acronym in Spanish), issued by the Superintendency of Banks of Panama, the deposits recorded in the banking system as of January 2022 totaled USD 98.56 billion, an increase of USD 2.11 billion versus January 2021.
In that regard, domestic deposits totalized USD 64.79 billion, during the first month of the year, i.e. a 1.2% growth compared to January 2021.
As for demand deposits, they grew by 5.5%, while customer deposits rose 11.1%.
During the first month of 2022, the assets of the International Banking Center (IBC) totaled USD 134.97 billion, an increase of USD 4.18 billion when compared to the same month a year earlier, i.e. a year-on-year increase of 3.2%. The foregoing was the result of increases in the net loan portfolio (4.0%) and the securities portfolio (11.3%).
On the other hand, the domestic loan portfolio recorded USD 55.32 billion, USD 1.14 billion or 2.1% more versus January 2021. The report highlights that, although the country is economically recovering, this has been asymmetrical, and some sectors are still in a recovery process.
The new loan portfolio managed by banks, as of January 2022, totaled USD 1.34 billion, a 43.0% increase compared to January 2021.
It should be noted the positive performance of the portfolio’s external component that remarks IBC’s key role in meeting the financing needs of Latin American and Caribbean countries.
Regarding the modified [loan] portfolio, for January 2022, it recorded USD 8.29 billion, a decrease of USD 14 billion or 64% when compared to January 2021 and approximately USD 900 million versus December 2021. The sectors with highest migration to the regular [loan] portfolio under Rule 4-2013 are households and real estate.
On the other hand, IBC net profits reached, a total of USD 130.4 million for the first month of 2022, USD 31.3 million more than that of January 2021, i.e. a year-on-year increase of 31.6%.
The Panamanian Banking Center has a strong and resilient position, with capital and liquidity ratios higher than the regulatory minimums. The latest global capital ration shows 15.9%, almost double the regulatory minimum of 8%. As for liquidity, the Banking System reached 59.6%, almost double the legally required.
For further information on the variables that further explain the results of this report, please visit our website www.superbancos.gob.pa / Financial & Statistical node.
