As of June 2024, the credit portfolio, and deposits of the International Banking Center (CBI) have shown sustained growth, according to the Banking Activity Report issued by the Superintendency of Banks of Panama (SBP).
The net credit portfolio grew by 7.58%, reaching a balance of USD 91.7 billion. This represents an increase of USD 6.4 billion compared to the same period in 2023, when it was USD 85.2 billion.
On the other hand, the deposit portfolio also shows a growth, totaling USD 106 billion, which represents a 5.06% increase or USD 5.1 billion more compared to the previous year, when it stood at USD 100.9 billion.
CBI's total assets reached USD 148.6 billion, reflecting a year-on-year growth of USD 5.7 billion, or 4.01%. This increase is mainly due to the positive performance of the credit portfolio, which accounts for 21% of the assets.
Regarding the National Banking System (SBN), the local credit portfolio reached USD 84.1 billion, showing an increase of 7.67%, representing an additional USD 5.9 billion compared to the previous year.
The SBN deposit portfolio totaled USD 93.9 billion, with an increase of 6.58% or USD 5.7 billion more compared to the same period last year, when it amounted to USD 88.16 billion.
The report underlines the importance of banking entities diversifying their credit portfolios across different economic sectors. This diversification is crucial to reduce exposure to sectoral volatility and ensure greater financial stability. In addition, it allows banks to support a broader range of economic activities, thus encouraging more balanced and robust national development.
For more information on the factors that explain the results of this report, please visit our website at www.superbancos.gob.pa/Statistics.
