Panama’s International Banking Center (CBI) closed year 2024 with solid financial performance, reaffirming its position as one of the fundamental pillars of the country’s financial system. These findings were presented during the results briefing event, where a 6% growth in assets was highlighted, reaching USD 156,392.8 million, along with an 8.2% increase in profits, reflecting the sector’s resilience and adaptability in a complex global economic environment.
Among the key achievements, a 9.1% growth in the net loan portfolio was emphasized, reaching USD 95,186.7 million, as well as a 7.0% increase in investments in securities, demonstrating a clear strategy for diversification and optimization of productive assets. Additionally, the 17.1% expansion in the external loan portfolio reflects greater integration with international markets, driving credit dynamism.
During the presentation, it was noted that the domestic loan portfolio grew by 4.9%, reinforcing confidence among both households and businesses. The trade and industry sectors saw an 8% increase, while household banking, including the mortgage portfolio, recorded a combined growth of 3.5%. Furthermore, new loan disbursements grew by 11%, reaching a balance of USD 25,220 million, surpassing 2019 levels for the first time and marking a milestone in the recovery of credit activity.
The Superintendent of Banks, Milton Ayón Wong, stated that "the growth of the domestic portfolio and the increase in new loan disbursements are clear indicators of the strength and resilience of our banking system. These results not only reflect the confidence of households and businesses but also the banking sector’s capacity to drive the country’s economic recovery."
The presentation also highlighted the strength in deposit collection, with total balances reaching USD 110,484.5 million. This growth, driven by both domestic and external deposits, reflects continued depositor confidence and reinforces a diversified funding base that contributes to the CBI’s operational stability.
Regarding financial strength indicators, liquidity, and capital adequacy, banks operating within the CBI comply with current regulations. It was emphasized that local banks maintain an average liquidity ratio of 54.29%, significantly exceeding regulatory minimums, and a Capital Adequacy Ratio of 15.29%, well above the required 8%. These results ensure an adequate cushion to absorb potential financial shocks and mitigate risks.
The event featured presentations by key representatives of the Superintendency of Banks of Panama (SBP). Javier Motta, Director of Financial Stability, presented the banking system’s performance in 2024, while Ingrid Arboleda, Head of Systemic Risk, shared insights on financial inclusion, the Sustainable Finance Taxonomy, and the results of the ESG risk survey, emphasizing the importance of offering responsible and sustainable financial services.
In his remarks, Superintendent Ayón Wong addressed banking risks and presented the regulatory agenda, underscoring the importance of strengthening supervision, improving operational efficiency, and reinforcing cybersecurity by adopting the highest international standards. He also outlined a roadmap emphasizing the need for a payment systems law adapted to the challenges of banking modernization, aligned with the recommendations of the Financial Sector Assessment Program (FSAP) of the IMF and the World Bank.
The event brought together government authorities, leaders from the banking and financial industry, regulatory bodies, multilateral institutions, credit rating agencies, members of the diplomatic service, and media representatives, establishing itself as a key space for dialogue and reflection on the future of Panama’s financial system.
For more information and access to a detailed analysis of these results, visit the website: www.superbancos.gob.pa/Estadística.
