The assets of the International Banking Center (CBI) amounted to USD 146.15 billion, reflecting a USD 5.93 billion increase compared to November 2022. This translates into a year-on-year growth of 4.2%. The growth in banking assets is mainly attributed to the expansion of the net loan portfolio that totaled USD 87.49 billion, a 4.5% year-on-year growth, or USD 3.79 billion more.
With the purpose of strengthening best financial practices and adapting to the global financial environment, the Prevention and Control of Illicit Operations Division of the Superintendency of Banks of Panama (SBP) held the 6th Financial Crimes and Regional Threats Awareness Conference.
The Board of Directors of the Superintendency of Banks of Panama (SBP) has appointed Mr. David Alberto Davarro as Chairperson and Ms. Adriana Raquel Carles as Secretary.
These appointments are for a one-year period from 15th December 2023 to 15th December 2024, as outlined in Resolution SBP-JD-R-2023-01432, dated 5th December 2023.
The Board of Directors of the Superintendency of Banks serves as the highest consultation, regulation, and policy-setting body of the banking regulator. The Board is composed of seven (7) directors with the right to speak and vote.
The net credit portfolio of the International Banking Center (CBI) reached a total of USD 87.096 billion, reflecting a 4.3% or USD 3.60 billion increase in October 2023 compared to October 2022 when it totaled USD 83.49 billion, as revealed by the Banking Activity Report (IAB) for October 2023.
As of the end of the third quarter of 2023, the corporate banking credit portfolio of the National Banking System (SBN) grew by 4.2% year-on-year, reaching a total of USD 60.58 billion. The data suggests widespread growth in several economic sectors, with a particular emphasis on the corporate and household components, as revealed by the Banking Activity Report (IAB) for September 2023.
In celebration of its 25th anniversary, the Superintendency of Banks of Panama (SBP) hosted the 26th Annual Meeting of the Association of Bank Supervisors of the Americas (ASBA), the 108th Board of Directors Meeting, and the High-Level Meeting of the Basel Committee on Banking Supervision (BCBS).
According to August 2023 Banking Activity Report (IAB) released by the Superintendency of Banks, the credit portfolio within the corporate banking segment of the National Banking System exceeded USD 60 billion. This marks a significant 5% growth in August 2023, equivalent to an additional USD 2.89 billion, compared to August 2022 when the portfolio was valued at USD 57.17 billion.
On June 26, the IFRS Foundation through the International Sustainability Standards Board (ISSB) published the first two sustainability standards titled IFRS S1 “General Requirements for Disclosure of Sustainability-related Financial Information” and IFRS S2 “Climate-related disclosures.”
The event was attended by Jorge Luis Almengor, Vice Minister of Finance; Amauri A. Castillo, Superintendent of Banks; the superintendents of Non-financial Reporting Entities and Insurance and Reinsurance (SSRP); and representatives from the financial sector.
The Superintendent of Banks, Amauri A. Castillo, and the Magistrate President of the Supreme Court of Justice, María Eugenia López Arias, signed a Cooperation Master Agreement. The purpose of this agreement is to establish a strategic alliance for the development of joint programs, training sessions, projects, and activities related to the banking and trust industries, as well as other matters pertaining to financial reporting entities.
