News

With the aim of understanding the Panamanian banking sector’s vision regarding its role in managing and adopting Environmental, Social, and Governance (ESG) criteria, including climate and social risks, the Superintendency of Banks of Panama (SBP) hosted the first Participatory Workshop with banks.

Bank liquidity and solvency exceed regulatory minimums.
Good payment performance is demonstrated by a 2.4% delinquency rate.

The Volunteer Committee of the Superintendency of Banks of Panama celebrated “Good Deeds Day” with various activities, including the creation of the school garden and a self-sustaining chicken coop at Centro Educativo Multigrado Las Zanguengas, located in the community of Las Zanguengas, Panama Oeste.

The Superintendent of Banks of Panama, Amauri A. Castillo, attended the Technical Agenda and General Assembly meetings of the Central American Council of Banks, Insurance, and Other Financial Institutions Superintendents (CCSBSO) held in Guatemala on April 13 and 14, 2023.

For the second year, ‘Tu Balboa con Sentido’ and the Superintendency of Banks of Panama are participating in the 59th edition of the Azuero International Fair (FIA), where the Azuero community and visitors will learn, in an engaging manner, about saving and budgeting, how to manage money, as well as financial advice, free of charge.

The technical staff of the Superintendency of Banks of Panama (SBP), comprised of Roxana Castillo, Director of Supervision of Financial Intermediaries and Trust Companies, and Ingrid Arboleda, Financial Analyst of the Financial Stability Division, attended the meeting of the Accounting and Financial Standards Committee organized by the Superintendency of Banks of the Dominican Republic and the Central American Council of Banks, Insurance, and Other Financial Institutions Superintendents (CCSBSO) in Santo Domingo, Dominican Republic, from April 19 to 22, 2023.

During the meeting, the progress of roadmaps of CCSBSO members to implement the International Financial Reporting Standards (IFRS) was presented.

Representatives from the superintendencies of Colombia, Costa Rica, El Salvador, Honduras, Nicaragua, the Dominican Republic, and Panama participated in the event.

The Superintendency of Banks of Panama (SBP) celebrated its 25th anniversary with a thanksgiving mass at Santuario Nacional del Corazón de María.

The Eucharist was presided over by Monsignor José Domingo Ulloa, Archbishop of Panama, and concelebrated by temple priest Freddy Ramírez.

The religious ceremony was attended by the Superintendent of Banks, Amauri A. Castillo, members of the Board of Directors, the Secretary-General, the executive staff, and over 400 institutional employees.

A revamped version of the previous website, featuring innovative content and enhanced user-friendliness, was unveiled.
The regulatory body aims to provide an outstanding information platform that is incredibly useful for its visitors.

The International Banking Center (CBI) is regaining its performance in 2022 in terms of assets, financial intermediation volume, and profitability, as emphasized by the Superintendent of Banks, Amauri A. Castillo, during the presentation of the December 2022 results.

According to the Banking Activity Report (IAB) issued by the Superintendency of Banks of Panama, the assets of the International Banking Center (CBI) exhibited an accelerated expansion rate, thanks to the improved performance of the net credit portfolio as of January 2023.

The results of CBI’s net credit portfolio showed a growth of 12.1% as of January 2023, reaching a total of USD 83.37 billion. This represents a substantial year-on-year difference of USD 9.03 billion compared to January 2022.

The Superintendency of Banks of Panama (SBP) serves as the main counterpart, along with the Ministry of Economy and Finance (MEF), the Superintendency of the Securities Market (SMV), the Superintendency of Insurance and Reinsurance (SSRP), and other stakeholders in the banking and financial sector, in the Financial System Assessment Process (FSAP) of Panama.

Michelle Arango, Secretary-General of the Superintendency of Banks, inaugurated the training seminar on “Supervision and Regulation of Financial Conglomerates,” attended by employees from the Superintendency of Banks of Panama (SBP), the Superintendency of the Securities Market (SMV), the Superintendency of Insurance and Reinsurance of Panama (SSRP), and the Public Employees Savings and Retirement Capitalization System (SIACAP).

- Banks have until December 31 to transition modified loans into the portfolio subject to normal collection treatment.

The modified loans portfolio decreased to 2.7% as of November 2022, representing a significant reduction from the 47.6% recorded in July 2020, as revealed in the final Banking Activity Report (IAB) of the year issued by the Superintendency of Banks of Panama (SBP).

This percentage indicates that pressures on asset quality are under control, highlights the SBP’s report.

The publications will be made available in both print and digital media.
The survey will provide information on financial and default interest rates, commissions, and other fees.

CBI deposits grew by 4.5% in July 2023.

As part of the SBP’s transformation and modernization plan, efforts and investments have been allocated in recent years to strengthen its technological infrastructure.

The Minister of Economy and Finance, Héctor Alexander, presided over the swearing-in and taking office ceremony of María de Lourdes Marengo as a new member of the Board of Directors of the Superintendency of Banks of Panama.

The Ministry of Education (Meduca) and the Superintendency of Banks of Panama (SBP) are collaborating to implement the National Strategy for Financial Education (NSFE) in Panamanian public schools. As part of this initiative, workbooks have been developed to teach elementary school students the basic concepts of responsible financial resource use and to promote a culture of saving money from an early age.

Tu Balboa con Sentido (TCBS) and the Superintendency of Banks of Panama (SBP) are participating in the International Book Fair (stands 69 and 70), held at Centro de Convenciones Atlapla (Atlapa Convention Center) from August 15 to 20. Attendees will have the opportunity to learn in an engaging manner about savings, budgeting, how money works, and receive financial assistance free of charge.

The Law and Political Science School celebrates “Lawyer Week.”