The International Banking Center (IBC) of Panama reaffirms its position as an essential pillar of the national financial system and a regional benchmark, strengthening the confidence of depositors and investors through its excellent operational and financial performance. This is highlighted in the Banking Activity Report (BAR) as of November 2024, issued by the Superintendency of Banks of Panama (SBP).
As part of its ongoing efforts and commitment to strengthen Panama's International Financial Center, the Superintendency of Banks of Panama (SBP) has developed strategies aimed at optimizing and streamlining the process of opening bank accounts in the country.
The credit portfolio of the International Banking Center (IBC) reached USD 94.859 billion, reflecting an interannual growth of 8.9% compared to the same period in the previous year, which stood at USD 87.096 billion, according to the Banking Activity Report (BAR) issued by the Superintendency of Banks of Panama (SBP) as of October 2024.
The Board of Directors of the Superintendency of Banks of Panama (SBP) has appointed directors Rafael Guardia Pérez and Adriana Raquel Carles as Chairperson and Secretary of the board, respectively.
During the Ordinary Meeting of the General Assembly of the Central American Council of Banking, Insurance, and Other Financial Institution Superintendents (CCSBSO), held in Tegucigalpa, Honduras, from December 4 to 6, 2024, the Superintendent of Banks of Panama, Milton Ayón Wong, assumed the Vice Presidency of this important regional organization.
In 2024, Panamanians' Christmas savings reached a historic total of USD 244 million, benefiting 445,133 savers. This result marks a 15% growth compared to the previous year, indicating a stronger commitment from families toward financial planning.
The operations of Panama’s International Banking Center (IBC) continue to evidence steady credit growth. Over the past year, the credit portfolio increased by 9.1%, reaching a total of USD 94.1 billion, while total assets rose by 6.9%, surpassing USD 150 billion for the first time.
The Superintendency of Banks of Panama organized the seventh Supervisory College of the Promerica Group, bringing together representatives from this important financial group to present their corporate strategies related to their business.
As of the end of August 2024, the International Banking Center (IBS) achieved notable growth in its loan portfolio, according to the Banking Activity Report (IAB) from Panama's Superintendency of Banks.
The Superintendent of Banks, Milton Ayón Wong, inaugurated the VII Awareness Session titled "Strengthening Financial Integrity towards ML/FT/FPWMD Risk," organized by the Directorate of Prevention of Money Laundering and Illicit Operations of the SBP.