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.
Under the theme “Finance for Life: Strategies for a Sustainable Financial Future,” Kathy de Guardia, Director of International Projects and Affairs at the SBP, served as the guest speaker during the monthly update meeting hosted by the National Human Resources Association (ANREH, for its acronym in Spanish).
We are actively working to enhance financial literacy in the country. This time, the Financial Education program “Tu Balboa con Sentido,” under the leadership of the Superintendency of Banks, hosted the “Savings and Financial Plan” workshop for the Institutional Protection Service (SPI, for its acronym in Spanish) agents. During the workshop, participants gained knowledge about setting financial goals and managing personal finances.
The Superintendent of Banks, Amauri A. Castillo, delivered the opening remarks at the “Anti-Money Laundering, Countering the Financing of Terrorism and the Proliferation of Weapons of Mass Destruction (AML/CFT/WMD): Risk-based Approach Supervision, Financial Services and Products” Workshop organized by the Superintendency of Banks of Panama (SBP).
