What impact has the new Law 12-2012 had?
Like its economy, Panama’s capital markets are highly internationalised. With a dollarised economy and free mobility of capital flows, Panama attracts brokers and financial institutions from other regions that choose the country to carry out their international financial operations, in other words the majority of their business. Another feature...
As in any mature banking sector, a small group of large banks dominate the market in Panama. By assets held in the third quarter of 2013, the five largest banks operating in Panama were Banco General, HSBC, Banco Nacional de Panama, Bladex and Bancolombia. Only Bancolombia does not operate in the national banking system (NBS), as it has an...
In the third quarter of 2013, credit was the main component of International Banking Centre (IBC) assets, reaching $62.5bn, 64% of the total. Interest generated by loans was the source of 58% of the IBC’s income from January to September 2013. In 2012 the volume of credit represented 154% of GDP in the IBC and 128% in the national banking system...
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