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Net profit of the Panamanian Banking Center reached 808 million dollars

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  • Wed, 08/08/2018 - 21:17
Economia
  • @Superbancos_Pa

The net profit of the International Banking Center (CBI) reached 808 million dollars at the end of May 2018, according to the Banking Activity Report of the Superintendency of Banks of Panama (SBP) released today.

According to said report, the CBI’s efficiency index for the analyzed period maintains the positive trend of the last months; seeing the activity favored by diversified income.

The behavior of the results is similar to those of the previous year, characterized by moderate growth in financial income, similar to the funds cost.

As for the results at the level of the National Banking System, as of May 2018 (excluding international license banks), they reflect a profit of US $ 627 million, with a growth of 6.7 percent compared to the amount reflected the previous year.

The CBI closed with a total assets of 117.376 million dollars, with an growth of 0.9 percent compared to the same period last year, while domestic credit to the private sector rose by 5.9 percent, compared to the same period of the previous year.

The lower level of the external component in liquid placements has also played a role in this process, due to the redirection of resources in search of more profitable operations, the report points out.

It goes on to say this type of strategy has allowed banks to improve their levels of profitability without compromising the financial health of the CBI, made up of some 90 national and international license banks.

"These figures show that the CBI maintains healthy indicators of financial soundness, mainly those of legal liquidity and solvency, which register almost twice the minimum required by the regulation," according to a statement from the SBP.

Source-EFE

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