2023-08-25 08:15:19
Mortgages and personal loans were the portfolios that grew the most until July 2023
Bank loans maintain a growth trend of 5% versus the 4% that other industries continue to report, according to the Credit Reference System (SRC) managed by APC Intelidat.
The banking percentage, which in gross figures represents $34,429,271,109, exceeded the behavior of the same period when it registered $32,742,486,915.
The results were highly influenced by the volumes reported in mortgages ($20,282,191,012), personal loans ($7,788,740,874), credit cards ($2,541,256,952), others ($1,935,330,982) and car loans ($1,881 .751.289).
While the other industries had a slight increase of $4,285,620,290 versus the $4,130,472,538 reported in 2022.
The portfolios that grew the most were personal loans, after reaching $2,627,230,855; credit cards followed with $412,136,326; mortgages with $409,437,986; car loans with $176,888,677; services with $124,162,336.
In the segment of new loans, banks were also consolidated with a total of 40,287, up to June 2023. The amounts not only exceeded those of the same period, but also those of pre-pandemic.
However, the cooperatives presented 6,233, below the 6,599 in the same period, and the 6,422 in 2019.
While the financial ones with 24,617 did not exceed those of 2022 when 27,650 were registered, but the pre-pandemic ones did when there were 15,583.
Until June 2023, the SRC registered a total reported balance of consumer credit for a value of $38,714,891,399.
This trend in the growth of bank loans coincides with the banking activity report of the Superintendency of Banks of Panama (SBP), which detailed that at the end of the first semester the commercial bank credit portfolio had a growth of 5.3% , in its interannual comparison, reaching a balance of $59,614.
This behavior, said the SBP, is due to the 4.0% annual growth in credit to companies and individuals with business activity, 2.6% annual growth in consumer credit, 5.4% annual growth in mortgage credit in as a whole and financial services activities that increased by 18.4%.
He highlighted that all the lines of the credit portfolio have positive performances in his interannual evaluation.
As regards reserve coverage for delinquent or overdue loans, during the pandemic, the SBP mentioned that financial institutions increased their capacity to absorb losses due to future loan impairment. For this reason, it foresees that during 2023 the quality of the assets will continue to be controlled, even if the economic conditions are moderately weaker. However, he stressed that it has been seen that the level of coverage has been decreasing, as a result of the credit analyzes carried out by the entities.
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