According to the Superintendence of Banks of Panama (SBP), domestic credit increased by 5.4% in July, compared to the results of 2017, due to the demand for personal and mortgage loans, and for consumption in credit cards.
The increase was recorded as follows:
- Personal loans 8.9%
- Mortgages 6.7%
- Private sector loans 5.4%
“The residential mortgage credit continues showing signs of increase since at the end of July 2018 it continues being one of the financings with greater demand since it shows an increase of 6.7% …”
– Superintendence of Banks of Panama, Bank Activity Report 2018.
Regarding the current situation, Moody’s Investors Service, announced last September, which foresees an increase in loans due in the banking sector of Panama due to the monetary policy of the United States.