The National Bank of Panama will allocate more than 50% of your 2024 budget investments, giving priority to credit placements aimed mainly at the private sector.
The banking entity supported the budget for the next year of 2,399.7 million dollars, of which 1,851.3 dollars will be intended for investments through the placement of these loans.
The general manager, Javier Carrizo Esquivel, explained that the total investment is expected to be profitable 1,788.7 million dollars in credit placementswhich means 74.5% of the total budget.
“This budget allows the bank to support growth the Panamanian economy, in a sustainable way“, said Carrizo Esquivel.
The National Bank is an official entity that generates its own income. An amount of 548.4 million dollars is foreseen for the operating line.
While the main increase was recorded in the line of financial expenses, as a result of the increase in interest rates.
While for the execution of other investments, such as works, construction and equipment, 62.6 million dollars is foreseen.
“As of July 31, 2023, Banconal has total assets of USD 14,084.2 million, with a total loan portfolio of USD 6,511.9 million, total deposits of USD 10,974.9 million, liabilities of USD 1,480.6 million, other liabilities of $332.5 million and a capital fund of $1,296.2 million,” Carrizo noted.
The manager added that the profit to date is 173.0 million dollars.
Carrizo added that all the efforts they make as a team are framed in their strategic map.
Source: Panama America
I am Jason Root, author with 24 Instant News. I specialize in the Economy section, and have been writing for this sector for the past three years. My work focuses on the latest economic developments around the world and how these developments impact businesses and people’s lives. I also write about current trends in economics, business strategies and investments.
