The National Bank of Panama records a historic profit

He National Bank of Panama reached a record figure of 291.0 million dollars in profit. That’s the most on record in its 119-year history, with growth of 49.2% compared to $195.1 million in profits at the end of 2022.

Javier Carrizo Esquivel, General Manager of Banconal, said that it has been shown that the bank maintains the capacity to accept challenges and even overcome them.

“Our effective formula for achieving success is nothing more than the coordinated implementation of six maneuvers simultaneously covering all aspects of the institution that require a new approach,” said Carrizo.

In four years, Banconal achieved an increase in capital of 350.0 million dollars, which is equivalent to an increase of 54% since the beginning of the current administration.

Also, the bank’s operational efficiency index was 41.6%, one of the lowest in the system. The average is 51% as of September 2023.

While the bank’s capital return was 22.2%. Portfolio of loansMeanwhile, it amounts to 6445.5 million dollars, which is the largest amount in the history of the bank.

Of the total loan portfolio, the delinquency rate was 2.4%. The average of the banking system in November 2023 was 4.69 percent.

The loan portfolio of Financial Institutions and the Bank for Project Financing reached a balance of USD 549.4 million, which represents an increase of 18.0%, in contrast to the USD 465.4 million reported in the previous period.

In addition, Consumer Banking achieved a balance sheet of USD 3,563.0 million, reflecting a growth of 9.7% compared to the end of 2022, which was USD 3,248.9 million. In this sense, it can be noted that at the end of 2023, the bank once again broke the record in the number of mortgages paid out, reaching a total amount of 375.4 million dollars.

For its part, corporate banking achieved a balance ofand $698.8 million as of December 2023 managing to achieve a growth of 12.9%, compared to the $619.0 million realized at the end of 2022.