November 7, 2017 |
Banco General edged out its peers this year, benefiting from the growing wealth of Panama’s middle class. Anticipating Panama’s 5% estimated economic growth in 2017 and 2018, Banco General registered a 7.4% increase in total assets to $16.9 billion in total assets at the end of June 2017, according to the bank’s latest financial statements. Close rival Global Bank closed June with $6.63 billion in total assets, up from $6.04 billion a year earlier, according to its reports. Banco General’s loan book grew $800 million, or 7.8%, to $11 billion for the year ended in June 2016. For the first six months of this year, Alemán says the bank reported net income of $202 million, a 14.5% year-on-yea
Panamanian lender leverages the strength of its home economy to grow total assets and revisit the international bonds and syndicated loan markets.