Panama sees limited risk from US, European bank problems

PANAMA CITY (Reuters) – Panama’s risk of contagion from banking woes in the United States and Europe is “very limited”A representative of SBP, the banking regulator, stated that local lenders are not exposed to interbank deposits and other investments.

“We can count on a very solid banking system,” Amauri Castillo was the SBP superintendent at a conference held in Panama City.

Panama’s international bank center (CBI), which had assets of $140 billion as of the end last year, was up 5% compared to 2021.

Castillo stated that all key variables were present last week when Castillo presented 2022 results. “robust,” These include solvency, sufficient capital, and liquidity levels. Results showed profits rose 45% over 2021, placing them ahead of pre-pandemic levels.

Panama’s national bank system reported at the end of last-year a capital adequacy rate of 15.34%, and a liquidity ratio of 57%.

(Reporting by Migro Vallecillos; Writing and Editing by Sarah Morland; Editing and editing by Anthony Esposito, David Gregorio

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