(Panama America) The assets of the International Banking Center of Panama grew by 14.13% in the first quarter of 2011, to reach U.S. $ 73355.08 million, compared to 64,273.93 million reported in the same period of 2010, reported the Superintendency Bank of Panama (SBP).
Assets grew in the first three months of 9081.15 million dollars, compared with the same period last year, the SBP said in its executive summary, available on its website.
According to this document, liquid assets, in the mentioned period, down 3.40%, to 12555.24 million dollars in 2010, compared to 12,127.81 million in 2011.
Local deposits in banks fell 21.80% from 2271.38 million to U.S. $ 1776.28 million, while foreign deposits declined 0.85% from 9701 to 9618.28 million dollars.
In contrast, the loan portfolio increased by 21.37%, to 36.788.80 million to U.S. $ 44649.60 million in the same period.
Investment securities increased the 11.53%, to 12383.90 million U.S. $ 13,812.38 million, while in “other assets”, the report indicated a rise of 8.61%, to 2545.99 million in 2765, $ 29 million.
Regarding the SBP deposits reported an increase of 8.28%, to 48449.78 million (2010) to U.S. $ 52462.70 million (2011), among which increased 11.76% of foreign deposits, of 19,463.25 million in the first quarter of 2010 to 21,751.19 million in the same period this year.
In the first quarter, also the utility of the period stood at 393.24 million dollars, an increase of 74.53 million (23.39%) compared to 2010, when it reached 318.71 million dollars.
The International Banking Center of Panama, founded in the 70’s of last century, is currently composed of 78 banks, of which 27 are foreign.