One of my favorite banks here in Panama, a National Bank, Caja de Ahorros has just posted that their loan portfolio grew by 236 Million this year, a growth of 12.5%. They have been here in Panama for 81 years and have 55 branches nationwide. Consumer loans have increased this year by 41.1%. The CEO of Caja de Ahorros, Mario A. B. Rojas said that "the results demonstrate the soundness of the institution and that they have the confidence of the Panamanian population, in their bank. I use their services a lot, as do many expats here, and the bank is top tier. There appears to always be at least one very good English speaking person in every branch that I have been to. It is known that they have awarded more than 40,000 mortgage loans because of their closeness to the people, through active participation in various fairs and institutional housing events. That allows them to offer all Panamanian and expat families, the opportunity to realize their desire to own a home. Caja de Ahorros has now entered the market of car loans. Banks have various functions………Caja de Ahorros, being a National Bank, does certain things very well such as mortgages, car loans, wire transfers, checking accounts etc. Caja de Ahorros translated roughly means the Savings Bank. Oddly enough, their savings accounts are not the best that you can find. The Federation Bank on the other hand, is where you can get the best bang for your buck, in high interest savings accounts. If you are wondering about where to bank, I have recommendations, and spread sheets to show you the different savings plans. E-mail me for further information [email protected]
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