Credit Cards Grow 8.3% in Panama

Between January and March 2012 599.000 credit cards were issued in Panama, an increase of 8.3% compared to the same period in 2011.

Monday, May 14, 2012

Data from the Panamanian Credit Association (APC in Spanish), also indicated that the balance on the total number active credit cards was $1.081 million, 11% more than on the same date in 2011 when it was $973 million.

"The use of credit cards continues to increase steadily, in view of the credit facilities of this financial product or because of its non-cash means of payment," said Luz Maria Salamis, manager of the APC, to Panamaamerica.com.

More on this topic

Increased Number of Credit Cards in Panama

June 2013

In late May there were 673,590 active credit cards, while in the same period in 2012 there were 609,357.

The balance of active cards also showed an increase of 17% compared with May 2012, according to a Panamanian Credit Association (CPA). "The balance went from $1.1114 billion to $1.3008 billion in May 2013, which represents 3.8% of total credit balances reported in the database", reported Elsiglo.com.

Panama: New Credit Cards Down 58%

September 2009

In the first half of the year, 4.458 new credit cards were issued, 6.969 less than the same period of 2008.

Total credit lines granted under this scheme summed $11.2 million, 52% less than in 2008, and 74% less than in 2007, according to data from the Panamanian Credit Association (ACP). Average credit for each new credit card was $2.520.

New Card Issuances Fall 67% in Panama

June 2009

In the month of Abril 2009, 3,761 cards were granted, which is less that the 11,427 that were issued over the same period of last year.

According to what was reported by the Panamanian Association of Credit (APC), the new cards issued have a 63% smaller credit limit compared to the levels of April 2008.

The Salvadoran Credit Card Industry

November 2011

The Superintendency of Competition has presented a study on conditions of competition in the sector of credit and debit cards.

In El Salvador, credit and debit cards are becoming increasingly important as a means of payment, and in the case of credit have become one of the largest sources of consumer loans. The sector's growth has been such that its proper functioning has become systemically important.

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