S&P upgrades Panama banking

STANDARD and Poor’s  Global Ratings has given a thumbs up to Panama’s banking industry, upgrading its risk outlook to stable,

The Ministry of Economy and Finance (MEF) released the news on Friday, June 23.

According to the S & P agency, the prospects for solid growth in the Panamanian economy have a

positive weffect  in the banking system, as well as in its operating results.

S & P’s decision is based on strengthening the regulatory framework and is based on the introduction of Basel III capital adequacy standards, fliquidity (to be adopted) and standards for the prevention of money laundering.

The rating agency indicated that the funding structures were not affected by the inclusion of the country in the Gray FAT list and the Waked Case.