Interest Rates and Delinquency Rates Rise as Credit Card Use in Panama Skyrockets
In Panama, there are over 876,000 credit cards issued by banks. As of the end of December 2025, the average credit card interest rate stood at 22.07%, higher than the 21.71% recorded in December 2024. According to the APC, the credit card balance closed at $2,972 million.
Credit cards have become an extension of resources to buy food, pay for essential expenses, and cover other commitments that can’t be met due to a lack of liquidity, in a context of increased pressure on household disposable income. This behavior occurs in a context where personal consumer credit grew 5.4% to a total outstanding balance of $15,121 million in the same period, driven not only by the use of cards, but also by the financing of durable goods such as vehicles with an 11.4% increase in the balance and personal loans that also reported an increase with 3.4%.
