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PRESENTATION PAGE

METROPOLITAN UNIVERSITY OF  EDUCATION, SCIENCE AND TECHNOLOGY
FACULTY OF ECONOMIC AND ADMINISTRATIVE SCIENCIE

BACHELOR DEGREE IN BANK AND FINANCE

ENGLISH LEVEL THREE
PROFESSOR:
MAGISTER VIELKA ITZEL CORNEJO ARDINES

UNIT V:
PADLET “PUBLIC AND PRIVATE BANKING IN PANAMA”

BY
• DANELIA RAMIREZ C0993485
• INGRITH MOJICA 9-758-1073

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TABLE OF CONTENS
•Introduction
•Private banks

Bac

Banistmo
General bank
•Public banks
Saving bank
Panama national bank
•Conclusion
•Webgraphies

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INTRODUCTION
The next work that we are going to present is a compilation of public banks and some private banks of Panama presented in a Padleth, we will be making a brief summary of their history, economic development and some services and products they offer, the objective of this work is  learn the use of technological tools that promote interaction between students to do school work, also increase our vocabulary in English focused on the career of banking and finance.

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SAVINGS BANK
HISTORY

The Savings Bank was created by Executive Decree No. 54 of June 15, 1934 by President Arnulfo Arias Madrid. It began activities on July 5 of the same year. “The Bank of the Panamanian Family”, ´represents from the beginning, in the lives of the nationals, the being of the entire Panamanian Banking System, the banking institution with the largest number of savings accounts in the entire country.

SERVICES AND PRODUCTS OFFERED

Deposit accounts

Checking or checking account

Safety boxes

International money orders

National transfers

Checkbooks

Cards (debit and credit)

Insurance banking

Loans and credits (auto, personal, pledge, mortgage).

ECONOMIC DEVELOPMENT
With a social vision aimed at promoting the good habit of saving, fulfilling the dreams of Panamanians through a home of their own, bringing banking services to all people without distinction and promoting the economic development of the country, Caja de Ahorros proudly celebrates 83 years of transcending through Panama.

The bank, which began operations on July 5, 1934 with a capital of just B / .150 thousand and with three collaborators, today at the end of May 2017, has assets that exceed B / .3,575 million, more than B /.1,450 million in its mortgage portfolio, total deposits with a balance of B /. 3,151 million and a wide network of 56 branches, 194 ATMs and 205 Caja Amiga, results that represent an important achievement within the National Banking System.

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PANAMA NATIONAL BANK
HISTORY

The history of the National Bank of Panama is closely linked to that of the Republic. Founded six months after the birth of the Republic as Banco Hipotecario y Prendario.
At the initiative of Deputy Don Rodolfo Chiari, President Manuel Amador Guerrero, promulgated Law 74 of June 13, 1904, which gave legal life to what would become the economic and financial arm of the nation.
With an initial capital of 500 gold pesos, it opened its doors to the public on October 12, 1904, with an austere staff. Its first managers, advisers and clients were some of the most respectable and prestigious heroes of independence. Beyond its initial mortgage duties, the bank carried out discount operations and received deposits from farmers, ranchers and industrialists, and was very strict with the requirement of granting guarantees from its clients. It offered loans that constituted the seed capital of the then incipient national development.
In 1911 the name was changed to Banco Nacional, and it was consolidated as the engine of internal productive growth, particularly in agriculture and livestock. By 1919 the first provincial branches were installed.
In 1956 it was declared as a State Bank, but with its own legal personality, with autonomous authority in its internal management and subject only to the surveillance and inspection of the Executive Branch and the Office of the Comptroller General of the Republic.

PRODUCTS AND SERVICES

Current accounts

Current savings

Deposits

Personal loans

Mortgage loans

Visa credit card

Debit card

ECONOMIC DEVELOPMENT

The entity indicates that microenterprises are those that have annual sales of up to B / .150 thousand and may receive credits up to B / .25 thousand. Meanwhile, small companies are understood to be those with annual sales of up to B / .1 million and may receive credits of up to B / .100 thousand. On the other hand, medium-sized companies are those with annual sales of up to B / .2.5 million and may receive credits up to B / .250 thousand.

The types of financing are: advance lines for financing of working capital to avoid bankruptcies of viable companies and Term loans for the recovery, improvement and maintenance of productive activity. At a maximum interest rate of 6%, with a term of up to 84 months.

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PRIVATE BANKS
BANISTMO
HISTORY

After an acquisition process, Banistmo was consolidated in Panama since October 28, 2013 with the strength and support of Grupo Bancolombia, a financial entity with 140 years of history in the market, a presence in ten countries and more than 40,000 employees.  .
Banistmo seeks to contribute to the fulfillment of the dreams of all the inhabitants of this country and be a promoter of the development of the communities in which it is present.  Their challenge is to build a different, more humane financial sector, in which all are key players.
Panama is a highly competitive market, with more than fifty general license banks in a country of four million inhabitants.  This influences the dynamics of customer consumption and the need to differentiate themselves and generate value propositions through topics such as service.  It should be said that, although the markets of Colombia and Panama are different, there are great opportunities to complement each other and generate value for customers.

PRODUCTS AND SERVICES
• Deposits.
• Debit Cards.
• Credit cards.
• Loans.
• Personal Insurance.
• Give yourself catalog.
• Real Estate Gallery.
• International transfers.

ECONOMIC DEVELOPMENT
Sustainability at Banistmo is a cross-cutting axis within the organization, with the intention of operating in an eco-efficient manner, seeking business and managing risks in a sustainable way, including our suppliers as strategic allies within our value chain and considering corporate citizenship as  one of our pillars.  We support the communities by focusing on education, environment and promotion of Panamanian culture and identity.
As part of our commitment to Sustainability from a social, economic and environmental point of view, we organized a space where Vincent had the opportunity to meet various projects of the Fundación Natura that, in addition to sharing his experience from the development of his filter to make water drinkable in a  sustainable, he was able to nurture his experience and share ideas and experiences for continuous improvement in the communities where he seeks to generate impacts.

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PRIVATE BANKS
GENERAL BANK
HISTORY

General Bank was founded in 1955 as the first private bank with Panamanian capital.  It was a subsidiary of the General Insurance Company.  In the 1970s the institution began to take off.  Over the years, purchases of banks and portfolios were made, until it became the largest private Panamanian bank in the square.
Banco General has been consolidating itself as an institution with a long-term vision, with a strategic growth that led it to obtain in 1997 the International Investment Grade by the Fitch Ratings and Standard and Poor's agencies, which has been ratified every year  till the date

SERVICES AND PRODUCTS OFFERED

• Savings account
• Current accounts.
• Combined Accounts
• International transfers
• Gift Certificates
• Management checks
• Direct Deposit US non-immigrant visa payments.
• Corporate banking
• Offers investment management
• On line bank
• Loans
• Pension funds
ECONOMIC DEVELOPMENT
Currently, the entity has more than 800,000 clients, 68 branches in Panama, more than five hundred ATMs around the country, Online Banking, Mobile Banking, customer service by telephone and extended hours, among many other services.
It also has a bank in Costa Rica and has representative offices in Mexico, Guatemala, El Salvador, Colombia and soon in Peru, and has 4,100 employees in Panama.
It is pending to find ways to facilitate its financial transactions for the client, which is why it is now promoting the Mobile Banking service, through which the client has access to their accounts and can make transactions from their cell phone 24 hours a day.

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PRIVATE BANKS
BAC CREDOMATIC
HISTORY

The beginnings of the BAC Credomatic Group go back more than half a century, when in 1952 the Bank of America was founded in Nicaragua.  However, it was not until the seventies when the credit card business was entered through the Credomatic companies.
In the mid-1980s, the Group decided to enter other markets in the region, starting with Costa Rica with the acquisition of what is now known as Banco BAC San José.  It was in the 1990s that the expansion to the other Central American markets took place, thus strengthening the Group's presence throughout the region, which continues to this day.
SERVICES AND PRODUCTS OFFERED
• Credit cards.
• Personal loans.
• Auto loan.  ...
• Savings account.
• Business affiliation
• Business account
• Business cards
• Payment methods

ECONOMIC DEVELOPMENT
At BAC Credomatic we give you the opportunity to develop and enhance your talents, innovate and contribute ideas to achieve your personal and professional success, as well as that of the organization and that of thousands of families and companies in the Region.
• We believe in the inclusion of all people in the economic cycle.
• Develop and empower the talents of our team to achieve personal and professional success throughout the Region.
• Innovation and leadership of our people has made us the largest Financial Group in the Region.

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The Panamanian banking system has currently consolidated at the national and Latin American level as one of the most solid, making great contributions to the economy of our country. Great efforts have been made to ensure that our banking center is not used for illicit activities.

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Bvideos, National bank

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WEBGRAPHIES
https://www.banistmo.com/wps/portal/banistmo/acerca-de/informacion-corporativa/quienes-somos

https://es.m.wikipedia.org/wiki/BAC_Credomatic
https://banconal.com.pa/index.php?option=com_content&view=article&id=58&Itemid=81&lang=es
https://www.cajadeahorros.com.pa/Paginas/inicio.aspx