Banco Panameño de la Vivienda, S.A. (Banvivienda)

BANCO PANAMEÑO DE LA VIVIENDA (BANVIVIENDA), is a General License bank, operating in Panama. It was founded in 1981 by a group of investors of well-known success, and Grupo Aseguradora Mundial in the forefront. Its main activity is to render banking services such as Savings and Checking accounts, Fixed Rate Time Deposits, Personal Loans, Car Loans, and its specialty: Residential Mortgage Loans. Banvivienda takes care of its clients' credit requests in a large and varied range of projects located in different points of the city, including the West sector, constructed by promoters of great experience in the field. The management of the Bank follows a Strategic Plan that is updated annually according to the conditions of the surroundings, and to which a constant follow up is given. Banvivienda had a banner year in 2007. Within our strategic framework for regional expansion, we managed to extend our services at the local level by opening seven new branch offices in different locations throughout Panama. This investment has allowed us to close the year with a total of 21 branches and Customer Services Centers. This expansion program will continue for 2008 with the goal of adding eight more branch locations to our national service network. We archieved sustained growth in our main operations during 2007. Total assets increased by 87%; our loans portfolio, whose main product relates to residential mortgages, grew by 89%; net profits registered an important increase with respect to the previous year, and a significant growth of 81% in new deposits reveal our clients’confidence in the company. It is important to mention that Banvivienda increased its shareholder equity from US$38.0 million to US$ 77.0 million, wich represents an increase of 102%. Banvivienda carried out important investments in the IT division during 2007. For instance, we acquired a modern and efficient computer system to improve the quality of our services and make it possible to sustain the growth projected for the coming years. In addition, within the strategic framwork for regional expansion by means of purchase and participation in financial companies and services, Banvivienda acquired 100% of the shares of local pension fund manager Progreso, Administradora Nacional de Inversiones, Fondos de Pensiones y Cesantías. With an investment of this magnitude, the bank demostrates its advancement towards the diversification of its operations and the services offered to its clients. The participation in this new company is in addition to other susidiaries like Colfinanzas, a financial institution dedicated to offering personal loans mainle to retirees and pensioners; Mundial Factoring, a factoring company, and; Giros y Finanzas, a commercial finance company based in Colombia, with mor than 125 branch offices. The steps taken by Banviviend to maintain its policy of developing innovative and high quality products tailored to the needs of its clients, is the result of the commitment of its human resource, whom embody the spirit of service and take pride as collaborators of a banking institution that is an important part of the companies that is an important part of the companies that constitute Grupo Mundial

Address: Avenida Balboa, Calle 41 E, Bellavista. P.H. Panamá City, Panama

Phone: +507 300 4700
FAX: +507 300 1133