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Canal Bank kicks off Panama operations

Thursday, October 2, 2014

A new player has arrived to Panama's banking sector, Canal Bank, aimed mainly at the microfinance sector.

The company entered Panama with capital worth $7 million, and expects to end the year with $10 million.

Canal Bank aims to offer 75 percent of its portfolio for microfinance, and the remaining 25 percent for general banking services, said the bank's general manager Carlos Barrios.

Source (in Spanish): Panamá América