Panama's Banco General sees 5 percent growth in loans as construction slows

Panama's Banco General, one of the country's largest banks, expects its loan portfolio to grow by around 5 percent next year from 2010 as the residential construction sector slows while other segments expand at a faster pace.

"We think we're going to have moderate growth," the bank's chief executive, Raul Aleman, said.

Banco General is the main subsidiary of BG Financial Group, one of the top banking groups in the country alongside HSBC Holding's Panamanian unit. Its loan portfolio at the end of June was $5.51 billion.

Original source: Dow Jones