An official report by the Superintendency of Banks of Panama (SBP) reveals that May this year the credit card debt in the domestic banking system is1.276 Billion.
According to the SBP there is an increase of 45 million compared to the balance reflected the beginning of this year.
At present, 28 banks offer their customers the opportunity to acquire a credit card.
Meanwhile, reports of the Authority for Consumer Protection and Defense of Competition ( acodeco ) indicate that the average lowest interest rate in the market for a credit card is 9%, while the highest is 26.99 %.
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