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Canalbank to expand portfolio as part of strategy following Banco Universal merger

aims to expand itsoverall portfolio by 20% to 25% as part of the changes in the bank's overallbusiness strategy following its acquisition of , Capital Financiero reported, citing CEORoberto Brenes.

The bankwill focus specifically on the portfolio allocated to the agricultural sector,saying that they seek to empower farmers to grow their businesses more, thereport said. With Canal Bank's merger with Banco Universal, the consumerportfolio, especially mortgage, becomes its strongest feature. However, theagricultural portfolio is considered "a jewel," Brenes said.

The CEOsaid they are moving "toward a new banking concept that adapts to the needsof the market and all Panamanians," noting that the merger process hasstrengthened their position and support for the growth of the bank.