The study was conducted in 2009 by the Panamanian Banking Superintendence and the Economy Ministry, to provide useful information for policy making.

It concluded that Panama must position itself in the Latin American market, by offering value-added services to specific segments.

Source: Superintendency of Banks of Panama

More on this topic

Credit Downwards: What Factors Affect Them?

August 2020

Suspension of contracts, uncertainty about the economic future and reduction of salaries, are some of the factors that have affected the banks in Panama to place fewer loans in this context of health crisis.

The amount of new loans granted by Panamanian banks was $589 million during May this year, a 26% reduction compared to what was reported in April 2020.

Panama Authorizes Chinese Bank License

June 2020

Panamanian authorities announced that the Industrial and Commercial Bank of China Ltd. was approved for a general license to operate in the local system.

The information was confirmed by the head of the Superintendency of Banks, Amauri Castillo, who explained that the Asian banking institution will be able to operate in Panama's financial center and do business in and from the national territory.

Local Banking Figures

October 2014

In the first half of the year profits in the banking system amounted to $900 million, a variation of -6.2% compared to the profits generated in the same period in 2013.

The Superintendency of Banks of Panama reported that this reduction is due to the loss of up to 14% in other income.

Société Generale Could Cease Panamanian Operations

June 2010

The reason would be Panama’s permanence in Fance’s tax-haven list, said the entity.

In a letter to the Panamanian Banking Superintendence (SBP), the banking institution explains that another reason would be the presence of Panama in the tax haven list of the Organization for Economic Co-Operation and Development.