Of these, four are local private banks, three have international license and two are foreign banking entities.
The new operations launched are Banco Lafise Panama (March 10), Bank of Nova Soctia (Panama) SA (Oct 10) Prival Bank (March 10), Balboa Bank & Trust Corp (May 10) Banco La Hipotecaria (June-October), Uni Baak & Trust Inc. (Dec-10), Andbanc (Feb-10), Banca Privada D'Andorra (April-October) and International Bank of Peru (May 10).
Swiss bankers have detected interesting sectors in the country to whom they can provide services and financing.
"Proof of this is that it is not only the banks USB, BSI and Merrill Lynch whose representative offices form part of the International Banking Center (CBI), but also at least another three new ones will soon implement projects in Panama," reported Capital.com.pa.
In the first six months of 2010, the Panamanian Banking Regulator (SBP) granted permits to six new operators.
The Panamanian Banking Regulator is now studying a further seven requests for upcoming approval.
"Foreign and mixed groups such as Banco Prival, Banca Privada D’Andorra, Banco Lafise Panamá, Banco Internacional de Perú and Banco La Hipotecaria have seen potential in the country," writes Capitales.com.