New Bank Opens in Panama

Balboa Bank & Trust will open on May 31; it was recently authorized to operate by the Banking Superintendence.

Friday, May 28, 2010

The institution was born after Strategic Investors Group Inc. completed the purchase of 100% of the shares of Stanford Bank (Panama) S.A.

“Ramón Martínez Stagg, executive vice president and CEO of Balboa Bank & Trust, remarked that the bank has a solid financial structure and a robust service platform to grow in a sustainable way”, reported Panamá América.

¿Busca soluciones de inteligencia comercial para su empresa?



More on this topic

Panama: Interventions in Balboa Bank and Balboa Securities

May 2016

As a result of the inclusion of both companies in the "Clinton" list drawn up by the US Treasury Department, the respective Superintendents have ordered interventions.

For its part the Administration of Supervision and Regulation of Non-Financial Subjects activated special supervisions in non-financial companies which are listed by the OFAC as part of the network, in this case those operating in Colon Free Zone: Grupo Wisa, S.A., Vida Panama S.A., Servicio de Equipo Rodante Incorporado and Grupo Cima S.A., among others.

Peru’s Interbank Wants to Operate in Panama

February 2010

“Banco Internacional del Perú S.A.”, also known as Interbank, requested permission before the Panamanian Banking Superintendence to operate in the country.

The bank requested a temporary permit, in order to register in Panama as a foreign society. Then it will request an International Banking License to operate in the country.

Ecuadoran Banks sets up shop in Panama

September 2008

The Superintendence of Bank is processing the request for a General License from the Bolivarian Bank (Panama), a company that was organized and registered under Ecuadoran laws.

This will be the third Ecuadoran bank to enter the market in the last three years with a general license.

New bank to begin operations in El Salvador

September 2008

The Industrial Bank of El Salvador is completing the procedures at the Financial System Superintendence to formally become a bank.

According to the Superintendence, shareholders will hold 1% or more of the social capital of said company which is being created and includes: Banco Industrial S.A. (from Guatemala), Construagro S.A. (from El Salvador), y José Luis Zablah Touché (from El Salvador).

ok