New Banks Arrive in Panama

In the first six months of 2010, the Panamanian Banking Regulator (SBP) granted permits to six new operators.

Sunday, August 9, 2009

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

Amauri Castillo, SBP's secretary general, adds that the arrival of financial groups reflects Panama's rapid port development, which has converted it into a banking center.

More on this topic

Guatemalan Bank Ventures Into Panama

May 2016

From May Banco Industrial will be included in the list of entities that make up the Panamanian banking system.

The Superintendency of Banks in Panama granted to Banco Industrial de Guatemala a general license to operate in the banking system, starting with an initial capital of $20 million and "... 23 employees", reports

New Banks in Panama

February 2011

In 2010, nine new banks entered the banking sector in Panama.

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.

Panama: 5 New Banks Authorized to Operate

June 2010

In the first half of the year the Banking Superintendence (SBP) has authorized 5 banking institutions to operate in the country.

These are “Banca Privada D’Andorra S.A.”, “Banco Prival, S. A.”, “Banco Lafise Panamá, S. A.”, “Banco Internacional de Perú, S. A.” and “Banco La Hipotecaria, S. A.”.

12 Banks Request Licenses to Operate in Panama

April 2010

Panama’s banking superintendence is processing 12 requests by financial institutions to operate in the country.

These include Peru’s Interbank, La Hipotecaria S.A., Allbank Corp., as well as Venezuelan, Argentinean and Central American groups.

Under current law, General License Banks must pay a fixed yearly fee of $30.000 plus a variable sum of $35.000 per million in assets.

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