New Panamanian Bank

The Panamanian Superintendent of Banks has a pending general license application for the opening of a new bank.

Wednesday, June 17, 2009

The request was submitted by a group funded with Panamanian capital and, as published in La Prensa which had access to view preliminary reports, the new finance company could be able to begin operations at the end of 2009.

This would be the third bank that is funded by Panamanian capital to enter the local banking system in the last year and a half. La Prensa adds in their article: “It is also known that several of the investors are related to the no longer existing Banistmo Group, which was sold two years ago to HSBC."

More on this topic

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.

Banesco Moves Headquarters to Panama

June 2014

The Venezuelan bank has moved its headquarters from Caracas to Panama City in order to manage, from there, the running of its branches in the other countries where it operates.

Dispelling rumors of a sale of its operations in Venezuela the government of Nicolas Maduro has announced that the entity will set up in Panama and from there coordinate activities in the 14 countries where it operates.

G&T Continental Expands in El Salvador

October 2010

The Guatemalan financial group plans to open 27 new branches next year in El Salvador.

Flavio Montenegro, General Manager, told Prensa Libre the group already has 23 branches, with the new openings it will consolidate presence in Salvadoran market.

"First, we will consolidate in El Salvador and then will start working in the other markets (Central America)," added the executive.

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).

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