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Thread: Panama Banks - Complete List

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    Panama Banks - Complete List

    How many banks are there in Panama? Some publications say more than 100, others more than 200. But in reality there are "only" 75 banks in Panama. That number includes:
    • 2 official government owned banks.
    • 41 banks with a General (Full) Banking License. These banks are Class A banks authorized to do business with clients from all over the world, including Panama.
    • 36 banks with an International (Offshore) Banking License. These banks are Class B banks authorized to do business with clients from all over the world, not including Panama.
    Note: 4 banks have both a General and International Banking License. Therefore the total number is only 75.

    This list is updated once a month.


    Government-Owned Banks

    Banco Nacional de Panamá
    http://www.banconal.com.pa

    Slogan: N/A
    Date: 12/10/1904
    Address: Torre Banconal, Via España y Calle 55
    Branches: 62
    Employees: 2542
    Capital: $500,000,000.00
    Country of Origin: Panama
    Phone: +507 505-2000

    Caja de Ahorros
    http://www.cajadeahorros.com.pa

    Slogan: El Banco de la Familia Panameña (The Bank of the Panamanian Family)
    Date: 05/07/1934
    Address: Via España y Avenida Manuel Espinoza
    Branches: 42
    Employees: 1596
    Capital: $97,084,902.62
    Country of Origin: Panama
    Phone: +507 508-1000


    Banks With A Full Banking License

    BAC International Bank, Inc.
    http://www.bac.net

    Slogan: Valores como los tuyos. (Your values are our values)
    Comment: The bank is originally from Nicaragua and has representations in that country as well as Guatemala, El Salvador, Honduras, Costa Rica, Panama and USA. In Panama since 1995.
    Date: 25/08/1995
    Address: Calle Aquilino de la Guardia, Edificio BAC Credomatic
    Branches: 10
    Employees: 642
    Capital: $113,565,253.87
    Country: Nicaragua
    Phone: +507 206-2700

    Bancafé (Panamá), S.A.
    http://www.bancafe-pa.com

    Slogan: N/A
    Comment: The bank started out in the Colon Free Zone in 1966 and now has offices in Panama City, Colombia and Miami.
    Date: 11/12/1966
    Address: Ave. Manuel Maria Icaza, Calle 52 Este No. 18, Campo Alegre
    Branches: 1
    Employees: 53
    Capital: $23,100,000.00
    Country of Origin: Colombia
    Phone: +507 264-6066

    Banco Aliado, S.A.
    http://www.bancoaliado.com

    Slogan: Más que un banco, un aliado... (More than a bank... an ally)
    Comment: In business since 1992, initially focused on Free Zone related financing but now a full service bank.
    Date: 14/07/1992
    Address: Calle 50 y 56, Paitilla
    Branches: 1
    Employees: 93
    Capital: $80,000,000.00
    Country of Origin: Panama
    Phone: +507 302-1555

    Banco Azteca (Panamá), S.A.
    http://www.bancoazteca.com.pa

    Slogan: Cambiamos la banca, cambia tú tambien. (We changed banking, so why don't you change/switch too?)
    Comment: A subsidiary of Grupo Elektra and Grupo Salinas from Mexico. In Panama since 2005.
    Date: 01/03/2005
    Address: Calle Jorge Zarak, Plaza Americana, Local 2
    Branches: 6
    Employees: 401
    Capital: $18,030,000.00
    Country of Origin: Mexico
    Phone: +507 278-7400

    Banco Bilbao Vizcaya Argentaria (Panamá), S.A. (BBVA)
    http://www.BBVAPanama.com

    Slogan: adelante. (Onward.)
    Comment: BBVA is from Spain and has representations all over Latin America. In Panama since 1995.
    Date: 01/07/1983
    Address: Calle 42 y Avenida Balboa
    Branches: 15
    Employees: 284
    Capital: $28,700,000.00
    Country of Origin: Spain
    Phone: +507 207-2100
    Note: Foreigners interested in opening an account need a banking reference from (and existing account with) any other BBVA in the world.

    Banco Continental de Panamá, S.A.
    Has merged with Banco General (see below).

    Banco Cuscatlán de Panamá, S.A.
    http://www.bancocuscatlan.com

    Slogan: El banco para mentes sin fronteras. (The bank for borderless minds.)
    Comment: Banco Cuscatlan is from El Salvador and has expanded to Guatemala, Honduras, Costa Rica and Panama. In Panama since 2003.
    Date: 09/06/2003
    Address: Calle 50, Edificio Cuscatlan
    Branches: 20
    Employees: 515
    Capital: $42,000,000.00
    Country of Origin: El Salvador
    Phone: +507 208-8300

    Banco Delta, S.A. (BMF)
    http://www.bandelta.com

    Slogan: Creciendo Contigo. (Growing with you.)
    Comment: In buisness since 2006, focused on microfinance.
    Date: 01/07/2006
    Address: Via España 122 y Calle Elvira Mendez, Edificio Torre Delta, Planta Baja
    Branches: 1
    Employees: 135
    Capital: $5,442,325.05
    Country of Origin: Panama
    Phone: +507 340-0000

    Banco de Bogotá, S.A.
    http://www.bancodebogotainternacional.com

    Slogan: N/A
    Comment: Originally from Colombia, this bank has expanded to New York, Miami, the Bahamas and Panama. In Panama since 1967.
    Date: 15/08/1967
    Address: Avenida Balboa y Via Italia, Centro Comerical Plaza Paitilla, Local 5
    Branches: 1
    Employees: 43
    Capital: $18,501,725.00
    Country of Origin: Colombia
    Phone: +507 208-1100

    Banco de Guayaquil (Panamá), S.A.
    http://www.bancoguayaquil.com

    Slogan: N/A
    Date: 20/12/1923
    Address: Details coming soon
    Branches: Details coming soon
    Employees: Details coming soon
    Capital: Details coming soon
    Country of Origin: Details coming soon
    Phone: Details coming soon

    Banco Pichincha Panamá, S.A.
    http://www.pichinchapanama.com

    Slogan: En confianza, siempre. (Always in trust.)
    Was founded on 11 april, 1906 in Ecuador.
    Date: 05/06/2006
    Address: Torre Banco General, Marbella, Piso 23
    Branches: 1
    Employees: 6
    Capital: $21,000,000.00
    Country of Origin: Ecuador
    Phone: +507 264-7448

    Banco General, S.A.
    http://www.bgeneral.com

    Slogan: N/A
    Date: 01/04/1955
    Address: Calle Aquilinio de la Guardia, Torre Banco General, Marbella
    Branches: 56
    Employees: 2550
    Capital: $547,500,000.00
    Country of Origin: Panama
    Phone: +507 303-5001

    Banco Internacional de Costa Rica, S.A. (BICSA)
    http://www.bicsapan.com

    Slogan: Somos su equipo. (We are your team.)
    Date: 20/09/1976
    Address: Calle Manuel Maria Icaza 25
    Branches: 1
    Employees: 170
    Capital: $65,000,000.00
    Country of Origin: Costa Rica
    Phone: +507 208-9500

    Banco Latinoamericano de Exportaciones, S.A. (BLADEX)
    http://www.blx.com

    Slogan: una Trayectoria, un Compromiso, una Vision (a Track Record, a Commitment, a Vision)
    Date: 02/01/1979
    Address: Calle 50 y Aquilinio de la Guardia
    Branches: 0
    Employees: 181
    Capital: $281,418,007.88
    Country of Origin: Multinational
    Phone: +507 210-8500

    Banco Panameño de la Vivienda, S.A. (BANVIVIENDA)
    http://www.banvivienda.com

    Slogan: N/A
    Date: 08/04/1981
    Address: Calle 41 y Avenida Balboa, P.H. Aseg. Mundia, Bella Vista
    Branches: 17
    Employees: 456
    Capital: $61,311,762.00
    Country of Origin: Panama
    Phone: +507 300-4700

    Banco Trasatlántico, S.A.
    http://www.bancotrasatlantico.com

    Slogan: N/A
    Date: 18/05/1979
    Address: Calle Manuel Maria Icaza y Ricardo Arias
    Branches: 3
    Employees: 32
    Capital: $20,000,000.00
    Country of Origin: Panama
    Phone: +507 269-2318

    Banco Universal, S.A.
    http://www.bancouniversal.com

    Slogan: N/A
    Date: 01/12/1994
    Address: Calle B. Norte y Avenida 1era Este, David, Chiriqui
    Branches: 7
    Employees: 110
    Capital: $10,000,000.00
    Country of Origin: Panama
    Phone: +507 775-4394

    Banco Uno, S.A.
    http://www.bancouno.com.pa

    Slogan: Una sola Región, una sola Red Financiera. (One Region, one Financial Network)
    Date: 24/08/1994
    Address: Calle 50 y 84 Via Israel, San Francisco
    Branches: 17
    Employees: 690
    Capital: $42,194,000.00
    Country of Origin: Nicaragua
    Phone: +507 270-5899

    Banesco Banco Universal, C.A.
    http://www.banesco.com

    Slogan: N/A
    Date: 06/11/1974
    Address: Avenida Samuel Lewis, Torre HSBC,iso 1
    Branches: 1
    Employees: 7
    Capital: $25,507,522.43
    Country of Origin: Venezuela
    Phone: +507 264-9133

    Banesco, S.A.
    http://www.banesco.com

    Slogan: N/A
    Date: 05/02/2007
    Address: Calle Aquilinio de la Guardia y Calle 47
    Branches: 7
    Employees: 273
    Capital: $12,000,000.00
    Country of Origin: Venezuela
    Phone: +507 282-2000

    Bank Leumi Le-Israel, B.M.
    Slogan: N/A
    Date: 02/10/1982
    Address: Calle Manuel Maria Icaza, Edificio Grobman No. 10, Campo Alegre
    Branches: 0
    Employees: 19
    Capital: $10,000,094.74
    Country of Origin: Israel
    Phone: +507 263-9377

    Bank of China Limited
    Slogan: N/A
    Date: 18/07/1994
    Address: Calle Manuel Maria Icaza No. 14
    Branches: 1
    Employees: 16
    Capital: $11,060,000.00
    Country of Origin: Republica Popular China
    Phone: +507 263-5522

    BNP Paribas Sucursal Panamá
    http://www.bnpparibas.com.pa

    Slogan: The bank for a changing world
    Date: 31/12/1975
    Address: Via España 200
    Branches: 0
    Employees: 117
    Capital: $10,000,000.00
    Country of Origin: France
    Phone: +507 263-6600

    BNP Paribas Private Bank, Sucursal Panamá
    http://www.bnpparibas.com.pa

    Slogan: The bank for a changing world
    Date: 30/01/2006
    Address: Via España 200
    Branches: 1
    Employees: 45
    Capital: $10,000,000.00
    Country of Origin: France
    Phone: +507 264-8555

    Capital Bank, Inc.
    http://www.capitalbank.com.pa

    Slogan: N/A
    Date: 02/01/2008
    Address: Calle 50, Edificio PH Global Plaza, Planta Baja, No. 1
    Branches: 1
    Employees: 27
    Capital: $11,400,000.00
    Country of Origin: Panama
    Phone: +507 209-7000

    Citibank, N.A.
    http://www.citibank.com.pa

    Slogan: N/A
    Date: 17/08/1904
    Address: Calle 50, Edificio Plaza Panama, Piso 11
    Branches: 4
    Employees: 204
    Capital: $10,553,940.14
    Country of Origin: United States
    Phone: +507 210-5900

    Credicorp Bank, S.A.
    http://www.credicorpbank.com

    Slogan: Cuenta con nosotros. (Count on us.)
    Date: 03/06/1993
    Address: Plaza Credicorp Bank, Avenida Nicanorde, Obrarrio
    Branches: 17
    Employees: 379
    Capital: $24,050,000.00
    Country of Origin: Panama
    Phone: +507 210-1111

    Global Bank Corporation
    http://www.globalbank.com.pa

    Slogan: N/A
    Date: 30/06/1994
    Address: Calle 50, Torre Global Bank
    Branches: 25
    Employees: 803
    Capital: $87,654,136.92
    Country of Origin: Panama
    Phone: +507 206-2000

    HSBC Bank (Panamá), S.A.
    http://www.pa.hsbc.com

    Slogan: Su banco donde quiera, cuando quiera (Banking when you want, where you want)
    Date: 01/08/2004
    Address: Avenida Aquilinio de la Guardia y Calle 47 Este, Marbella
    Branches: 19
    Employees: 878
    Capital: $1,287,465,522.93
    Country of Origin: Netherlands
    Phone: +507 263-5855

    Korea Exchange Bank, Ltd.
    http://www.koexbank.com

    Slogan: N/A
    Date: 10/12/1980
    Address: Edificio Torre Global Bank y Calle 50, Piso 19, Obarrio
    Branches: 0
    Employees: 11
    Capital: $10,000,000.00
    Country of Origin: Republic of Korea
    Phone: +507 340-3360

    Mega International Commercial Bank Co. Ltd.
    http://www.megabank.com.tw

    Slogan: N/A
    Date: 01/08/1974
    Address: Calle 50 y Esquina Margarita de Vallarino Edificio ICBC No. 74
    Branches: 1
    Employees: 48
    Capital: $10,000,000.00
    Country of Origin: Republica de China (Taiwan)
    Phone: +507 263-8108

    Metrobank, S.A.
    http://www.metrobanksa.com

    Slogan: N/A
    Date: 12/12/1991
    Address: Torre Metro Bank P.B. Punta Pacifica Cl Pta Coronado
    Branches: 1
    Employees: 62
    Capital: $50,000,000.00
    Country of Origin: Panama
    Phone: +507 204-9000

    MiBanco, S.A. B.M.F
    http://www.mibancopanama.com

    Slogan: ¿Tambien tienes tu sueño? Juntos lo haremos realidad. (Do you too have your dream? Together we'll turn it into reality.)
    Date: 02/01/1998
    Address: Avenida Principal, Calle E, Edificio Mi Banco
    Branches: 6
    Employees: 53
    Capital: $3,891,603.00
    Country of Origin: Panama
    Phone: +507 274-0242

    MMG Bank Corporation
    http://www.mmgbank.com

    Slogan: N/A
    Date: 31/03/2003
    Address: Calle 53, MMG Tower, Piso 11, Marbella
    Branches: 0
    Employees: 47
    Capital: $10,000,000.00
    Country of Origin: Panama
    Phone: +507 265-7600

    Multi Credit Bank, Inc.
    http://www.multibank.com.pa

    Slogan: Creando Valor. Siempre. (Creating Value. Always.)
    Date: 28/03/1990
    Address: Via España E. Prosperidad
    Branches: 14
    Employees: 494
    Capital: $98,749,000.00
    Country of Origin: Panama
    Phone: +507 294-3500

    Primer Banco del Istmo, S.A. (BANISTMO)
    http://www.banistmo.com

    Slogan: N/A
    Date: 07/09/1984
    Address: Calle 50, 77 Este, San Francisco
    Branches: 37
    Employees: 1507
    Capital: $577,323,112.20
    Country of Origin: Panama
    Phone: +507 270-0015

    Produbank (Panamá), S.A.
    http://www.produbank.com

    Slogan: N/A
    Date: 03/04/2006
    Address: Avenida Aquilinio de la Guardia y Calle 47 Este, Edificio Ocean Business Plaza
    Branches: 0
    Employees: 8
    Capital: $20,000,000.00
    Country of Origin: Ecuador
    Phone: +507 269-5564

    St. Georges Bank & Company, Inc.
    http://www.stgeorgesbank.com

    Slogan: N/A
    Date: 16/11/2004
    Address: Calle 50 y 74 Este, Edificio P.H. St. Georges Bank and Company, Piso 11
    Branches: 13
    Employees: 355
    Capital: $21,500,000.00
    Country of Origin: Nicaragua
    Phone: +507 322-2022

    Stanford Bank (Panamá), S.A.
    http://www.stanfordbankpanama.com

    Slogan: Performance. Stability. Opportunity.
    Date: 25/08/2003
    Address: Torre Generali, Piso 19, Avenida Samuel Lewis y Calle 54, Obarrio
    Branches: 2
    Employees: 49
    Capital: $28,424,229.36
    Country of Origin: United States
    Phone: +507 208-7300

    The Bank of Nova Scotia (SCOTIABANK)
    http://www.scotiabank.com

    Slogan: N/A
    Date: 31/10/1974
    Address: Avenida Frederico Boyd y Calle 51
    Branches: 3
    Employees: 145
    Capital: $10,000,000.00
    Country of Origin: Canada
    Phone: +507 208-7700

    Towerbank International, Inc.
    http://www.towerbank.com

    Slogan: Hacemos la diferencia (We make the difference)
    Date: 14/10/1971
    Address: Calle 50 y Beatriz M. de Cabal, Edificio Tower Plaza
    Branches: 1
    Employees: 137
    Capital: $50,800,000.00
    Country of Origin: Panama
    Phone: +507 269-6900


    Banks With An International Banking License

    Atlantic Security Bank Sitio Web
    http://www.asbnet.com.pa

    Slogan: N/A
    Date: 19/09/1984
    Address: PH Plaza Banco General Piso 28 y 29
    Branches: 0
    Employees: 71
    Capital: $3,000,000.00
    Country of Origin: Cayman Islands
    Phone: +507 215-7311

    Austrobank Overseas (Panamá), S.A.
    http://www.austrobank.com

    Slogan: Keep it SAVE
    Date: 16/08/1995
    Address: Calle 53, Este Marbella, Torre Morgan & Morgan, Planta Baja
    Branches: 0
    Employees: 52
    Capital: $3,000,000.00
    Country of Origin: Ecuadro
    Phone: +507 223-4455

    BAC Bank, Inc.
    http://www.bac.net

    Slogan: Valores como los tuyos (Values like yours)
    Date: 01/02/2003
    Address: Aquilinio de la Guardia, Edificio BAC
    Branches: 0
    Employees: 10
    Capital: $10,000,000.00
    Country of Origin: Panama
    Phone: +507 206-2719
    Note: This bank also has a General License (under the name of BAC International Bank, Inc.)

    Bancafé (Panamá), S.A.
    http://www.bancafe-pa.com

    Slogan: N/A
    Date: 03/05/1988
    Address: Avenida Manuel Maria Icaza, Calle 52 Este No. 18, Campo Alegre
    Branches: 1
    Employees: 1
    Capital: $6,000,000.00
    Country of Origin: Colombia
    Phone: +507 264-6066
    Note: This bank also has a General License

    Banco Agrícola (Panamá), S.A.
    http://www.bancoagricolapanama.com

    Slogan: Uniendo sus transacciones (Unifying your transactions)
    Date: 14/03/2002
    Address: Edificio Global Bank No. 17, Local E y F, Calle 50
    Branches: 0
    Employees: 4
    Capital: $30,000,000.00
    Country of Origin: El Salvador
    Phone: +507 263-5762

    Banco Corfivalle (Panamá), S.A.
    Slogan: N/A
    Date: 15/12/2004
    Address: Calle 50, PH Global Plaza, Piso 9, Bella Vista
    Branches: 0
    Employees: 9
    Capital: $6,019,000.00
    Country of Origin: Colombia
    Phone: +507 263-9272

    Banco de Bogotá, S.A.
    http://www.bancodebogotainternacional.com

    Slogan: N/A
    Date: 21/04/1988
    Address: Avenida Balbia y Via Italia, Centro Comercial Plaza Paitilla, Local 5
    Branches: 0
    Employees: 43
    Capital: $17,637,400.00
    Country of Origin: Colombia
    Phone: +507 208-1100
    Note: This bank also has a General License

    Banco de Crédito del Perú
    http://www.viabcp.com.pe

    Slogan: N/A
    Date: 25/07/2002
    Address: Torre Banco Continental, Piso 28
    Branches: 0
    Employees: 10
    Capital: $3,000,000.00
    Country of Origin: Peru
    Phone: +507 215-7815

    Banco de Crédito Helm Financial Services (Panamá), S.A.
    http://www.bancodecredito.com.pa

    Slogan: More than a bank
    Date: 15/04/1998
    Address: Calle 53 Este Marbella, Edificio World Trade Center, Piso 19
    Branches: 0
    Employees: 20
    Capital: $14,687,000.00
    Country of Origin: Colombia
    Phone: +507 265-2820

    Banco de Finanzas (Internacional), S.A.
    Slogan: N/A
    Date: 20/11/1997
    Address: Calle Aquilinio de la Guardia, Edificio Torre Banco General, Piso 25
    Branches: 0
    Employees: 8
    Capital: $3,000,000.00
    Country of Origin: Panama
    Phone: +507 223-6588

    Banco de la Nación Argentina

    Slogan: N/A
    Date: 01/09/1977
    Address: World Trade Center, Piso 5, Oficina 501
    Branches: 0
    Employees: 23
    Capital: $3,000,000.00
    Country of Origin: Argentina
    Phone: +507 269-4666

    Banco de Occidente (Panamá), S.A.
    http://www.bancoccidente.com.pa

    Slogan: N/A
    Date: 30/06/1982
    Address: Calle 50 y Aquilinio de la Guardia, Edificio American Intl
    Branches: 0
    Employees: 26
    Capital: $12,770,596.49
    Country of Origin: Colombia
    Phone: +507 263-8144

    Banco del Centro, S.A.
    Slogan: N/A
    Date: 16/03/1978
    Address: Via España 120, Piso 3
    Branches: 0
    Employees: 5
    Capital: $15,100,000.00
    Country of Origin: Venezuela
    Phone: +507 223-5062

    Banco del Pacífico (Panamá), S.A.
    http://www.bancodelpacifico.com.pa

    Slogan: Nuestro servicio hace la differencia (Or service makes the difference)
    Date: 07/07/1980
    Address: Calle Aquilinio de la Guardia y Calle 52
    Branches: 0
    Employees: 16
    Capital: $11,325,900.00
    Country of Origin: Ecuador
    Phone: +507 263-5833

    Banco Internacional Altas Cumbres, S.A.
    Slogan: N/A
    Date: 03/01/2005
    Address: Calle 72 Este San Francisco, Edificio Anfra
    Branches: 0
    Employees: 5
    Capital: $4,560,844.65
    Country of Origin: Panama
    Phone: +507 270-3044

    Banco Internacional de Costa Rica, S.A. (BICSA)
    http://www.bicsapan.com

    Slogan: Somos su equipo. (We're your team.)
    Date: 20/09/1976
    Address: Calle Manuel Maria Icaza 25
    Branches: 0
    Employees: 170
    Capital: $65,000,000.00
    Country of Origin: Costa Rica
    Phone: +507 208-9500

    Banco Lafise Panamá S.A.
    http://www.bancolafisepanama.com

    Slogan: N/A
    Date: 01/11/2006
    Address: Torre Global Bank, Piso 37, Area Bancaria
    Branches: 0
    Employees: 29
    Capital: $5,000,000.00
    Country of Origin: Panama
    Phone: +507 340-9400

    Banco Santander (Panamá), S.A.
    http://www.bancosantander.com.pa

    Slogan: N/A
    Date: 01/08/1973
    Address: Torre ADR, Avenida Samuel Lewis
    Branches: 0
    Employees: 5
    Capital: $3,942,100.00
    Country of Origin: Spain
    Phone: +507 264-7678

    Bancolombia (Panamá), S.A.
    http://www.bancolombiapanama.com

    Slogan: Llegó el momento de crecer (The moment for growth has arrived)
    Date: 26/04/1973
    Address: Plaza Marbella, Calle Aquilinio de la Guardia y Calle 47
    Branches: 0
    Employees: 68
    Capital: $14,000,000.00
    Country of Origin: Colombia
    Phone: +507 263-6955

    Banex International Bank Corp.
    http://www.banexinternational.com

    Slogan: N/A
    Date: 01/02/2002
    Address: Torre ADR, Oficina 6-D, Avenida Samuel Lewis y Calle 58, Bella Vista
    Branches: 1
    Employees: 3
    Capital: $8,000,000.00
    Country of Origin: Guatemala
    Phone: +507 263-5936

    BCT Bank International, S.A.
    http://www.corporacionbct.com

    Slogan: N/A
    Date: 16/09/2002
    Address: Calle Aquilinio de la Guardia, Torre Banco General, Piso 15, Oficina No. 1502
    Branches: 0
    Employees: 6
    Capital: $25,000,000.00
    Country of Origin: Costa Rica
    Phone: +507 269-9565

    BHD International Bank (Panamá), S.A.
    Slogan: N/A
    Date: 15/12/2006
    Address: Edificio Torre Global, Calle 50
    Branches: 0
    Employees: 6
    Capital: $5,000,000.00
    Country of Origin: Dominican Repubic
    Phone: +507 340-9200

    Blubank, Ltd.
    http://www.blubank.net

    Slogan: N/A
    Date: 08/01/1997
    Address: Ave. Aquilinio de la Guardia, Edificia Torre Banco General, Piso 16
    Branches: 0
    Employees: 35
    Capital: $3,000,000.00
    Country of Origin: Bahamas
    Phone: +507 265-7300

    Banco Colpatria-Red Multibanca Colpatria, S.A., Sucursal Panamá
    http://www.colpatria.com

    Slogan: Para eso estamos (That's why we exist.)
    Date: 08/05/2005
    Address: World Trade Center, Oficina 1501
    Branches: 0
    Employees: 8
    Capital: $3,570,000.00
    Country of Origin: Colombia
    Phone: +507 301-0717

    ES Bank (Panamá), S.A.
    http://www.gespanama.com

    Slogan: N/A
    Date: 01/03/2002
    Address: World Trade Center, Piso 19, Oficina 1902, Calle 53
    Branches: 0
    Employees: 4
    Capital: $30,000,000.00
    Country of Origin: Portugal
    Phone: +507 Portugal

    FPB International Bank Inc.

    Slogan: N/A
    Date: 16/05/2005
    Address: Calle 50 y Aquilinio de la Guardia, Edificio Banco Continental, Piso 16
    Branches: 0
    Employees: 9
    Capital: $10,000,000.00
    Country of Origin: Brazil
    Phone: +507 210-6600

    First Central International Bank
    http://www.firstcentralib.com

    Slogan: Tiene para usted (Has it for you)
    Date: 15/06/2005
    Address: Torre Generali, Piso 23, Oficina 23 D, Ave. Samuel Lewis
    Branches: 0
    Employees: 8
    Capital: $3,750,000.00
    Country of Origin: Panama
    Phone: +507 264-7336

    GNB Sudameris Bank, S.A.
    http://www.gnbsudameris.com

    Slogan: N/A
    Date: 15/09/1970
    Address: Area Bancaria, Calle Manuel Maria Icaza No. 19
    Branches: 0
    Employees: 10
    Capital: $13,000,000.00
    Country of Origin: United Kingdom
    Phone: +507 206-6900

    GTC Bank, Inc.
    http://www.gytcontinental.com.gt

    Slogan: N/A
    Date: 22/06/2001
    Address: Calle 53 Este, World Trade Center, Oficina 203
    Branches: 0
    Employees: 82
    Capital: $45,356,000.00
    Country of Origin: Guatemala
    Phone: +507 265-7371

    International Union Bank, S.A.
    http://www.iubank.com

    Slogan: N/A
    Date: 20/07/1981
    Address: Torre Las Americas, Piso 8, Oficina 805, Punta Pacifica
    Branches: 0
    Employees: 3
    Capital: $4,000,000.00
    Country of Origin: Venezuela
    Phone: +507 204-5730

    Natixis
    http://www.natixis.com

    Slogan: N/A
    Date: 03/09/2007
    Address: Calle 50, Edificio Torre Global, Piso 26
    Branches: 0
    Employees: 13
    Capital: $8,000,000.00
    Country of Origin: France
    Phone: +507 206-6400

    Popular Bank Ltd., Inc.
    http://www.popularbank.com.pa

    Slogan: N/A
    Date: 16/08/1983
    Address: Edificio Banco General, Piso 20, Marbella
    Branches: 0
    Employees: 23
    Capital: $35,400,000.00
    Country of Origin: Dominican Republic
    Phone: +507 264-4166

    Scotiabank Perú, S.A.A. Sucursal Panamá
    http://www.scotiabank.com.pe

    Slogan: N/A
    Date: 09/09/2006
    Address: Torre Banco Continental, Piso 30
    Branches: 0
    Employees: 4
    Capital: $3,000,000.00
    Country of Origin: Peru
    Phone: +507 215-7820
    Note: Scotiabank also has a General License under the name of "The Bank of Nova Scotia"

    TAG Bank, S.A.
    Slogan: N/A
    Date: 01/02/2006
    Address: Calle 53, Marbella, MMG Tower, Piso 6
    Branches: 0
    Employees: 4
    Capital: $9,983,251.61
    Country of Origin: Brazil
    Phone: +507 294-1300


    Opening an Offshore Bank Account in Panama

    Offshore banking and opening an offshore bank account in Panama is easier than it sounds, but not as simple as it used to be.

    Many Panama banks do open non-resident bank accounts for foreigners, but if you don't live in the country it's a bit more difficult and can take a relatively long time (several weeks or even months). Typical account opening requirements for non-residents include two bank references from your home country, as well as two professional references and two personal references, preferably from within Panama.

    You can contact Panama banks directly, but things often move more smoothly if you go through a lawyer or an existing client of the bank who can introduce you to an account representative.

  2. The Following 3 Users Say Thank You to PanamaForum.com For This Useful Post:

    Donnyboy (02-08-2012), Pat (09-12-2011), TMMCLAUGH (05-27-2009)

  3. #2
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    Very interesting, I thought Panama had hundreds of banks but it's only 75!

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    This website claim to Edificio Global Bank please any one in Panama contact this bank and report this website to prevent they scam everyone
    http://viptraders.com/?a=cust&page=aboutus

  5. #4
    Senior Member Array Panamax's Avatar
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    Nice (research) work. I wonder why do so many publications (mostly travel) say that Panama has in excess of 100 foreign banks. Hmm...
    "Few cities in Latin America can match the diversity, cosmopolitanism and sheer energy of Panama City..." - THE ROUGH GUIDE

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    Question

    Can anyone tell me which banks are good and reliable? For fees, customer support,etc.

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    Quote Originally Posted by busyguy View Post
    Can anyone tell me which banks are good and reliable? For fees, customer support,etc.
    While some may be somewhat better than others, they're all good and reliable...
    "Few cities in Latin America can match the diversity, cosmopolitanism and sheer energy of Panama City..." - THE ROUGH GUIDE

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    In this list what is the best bank with best banking service?

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    That is an impossible question to answer until you define what you mean by "banking service."


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    What is a good bank?

    It would have internet banking (in English), with wire transfer functions, and a direct SWIFT - that is transfers would be directly to the bank, not through another 'bigger' bank.

    It would be concerned about security. That is, no general emails sent with account info - access only via their https website.

    It would have free or nearly free accounts.

    So, out of the 75 or so, which ones are 'good' based upon this?

    Thanks

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    Wire transfers are the same at all Panama banks, as are the fees (because they're regulated by a national board). And, they're high, whether sending or receiving.

    SWIFT transactions all go through US banks, as far as I know; the difference is that the biggest banks will use an intermediary of the same name (e.g., HSBC), even though it is technically a separate bank. Others will use other US banks as intermediaries.

    Free is not possible, but nearly free is; Panama banks nickel-and-dime you to death. E.g., my last bank charged me $5 for monthly statements, even though I didn't want them and had to go to the bank branch to get them.

    My current bank checking and savings accounts are free with a $250 minimum balance, but they still charge me 10¢ per check if I write more than 2 checks a month. Also, I don't have an ATM/debit card; all banks here charge you for those (usually $25-30/year).

    Internet banking is all over the map, from awful to fair -- nothing like you get in the US or Canada. I'm pretty happy with my current bank -- Multibank -- and they offer the choice of English or Spanish. You'll just have to visit the others' sites to see what they offer.

    As far as email security, I can't answer that, because I've never tested it. But I can tell you that most banks, like all businesses in Panama, do not respond well to emails. This is an "in-person" country for business dealings. I.e., I got good response from Multibank when I sent my email questions about opening an account, but if I had a problem, I would never use email -- because I know the problem would never get fixed that way.

    Because of this last issue, I would choose a bank that had a physical presence near where I live in Panama -- because when/if you do have a problem, you'll need to go into the branch. Also, I'd never use anyone's ATMs for making deposits.

    ▲▼
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    Several of the banks that I have looked at do have their own SWIFT #. Most xfers do go through an intermediary banks, depending upon what bank is sending the wire and such. That is not an issue as it is NORMAL.

    What is not so good is xfer instructions something like:

    Transfer to: HSBC Bank, SWIFT: MRMDUS33
    To credit account: XYZ Bank (Panama), Account No. 000123456
    For further credit to: Customer ABC, Account No. 999888111

    Fees are another thing. There should not be a fee for having a business account with a couple of $K in it nor for internet banking. Fees for xfer should be reasonable, in the $15-25 range. I also noticed some have free debit cards as well.

    As for email, unless it is encrypted, it is like sending your information on the back of a post card, but much worse!

    As always, research ...

    Thanks.

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    Which banks have both a General and International Banking License?

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    Mpuman, are you sure about that free debit card in Panama? I've not seen that...

    Wire transfer fees in Panama are a percentage of the amount transferred.
    I believe this is standard throughout the country:
    From $0 to $10,000 - 1/4%, minimum fee $12.50
    From $10,000 to $50,000 - 1/8%, minimum fee $25
    More than $50,000 - 1/16%, minimum fee $62.50, maximum fee $500
    Plus:
    SWIFT fee (only for sent wire transfers) - $20
    Compliance fee (only for sent wire transfers) - $5

    Here are a couple good discussions and notes about Panama banks:

    Money in Boquete - Boquete Panama

    News Release - Panama Issues : HSBC Horror Stories

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    Again, I have not done an extensive study, that is the reason that I am posting! Hopefully someone has direct experience for commercial / business accounts.

    The HSBC issues have been well known for quite sometime, both in Panama & the rest of the world.

    Scotiabank Panama appears to have free debit card /w acceptable min balance. As for wire fees, don't know with them as I can't find a fee schedule online for the Panama operation. Also their Panama site is in Spanish only which is a bit of a challenge for me (although I do use a translator).

    Many others, like Banco General, BANVIVIENDA, Tower don't seem to have published fee schedules, again making it difficult. With half a hundred or so more to try to check out, the task is great!

    Too bad about Stanford, as they had free MC debit card, no cost banking, no incoming wire fee, and a $25 outgoing wire fee. Other than a perceived issue with the SEC that has bankrupted them internationally, they almost met the requirements ... perhaps they need to be taken off this list!

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    As I said, I believe wire transfer fees are standardized across all banks in Panama -- at least that's what one bank told me when I complained. :-)

    I know some ex-pats who like Scotiabank -- but as you said, no internet transactions in English, and I thought that was a deal-killer for you.

    Remember, Panama is still a third-world country, despite pretensions to the contrary. The internet is rarely used for business here, and most business web sites are simply brochures; they won't help much. You have to be here, on the ground, talking to the banks and the people who use them. This ain't Kansas, Dorothy.

    What a lot of people do is first find a lawyer they can trust, then take that lawyer's recommendation for banks -- and there's a lot of good sense in that. If the lawyer likes the bank, chances are s/he has connections who can help you.

    All in all, we can compare pennies here and dollars there regarding bank fees, but when it comes down to it, the bank you should choose is the one where you get the best service. And, usually -- or, especially in Panama -- that means finding one individual (manager or above) whom you can go to, time after time, with questions.

    E.g., maybe Bank A offers a free debit card, but when an ATM eats your card or doesn't deliver the money it said it did, or debits your account for no apparent reason -- and it's guaranteed, just like car wrecks, that that will happen to you in Panama -- then how long will it take you to get the problem fixed? Me, I'd rather pay Bank B a small fee for their debit card *if* I knew I had an inside contact who'd take care of me.

    The "perceived" issue at Stanford? You mean, like, 8 billion missing dollars? Maybe you should read the article in the March 9 edition of The New Yorker about Alan Stanford.

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    Having a Spanish Only website, is a disadvantage, but not a deal killer. Any yes you are right about fees and such. And yes, being on the ground is important, that is why I am asking, as I am not there (right now).

    As for relying on anything that 'The New Yorker' "reports" as the whole story is pretty far fetched! A lot of digital and print ink is out there. Lots of conjecture, lots of accusations, a lot of falsehoods, and very little beef.

    Ponzi schemes and banks in general are about the same deal. Not wanting to start on Allen (don't know him), but lets see, 'they' have been 'investigating' him for like 15 years. Then the SEC, in its civil complaint, alleged that he took at least $1.6 billion in personal loans, basically seize and lock down everything with his name on it. No crime has been discovered yet ... they just cry that he 'is not cooperative'.

    So where did he put the money? Does he have the millions needed to fight the SEC? So what if the SEC did the same thing to ANY institution that has banking? Do you think that the deal would be any different? Actually its the real banks that do Ponzi - how much in assets do they have? According to the Bank Supervisor in Panama, Stanford has more assets there to cover all of it depositors - with some left over!

    I'm not defending Allen, he MAY be a scam, creep, pompous, good, bad, cheat, or any number of other adjectives ... what I am questioning is the SEC's actions and if it was the prudent thing to do. There has been NO CRIME, not even alleged - yet they are 5-6 weeks into it. I don't know about you guys, but it seems like to me that a real crime needs to be committed before such a drastic action.

    A civil action is different than a criminal action, at least it used to be in the USA. Looks like the deal was to shut down his operations ... maybe to cover up other issues? Perhaps all he needed to do was to take the bailout money that other banks and companies (some forced) did!

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    Panama Trust Savings Guarantee

    Do you know of a bank called Panama Trust Savings Guarantee?
    Quote Originally Posted by exilio View Post
    Mpuman, are you sure about that free debit card in Panama? I've not seen that...

    Wire transfer fees in Panama are a percentage of the amount transferred.
    I believe this is standard throughout the country:
    From $0 to $10,000 - 1/4%, minimum fee $12.50
    From $10,000 to $50,000 - 1/8%, minimum fee $25
    More than $50,000 - 1/16%, minimum fee $62.50, maximum fee $500
    Plus:
    SWIFT fee (only for sent wire transfers) - $20
    Compliance fee (only for sent wire transfers) - $5

    Here are a couple good discussions and notes about Panama banks:

    Money in Boquete - Boquete Panama

    News Release - Panama Issues : HSBC Horror Stories

  19. #18
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    I have not, and nothing comes up in 10 pages of Google. But that does not mean they don't exist.
    Where did you find or hear that name?


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    An assocaite of mine is thinking about doing business with them. Although she didn't quite say if they were an institution like a bank or savings and loan, I beleive it may be the name of either an escrow company or trust account. I just wanted her to check them out before getting involved. She doesn't have an address yet, so I just assumed it was in Panama.

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    What banks on this list are only from Panama and don't do business in other countries like HSBC and Citibank?

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    Not sure what you mean by "do business". Each bank, even HSBC/Citibank are subject to the exact same rules as everyone else.

    Normally the banks in Panama are divided into three categories:

    Government-Owned (since they have no central bank)
    State-Controlled Banks in Panama - Government Owned

    Banks with a general license:
    Banks in Panama - List of Banks in Panama with a General License

    The offshore (international banks):
    List of Banks in Panama - Banks in Panama with an International License

    Of the banks on the general list, it's almost impossible to work out the international affiliations through ownership and such. Banco General just established themselves in Costa Rica and so on....

    Best wishes, Ed
    Last edited by EdBowers; 10-12-2009 at 04:35 PM. Reason: typo

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    Can anyone advise Banks that accept to open accounts for non residents? I heard it is pretty tricky and they usually dont like that.

    Would the fees change if I am non resident ?

    thanks!
    Ilo

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    Accounts for non-residents? One bank that specializes in offshore accounts for non residents is MMG Bank. We have had good experiences with them. A very good thing about them is they can open accounts in many different currencies, something few Panama banks do. They are run by Morgan and Morgan, one of the most prominent law firms in Panama. We have also found Banvivienda friendly and Banco Credit Andorra.

    Major banks do not change tariffs depending whether you are resident or not. Smaller banks like MMG and Credit Andorra will negotiate fees individually.

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    Many lawyers propose Credit Corp bank panamá??

    Hi folks,

    I am in contact with a couples of lawyers who propose Credit corp. anyone knows the fee comparison, if they really open accounts for non residents, if therer are any tricks with past customers etc?

    I will contact Morgan and morgan thanks for the tip. if you have the contact please can you send it by private message

    Cheers
    Ilo

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    It's cheaper for you to come to Panama and bring the right documentation.

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    Thanks Ed. Have you heard of credit corp bank?

    Quote Originally Posted by EdBowers View Post
    It's cheaper for you to come to Panama and bring the right documentation.

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    Credicorp rocks... their service is almost second to none in my experience. They reply fast and they are extremely helpful.

    Hope this helps,
    Matt

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    Great, do you know of their fees? and do they have an internet interface?

    cheers Matt,nice to hear from u


    Quote Originally Posted by No-Non-Sense-Matt View Post
    Credicorp rocks... their service is almost second to none in my experience. They reply fast and they are extremely helpful.

    Hope this helps,
    Matt

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    Yes, they offer merchant accounts from 4-10 %, minimum 10k monthly processing to get started (usually with rolling reserve and a CD as security). Internet interface - is that a serious question?

    They have the best credit cards with 1 % cashback (2% for gas/pharma/groceries). They seldom update their website so the information is incorrect/misleading. Savings accounts pay a very low interest rate compared to similar banks. CDs are paying OK.

    Service is great if you find the right person. They have their fair share of "standard issue" employees as well.

    If you have a longer term CD with them (longer than 1 year) the interest will not capitlize so the rate appears to be incorrect. Make sure to only create CDs that pay annually.

    It would be fun to see you get the most expensive and reputable (M&M) lawfirm in Panama and see what they come up with.....

    If you want to get things done here and not spend a fortune on BS you need to get your $hit together, get on an airplane and start pounding like you never pounded before.

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    I was always under the impression that HSBC was a British bank with Hong Kong connections. Are you sure its Dutch?
    thanks.

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