New Banks in Panama

©image: Cerro Mijares

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).

Prensa.com reports that one of the main objectives set by the Superintendence is to position Panama as a banking hub in Latin America.

Source: Prensa.com

More on this topic

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.”.

New Banks Arrive in Panama

August 2010

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.