Banking In Panama

As one of the most dynamic parts of Panama’s economy, international banking plays is a major player in Panama’s success today. As the second largest banking centre in the world with over 120 banks in Panama City alone, Panama plays a significant role in the world financial arena.


Panamanian banking legislation has established three types of banking operation:

  • General license banks that operate full services and compete for domestic deposits and loans
  • International License or "Offshore" banks for individuals or organisations located overseas
  • Representative Offices that perform representational activities in Panama

Banks are organized into two groups: the Panamanian Banking Association (Panamanian and foreign banks) and the Association of Panamanian Banks (Panamanians banks only). The are licensed and regulated by the Banking Supervisory Authority (Superintendencia de Bancos) and as the banking sector is second only in size to Switzerland, banks are considered to by the international banking community to be very stable.

Documents necessary to open a bank account in Panama:

  1. Completed application form
  2. A clear photocopy of passports for each signatory on the bank account. This should be notarised, and must include the passport number, signature and the most recent entry/exit stamps (if any)
  3. 2 reference letters from your local bank or any financial institution you have a history with

Some of the most important banks in Panama:

OFFICIAL BANKS

BANK TEL # WEBSITE
Banco Nacional de Panamá 205-2000 www.banconal.com.pa
Caja de Ahorros 205-1000 www.cajadeahorros.com.pa

GENERAL LICENSE BANKS

BANK TEL # WEBSITE
Banco Continental de Panamá 303-7000 www.bcontinental.com
Banco Cuscatlán de Panamá 208-8321 www.bancocuscatlan.com
Banco General 303-5001 www.bgeneral.com
Banco Uno 270-5899 www.bancouno.com.pa
Citibank 210-5900 www.citibank.com.pa
Credicorp Bank 210-1111 www.credicorpbank.com
Global Bank 206-2000 www.globalbank.com.pa
HSBC Bank 263-5855 www.pa.hsbc.com
Metrobank 223-1666 www.metrobank.com
Multicredit Bank 269-0188 www.grupomulticredit.com
Banistmo 270-0015 www.banistmo.com
Towerbank International 269-6900 www.towerbank.com

INTERNATIONAL LICENSE BANKS

BANK TEL # WEBSITE
BAC Bank 206-2719 www.bac.net
Bancafé 264-6066 www.bancafe-pa.com
Banco Alemán Platina< 303-7000 www.bancoalemanplatina.com
Banco de Bogotá 208-1111 www.bancodebogotainternacional.com
Banco de la Nación Argentina 269-4666
Banco de la Provincia de Buenos Aires 215-7703 www.bpba.com.ar
Banco del Pichincha Limited Panamá 264-7448
Banco do Brasil 263-6566 www.bb.com.br
Bancolombia 263-6955 www.bancolombiapanama.com
Banesco International Bank 269-3301 www.banesco.com
GNB Sudameris Bank 206-6900 www.gnbsudameris.com
Popular Bank 269-4166 www.pbt.com.pa

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