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:


Banco Nacional de Panamá 205-2000
Caja de Ahorros 205-1000


Banco Continental de Panamá 303-7000
Banco Cuscatlán de Panamá 208-8321
Banco General 303-5001
Banco Uno 270-5899
Citibank 210-5900
Credicorp Bank 210-1111
Global Bank 206-2000
HSBC Bank 263-5855
Metrobank 223-1666
Multicredit Bank 269-0188
Banistmo 270-0015
Towerbank International 269-6900


BAC Bank 206-2719
Bancafé 264-6066
Banco Alemán Platina< 303-7000
Banco de Bogotá 208-1111
Banco de la Nación Argentina 269-4666
Banco de la Provincia de Buenos Aires 215-7703
Banco del Pichincha Limited Panamá 264-7448
Banco do Brasil 263-6566
Bancolombia 263-6955
Banesco International Bank 269-3301
GNB Sudameris Bank 206-6900
Popular Bank 269-4166

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