Panama banking center has 93 active banks

Panama has 93 licensed banks, of which 14 are representative offices not allowed to receive deposits.   This leaves 2 government-owned banks and 48 full-service general license banks open to the general public. An additional 29 banks have international license banks which can receive deposits only from non-Panamanians.

General License
1. ALLBANK CORP. *
2. BAC International Bank Inc
3. Balboa Bank & Trust Corp
4. Banco Aliado, S.A
5. Banco Azteca (Panamá), S.A
6. Banco Bilbao Vizcaya Argentaria (Panamá), S.A. (BBVA)
7. Banco Bolivariano (Panamá), S.A.
8. Banco Citibank (Panamá,) S.A
9. Banco Davivienda (Panamá), S.A
10. Banco Delta, S.A (BMF)
11. Banco de Bogotá (Panamá), S.A
12. BANISI, S.A.
13. Banco G & T Continental (Panamá), S.A. (B.M.F)
14. Banco General, S.A.
15. Banco Internacional de Costa Rica, S.A (BICSA)
16. Banco Lafise Panamá, S.A.
17. Banco Latinoamericano de Comercio Exterior, S.A. *
18. Banco La Hipotecaria, S.A
19. Bancolombia, S.A.
20. Banco Panamá, S.A
21. Banco Panameño de la Vivienda, S.A. (BANVIVIENDA)
22. Banco Pichincha Panamá, S.A.
23. Banco Prival, S. A. (en español) - Prival Bank (en inglés)
24. Banco Trasatlántico, S.A.
25. Banco Universal, S.A.
26. Banesco, S.A.
27. Bank Leumi Le-Israel, B.M.
28. Bank of China Limited
29. BCT Bank International, S.A.
30. Capital Bank, Inc
31. Citibank, N.A.
32. Credicorp Bank, S.A.
33. FPB Bank Inc.
34. Global Bank Corporation
35. HSBC Bank (Panamá), S.A. *
36. Korea Exchange Bank, Ltd.
37. Mega International Commercial Bank Co. Ltd.
38. Mercantil Bank (Panamá), S.A.
39. Metrobank, S.A.
40. MiBanco, S.A. B.M.F
41. MMG Bank Corporation
42. Multibank, Inc.
43. Produbank (Panamá), S.A
44. St. Georges Bank & Company, Inc.
45. The Bank of Nova Scotia (SCOTIABANK)
46. The Bank of Nova Scotia (Panamá), S.A.
47. Towerbank International, Inc.
48. Uni Bank & Trust, Inc

* Relevant Changes
** Awaiting notice of approval

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International License
1. Andbanc (Panamá), S.A.
2. Atlantic Security Bank
3. Austrobank Overseas (Panamá), S.A.
4. BAC Bank, Inc.
5. Banca Privada D'Andorra (Panamá), S.A.
6. Banco Credit Andorra (Panamá), S.A.
7. Banco Corficolombiana (Panamá), S.A.
8. Banco de Bogotá, S.A.
9. Banco de Crédito del Perú
10. Banco de la Nación Argentina
11. Banco de Occidente (Panamá), S.A.
12. Banco del Pacífico (Panamá), S.A.
13. Banco Ficohsa (Panamá), S.A.
14. Banco Internacional de Perú, S.A.A – Interbank
15. Banco Santander (Panamá), S.A.
16. Bancolombia (Panamá), S.A
17. BHD International Bank (Panamá), S.A.
18. Inteligo Bank, Ltd.
19.Banco Colpatria Multibanca Colpatria, S.A., Sucursal Panamá
20. ES Bank (Panamá), S.A.
21. First Central International Bank
22. GNB Sudameris Bank, S.A.
23. GTC Bank, Inc.
24. Helm Bank (Panamá), S.A.
25. International Union Bank
26. PKB Banca Privada (Panamá) S.A.
27. Popular Bank Ltd., Inc.
28. Scotiabank Perú, S.A.A. Sucursal Panamá
29. TAG Bank, S.A.

* Relevant Changes
** Awaiting notice of approval

Source: http://www.superbancos.gob.pa/es/igee-informacion-general

For procedures to open a bank account, see also

http://mypanamalawyer.blogspot.com/search/label/bank%20account