The Panamanian banking center has 93 banks with $81.407 billion in assets, 13% more than 2010. $21.987 billion are held by Panamanian-owned non-government banks.
New Panamanian-owned banks include Unibank, Banco Panama, Capital Bank (BVP), Prival Bank and Balboa Bank & Trust, which took over the operations of the Stanford Bank Panama branch.
Panamanian-owned banks continue their expansion overseas. Banco General (f. 1955, BVP: BGEN) has a 5 full service branches in Costa Rica and the representation offices of acquired Banco Continental in Guatemala, Mexico and Colombia.
Multibank (f. 1990, BVP: MULT) acquired Costa Rican car lender MultiResuelve and Colombian money store Macrofinanciera.
Mortgage lender La Hipotecaria (f. 1997, BVP: HIPH) started operations in Colombia and El Salvador.
Private banker Prival Bank owns a stock brokerage firm in El Salvador Invertecnic.
Credicorp Bank (BVP: CRED) has a representation office in Colombia.
For full text see www.martesfinanciero.com 24.04.12
|Statutory Liquidity Methodology|
|* Banking Center Assets||05/2012||82,787.8||11.24%|
|* Banking System Local Deposits||05/2012||34,533.2||10.29%|
|* Banking System Local Credit||05/2012||30,415.0||16.31%|
|Number of Banks in the Banking Center||05/2012||90||-|
|* In Million of Balboas|
For more information about the Panama banking system see http://www.superbancos.gob.pa/en/
For requirements to open bank accounts in Panama banks see http://mypanamalawyer.blogspot.com/search/label/bank