In this article, we’re exploring the largest banks in Panama, by assets. We’ll break down the biggest banking organizations including the largest banks in Panama into two categories, local and international financial institutions, and answer common questions we receive from people exploring this topic.
This article is part of our free series on the largest banks in Panama. You can access this series right now by using the link above.
In addition to detailed account opening guides, this free series on Panama banking also discusses the largest banks in Panama, Panama opening requirements, the costs of banking in Panama, and much more. Use the link above to start exploring all of your free Panama banking content right now.
Alternatively, use the table of contents to continue exploring more information on the largest banks in Panama by assets.
Table of Contents
- What Are the Largest Banks in Panama by Assets?
- Frequently Asked Panama Banking Questions
- Do You Want to Open a Panama Bank Account?
What Are the Largest Banks in Panama by Assets?
The largest banks in Panama by assets include local and foreign financial institutions. The largest local banks in Panama, by total assets, include Banco General and Banistmo, and the largest foreign banks in Panama, include Citibank and Santander.
Not surprisingly, the largest banks in Panama play a critical role in Panama’s economy, providing a wide range of banking services, driving growth across multiple sectors, and supporting the needs of both individuals and businesses.
Not all major banking firms and major banks in Panama, including the largest banks, are created equal. In fact, Banco General and Banistmo are difficult to access for foreign individuals and companies looking to open a bank account in Panama.
It’s important to choose financial institutions that accept similar client profiles and are trustworthy. This means you need to understand your client profile, banking needs, desired deposit level, and much more before you start the process of applying for bank accounts with the leading international bank, Panama’s largest bank, or other institutions.
Here’s a look at the six largest local and international banks operating in Panama.
Largest Local Panama Banks
- Banco General
- Banistmo
- Banco Aliado
- Banco Nacional de Panama
- Credicorp Bank
- BAC International Bank
Largest International Banks by Total Assets
- Citibank
- Santander
- Scotiabank
- BBVA Panama
- BHD International Bank
- Inteligo Bank
If you are interested in learning more about banking in Panama, don’t forget to visit our comprehensive guide on Banking in Panama, available in the link above.
Alternatively, if you would like to explore all of your offshore banking options, download our free guide and compare Panama to some of the top banking jurisdictions available.
Do You Want to Explore All Your Offshore Banking Options?
Frequently Asked Panama Banking Questions
Below are a few of the most common questions we receive from people exploring the largest banks in Panama by assets. If you have further questions you would like answered, don’t hesitate to get in touch with us directly.
What Is the Most Popular Bank in Panama?
The most used bank by Panamanian citizens in Panama is Banco General (or Bank General). However, many foreign residents of Panama use large regional banks like Banistmo. That said, it’s important to note that both Banco General and Banistmo are difficult to access for foreign individuals and companies looking to open a bank account in Panama.
What Is the Safest Bank in Panama?
The safest bank in Panama will ultimately depend on the person applying to open an account. This is because depending on your client profile, deposit level, and banking needs, the safest banks suitable for you will vary from another client type. It’s important to choose stable banks that align with your banking needs and offer the banking services you are after.
How Stable Are the Banks in Panama?
Banks in Panama are relatively stable as long as you choose a financial institution that adheres to financial regulations and international standards. Not all banks in Panama are created equal. This is especially true when it comes to non-resident banking. It’s important to choose banks that cater to similar client profiles, align with your banking needs, have requirements you can meet, and offer the services you are looking for.
Do You Want to Open a Panama Bank Account?
If so, you can access GlobalBanks IQ and start the process of applying in Panama in a few clicks.
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To learn more about opening accounts with GlobalBanks IQ, use the link in the top menu. Or, contact us directly with any questions!
