What Is Panama’s Largest Bank? – Banking in Panama

Panama’s largest bank is Banco General, a local financial institution offering a wide range of banking services and products.

In this article, we’re exploring Panama’s largest bank, Banco General. This article will be relevant for anyone interested in knowing how to open a bank account with the key financial institutions and largest banks in Panama, either in person or remotely.

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 bank in Panama.

Table of Contents

  1. What Is Panama’s Largest Bank?
  2. Frequently Asked Panama Banking Questions
  3. Do You Want to Open a Panama Bank Account?

What Is Panama’s Largest Bank?

Panama’s largest bank is Banco General, a financial institution with a strong presence offering a wide range of banking products and services to both individuals and businesses of Panama. 

Account holders can benefit from various banking products, such as checking accounts, savings accounts, loans, investment services, and much more. That said, Banco General is not a suitable option for every client type. Like most banks in Panama, Banco General caters to specific client types and has certain account opening requirements.

Non-residents looking to open bank accounts in Panama will have a very difficult time applying to Banco General. This is because Banco General is better suited to residents of Panama.

What Are the Leading Banks in Panama in Terms of Total Assets?

The leading banking groups, including the largest banks in Panama by assets, include Banco General, Banistmo, Banco Aliado, and Banco Nacional de Panama.

The leading international banks in Panama, in terms of total assets, include Citibank, Santander, and Scotiabank.

These financial institutions play a critical role in Panama’s financial sector, offering a wide range of banking services to both individuals and businesses.

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 what Panama’s largest bank is. 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 popular bank used 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 be one of the major banks with strong financials, competent management, and a balanced approach to consumer lending. These banks include the largest banks in the country, like Banco General. That said, there are other institutions in Panama that more commonly cater to foreign non-resident individuals and companies. In certain instances, these other Panama institutions do not directly engage in consumer lending, which can make them even more stable options to consider.

What Is the Number 1 Largest Bank?

The number 1 largest bank in Panama is Banco General. Banco General is a local financial institution, offering a wide range of banking services for residents and local business owners. Foreign non-resident individuals and businesses will most likely have a difficult time opening bank accounts with Banco General.

Do You Want to Open a Panama Bank Account?

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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!

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GlobalBanks Team
GlobalBanks Team

The GlobalBanks editorial team comprises a group of subject-matter experts from across the banking world, including former bankers, analysts, investors, and entrepreneurs. All have in-depth knowledge and experience in various aspects of international banking. In particular, they have expertise in banking for foreigners, non-residents, and both foreign and offshore companies.

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