The National Bank of Panama (Banco Nacional de Panamá) (BNP), a Panamanian government-owned bank, is the largest banking institution in this nation. This bank is owned by the Government of Panama and, together with the National Banking Commission, provides both non-monetary and monetary regulatory policies as Panama does not have a typical central bank. It offers banking services to both residences and foreigners.

Each member of BNP must act according to fundamental ethical values in a uniform, coherent and permanent manner over time. They are obliged to bring the highest quality of care and service in order to fully meet the needs of their customers. Additionally, all employees constantly evolve so that BNP always generates value, at the forefront of digital and efficient processes.

BNP holds a combined deposit of over $10 billion and a foreign client has to deposit at least $5,000 to operate a bank account. Specifically, three essential strategic guidelines, which is clients, people and continuous improvement have been defined to achieve the goal set by 2024. Therefore, it is regarded as the strongest and most stable financial organization in this country.

Founded: 1911
Headquarter: Via España y Calle 55, Panama City
Website: https://www.banconal.com.pa/

Caja De Ahorros is a leading banking entity in Panama with a recognized tracking record. It is established in 1934 and becomes one of the Panama banks that is owned by the Panamanian Government. It offers a wide range of banking services for not only local residents but also foreign customers, including savings account, current account, domiciliary accounts, investment accounts, and so forth.

Unlike The National Bank of Panama (BNP), however, Caja De Ahorros does not have a high minimum balance for the clients overseas. With just $100, they can operate an account with the bank. In addition, this bank handles more than $5 billion worth of transactions every year.

Caja De Ahorros continuously contributed to the economic and social progress of the nation helping Panamanians greater access to banking. It has progressively consolidated itself as a high-level bank through the various types of products and services that adjust to the standard of the customers' finance. This bank is considered as the leading organization in the local market, being the only Panama bank which has more than one million deposit accounts and over 1,200 million in the mortgage portfolio, standing at the highest position in the national mortgage segment.

Founded: 1934

Headquarter: 123 6th St. Melbourne, FL 32904

Website: https://www.cajadeahorros.com.pa

Banco General, S.A. (Banco General) is one of the top private banks in Panama. It has the largest market share in local deposits (approximately 26% at June 2010). By using the Electronic Security Card, an exclusive security and authentication system in Banco General allows individuals to pay and transfer money with a high security level.

Banco General currently offers clients a wide infrastructure of banking products and services with more than 70 branches, more than 600 ATMs nationwide, telephone and chat service, and a first-rate digital platform.

Banco General was the first Panamanian bank to gain an International Investment Grade from the Fitch Ratings and Standard and Poor's agencies in 1997, and it maintains the rating without interruption up to now. It also has an Investment Grade from the Moody's agency since 2017. For more than 65 years, Banco General has operated with strict finance and banking discipline. Moreover, its corporate culture is based on values and a commitment to serve customers and the community with complete excellence. These are the precepts that define its success and trajectory.

Founded: 1955

Headquarters: Torre Banco General, Aquilino de la Guardia, Urb. Marbella
Website: https://www.bgeneral.com

Credicorp Bank is a banking institution constituted according to the legislation of the Republic of Panama. It was established in 1995 and is legally authorized to conduct banking business in both Panama and abroad. This bank has a mass of direct and indirect subsidiaries and is a shareholder of entities that are mainly engaged in financial activities.

Credicorp Bank has gradually risen to become one of the biggest banks in Panama since its creation. It has developed suitable policies that make it suitable for foreign clients' usage. In spite of having a modest number of branches that is a little over 10, many customers overseas, especially Americans have opened accounts with this bank due to the abundance of branches within the capital city of those countries. Additionally, Credicorp Bank also has a website that gives potential clients extensive information about banking and finance institution. The Panamanians can open an account with $150. For foreign customers, they can open an account with $1,500 as the opening balance.

Credicorp Bank is a state-of-the-art bank that more and more customers choose to use the banking and finance services. With the philosophy on conservative and traditional banking and a well-defined policy of getting to know customers, it is willing to offering clients personalized attention in their financial transactions by means of an excellent and highly efficient service using the most advanced technological resources of modern banking system.

Founded: 1993

Headquarter: Plaza Credicorp Bank, Ave Nicanor de Obarrio

Website: https://www.credicorpbank.com/en/

Banesco S.A. (Banesco) is known as one of the largest banks in Panama with more than 20 branches across the country. It is owned by a Venezuelan financial institution named Banesco CA. It has operations in the United States and Latin America with a presence in six countries and made up of four independent financial groups: Banesco USA (Florida, United States), Banesco Panama, Banesco Dominican Republic and Banesco Venezuela.

In December 2020, the business volume of Banesco S.A. was 10,087 million dollars and its net worth amounted to 697 million dollars. In July 2021, Banesco S.A. had totally 980 collaborators, over 200 000 customers, 23 branches nationwide and more than 31 ATM machines. The founder, as well as the main shareholder, is Juan Carlos Escotet Rodríguez, a well-known banker and economist.

Many domestic and foreign clients prefer to use the banking products and services of Banesco S.A. because of the fact that its requirement for opening an account are few. All the documents an individual needs to open an account with the bank are a $10,000 deposit, a valid ID, references, and proof of income.

Founded: 2007

Headquarter: Ave. Aquilino de la Guardia y Calle 47, Marbella, Panama

Website: https://www.banesco.com.pa/

Scotiabank of Panama is one of the largest banks owned by a foreign parent financial institution from Canada. It offers its clients a wide range of banking and finance services through more than 20 branches all around Panama.

Like Citibank Panama, Canadians who use financial services of Scotiabank in Canada can easily use these same services at Scotiabank of Panama. In a period of several year, it is apparent that corporate social responsibility is a fundamental part of the way Scotiabank of Panama do business and is an crucial element of its success.

Besides, community programs implemented by Scotiabank of Panama constitute an essential element of the Scotiabank Group's commitment to Corporate Social Responsibility. Scotiabank has always taken care of the communities that it is present. It is also the responsibility to help the communities in which the bank does business. All of these aspects markedly make a contribution to the success of the bank development over the time.

Founded: 1832

Headquarters: Calle Aquilino de la Guardia Punta Pacifica, Torre de las Americas PANAMA CITY, Panama

Website: https://pa.scotiabank.com/es/banca-personal.html

Citibank is a Panama bank that a lot of foreigners choose to use the banking services, especially Americans. In addition, the Citigroup, the parent company, has made a contribution to the development of the country's economy since the creation of the nation’s famous canal. Moreover, Citibank provides a wide range of banking services for both locals and foreigners.

Citibank has remarkably devoted to all major aspects of banking and finance: Working Capital Management, Execution, Securities Services and Advisory and Capital Raising. The source of service suply requires the bank to deploy a considerate amount of capital lending to our customers, sponsoring their assets and taking their counterparty credit risk. And the delivery of these services is taken through an integrated network of other nations that is significantly larger than that of any other financial organization.

Opening a bank account with Citibank in Panama is extra easy for Americans that already have an existing account with Citibank in America because they will not need to fill out new reference forms.

Founded: 1904
Headquarter: Punta Pacifica, Torre de las Americas, piso 14
Website: https://www.citibank.com/icg/sa/latam/panama/

Multibank Panama, a totally-owned subsidiary of Multi Financial Group Inc, is known as one of the leading banking organizations in Panama. It also has possession of the entire equity of many subsidiary companies.

Multibank Panama is a precisely stable bank. It has over 20 branches with functional ATMs within the nation. With a combined asset value of over $4 billion, it gradually becomes an ideal financial organization for saving money.

Unlike other banks, Multibank Panama provides the clients with a lower opening balance, so that various categories of people maintain their account with the bank. For external customers, they are required to pay a deposit of $1,500 to open a bank account within Panama.

Founded: 1990

Headquarter: Via España 127, Prosperidad Building

Website: https://www.multibank.com.pa/

Global Bank is an entire Panamanian capital bank established in 1994. It is a private bank of Panamanian capital in a volume of assets and it currently has a network of 30 branches and 154 ATMs nationwide. The main activity of this bank is the commercial and consumer banking business.

Global Bank originally operated as a purely corporate bank; however, a considerable upward trend was recorded in the first years. With the vision of being an essential factor in the Panamanian financial field, in 1999, this bank purchased 100% of Colabanco's share capital, becoming the first banking institution that began the mergers and bank acquisitions in Panama. Thanks to this transaction, the assets of the bank accelerate three times as much as those in the previous duration,

In 2019, Global Bank purchased Banvivienda. This led to a portfolio of over 200 thousand customers, becoming a strengthened and consolidated financial organization with a mass of robust financial products and services that are suitable for the clients' demands.

Founded: 1994
Headquarter: Calle 50, Global Bank Tower
Website: https://www.globalbank.com.pa/en

Banistmo is a prominent bank in Panama and Central America. It was established in 1984 as Primer Banco del Istmo. Originally, the bank operated as a subsidiary of HSBC Panama. Nevertheless, in 2013, the bank was acquired and its name was changed to what it is at the moment.

Banistmo is one of the excellent commercial bank that offers its clients a wide range of banking and finance services in Panama. It has over 40 branches and nearly 300 ATMs within Panama. The Panamanians can open an account with just $50. For foreign customers, on the other hand, it is required $3,000 to open an account.

In 2019, Banistmo reached over 10 billion U.S dollars in total assets and became one of the leading banks based on assets value, owing to the fact that the government of Panama has been working towards implementing a set of financially inclusive policies in recent years. This initiative has been a crucial step to overcome poverty and increase economic growth.

Founded: 1984

Headquarter: Calle 50, Banistmo Building

Website: https://www.banistmo.com