Explore Panama - Business

Panama Banking

Panama is a well-developed, mature international banking center. A total of 109 banks take advantage of the country's favorable bank regulations and confidentiality, free currency convertibility and movement, use of the U.S. dollar as legal tender, favorable fiscal legislation, good international communications, a well-trained workforce, stable economic, political and social environments, and the high degree of utilization of modern technology.

Of the 109 banks operating in Panama, 62 operate under a general license, which enables them to do domestic and international business; 30 under international license, limited to off-shore business and 17 are representative offices.

Close to 75% of deposits are from abroad, which underlines the important service our international banking center provides to the region, as a converging point for credit facilities and safe haven for deposits.

The strong Panama Banking Association is presently in the midst of a process to strengthen banking legislation to convert Panama's banking sector into one of the most competitive banking centers in the world. The Banking Association of Panama (Asociacion Bancaria de Panama) is a private, non-profit organization which promotes the legitimate interests of the banking community in Panama.

Much of its effort is dedicated to strengthening and expanding Panama's role as an international banking center. To achieve this end, the Association supports the exchange of opinions and facilitates communication between the groups, individuals and government authorities involved in the banking sector.

The Panama Banking Association also sponsors research into the needs of the banking system and the requirements for its improvement. It makes its services available to the government to assist in the development of reforms to improve banking legislation and the functioning of the economy in Panama.

The services provided by the Banking Association to its members include:

Representation before the government and international organizations. In particular, the Association represents the banking community before the National Banking Commission, which is the government agency responsible for ensuring the health and efficiency of the banking system.

Information concerning interbank relations and other subjects of interest, including incidents of fraud and methods members can use to protect themselves.

Support in matters involving labor relations, legal, tax and international trade issues, automation and security.

Educational programs to train bank employees. For this purpose, the Association created the International Banking Institute, which offers a wide range of courses.

Biannual Banking Conventions and other events at the national and international levels to promote the banking system.

Establishment and evaluation of banking practices.

THE BANKING ASSOCIATION OF PANAMA The HongKong Bank Building 15th Floor Ave. Samuel Lewis Panama City, Panama

Phone: (507)263-7044 Fax: (507)263-7783, (507)263-763

THE BANKING ASSOCIATION OF PANAMA MEMBERS

BANCOS DE LICENCIA GENERAL:

ABN AMRO BANK, N. V. Apartado 10147, Panama 4, Republica de Panama Tel. 2636200 Fax (507) 2690526 JOSE LUIS PELAEZ PEREZ, Gerente General JULIO E. PASTOR D., Subgerente

BANCAFE (PANAMA), S. A. Apartado 384, Panama SA, Republica de Panama Tel. 2646066 / 2646377 / 2646777 / 2646577 Fax (507) 2636115 ALVARO NARANJO SALAZAR, Gerente General KATHYNA DE FABREGA, Gerente Sucursal Panama

BANCO ALIADO, S. A. Apartado 552109, Paitilla, Panama, Republica de Panama Tel. 2639777 / 2639757 Fax (507) 2639677 ALEXIS A. ARJONA, Gerente General GABRIEL DIAZ H., Gerente de Administraci;n

BANCO BILBAO VIZCAYA (PANAMA), S. A. Apartado 3392, Panama 3, Republica de Panama Tel. 2636922 Fax (507) 2636483 JAVIER LEJARRAGA, Gerente General AURELIO PEREZ PALOMINO, Subgerente General

BANCO CENTRAL HISPANOAMERICANO, S. A. Apartado 8381, Panama 8, Republica de Panama Tel. 2639044 / 2639127 Fax (507) 2695824 JOSE MANUEL FRADE, Gerente General GRISELDA DE DE LA GUARDIA, Gerente Area Comercial

BANCO COMERCIAL ANTIOQUENO, S. A. Apartado 1630, Panama 1, Republica de Panama Tel. 2636577 / 2636125 / 2636648 Fax (507) 2637534 / 2636865 LUIS FELIPE HOYOS, Gerente General ANNETTE FIERRO DE DE OBALDIA, Subgerente Operativo

BANCO COMERCIAL DE PANAMA, S. A. BANCOMER Apartado 7659, Panama 5, Republica de Panama Tel. 2636800 / 2634433 Fax (507) 2638033 EMANUEL GONZALEZ REVILLA, Presidente y Gerente General CARLOS R. HENRIQUEZ L., Vicepresidente GABRIELA DE OBARRIO DE NAVARRO, Presidente Honoraria

BANCO CONFEDERADO DE AMERICA LATINA, S. A. COLABANCO Apartado 7547, Panama 5, Republica de Panama Tel. 2699888 Fax (507) 2633518 JUAN ANTONIO NI8O, Vicepresidente Ejecutivo y Gerente General DAVID L. PLATA, Vicepresidente de Operaciones y Sistemas

BANCO CONTINENTAL DE PANAMA, S. A. Apartado 135, Panama 9A, Republica de Panama Tel. 2635955 / 2635153 / 2635580 Fax (507) 2643359 PAUL SMITH A., Gerente General RAFAEL REYES E., Gerente de Credito ROBERTO MOTTA C., Presidente

BANCO DE BOGOTA, S. A. Apartado 8653, Panama 5, Republica de Panama Tel. 2646000 Fax (507) 2638037 ANDREW L. CLARKSON R., Gerente General FABIO GUILLERMO RIA8O A., Subgerente General

BANCO DE COLOMBIA, S. A. (PANAMA) Apartado Postal 4213, Panama 5, Republica de Panama Tel. 2640359 / 2645382 / 2645428 Gerencia General: 2643581 Fax (507) 2641285 JORGE HUMBERTO VIDELA RICO, Gerente General RIGOBERTO NOLAN FORBES, Tesorero Contralor

BANCO DE IBEROAMERICA, S. A. Apartado 6553, Panama 5, Republica de Panama Tel. 2635366 / 2635983 / 2635379 Fax (507) 2691616 JUAN MANUEL LIMA B., Gerente General GINA G. DE SAENZ, Gerente de Planificacion y Control JOSE MARIA CHIMENO, Presidente

BANCO DE LA EXPORTACION, S.A. BANEXPO Apartado 3844, Panama 7, Republica de Panama Tel. 2235333 Fax (507) 2235338 IGNACIO FABREGA O., Gerente General YESSICA ROJAS URIBE, Subgerente General

BANCO DE LATINOAMERICA, S. A. BANCOLAT Apartado 4401, Panama 5, Republica de Panama Tel. 2640466 / 2640676 Fax (507) 2637368 RAFAEL ARIAS CHIARI, Gerente General SANTIAGO DUQUE Z., Subgerente General

BANCO DEL ISTMO, S. A. Apartado 63823, El Dorado, Panama, Republica de Panama Tel. 2695555 Fax (507) 2695168 ALBERTO VALLARINO, Vicepresidente Ejecutivo L.J. MONTAGUE BELANGER, Gerente General SAMUEL LEWIS GALINDO, Presidente

BANCO DISA, S. A. Apartado 7201, Panama 5, Republica de Panama Tel. 2635933 / 2639950 / 2639954 Fax (507) 2641084 RAFAEL C. ENDARA, JR., Vicepresidente Ejecutivo y Gerente General ROBERTO E. THOMAS S., Gerente de Credito

BANCO DE BRASIL, S. A. Apartado 871123, Panama 7, Republica de Panama Tel. Central telefonica: 2636566 / 2636170 / 2636470 Gerencia General: 2636302 Gerencia Adjunta: 2693742 Money Desk: 2640495 Fax (507) 2635542 TELEFAX DE RELACIONES BANCARIAS: 2699867 CELSO DE MEDEIROS DRUMMOND, Gerente General MELANIA MEDEIROS FERNANDES, Gerente

BANCO EXTERIOR, S. A. Apartado 8673, Panama 5, Republica de Panama Tel. 2271122 Fax (507) 2273663 RAFAEL SANCHEZ GARROS, Gerente General RAMON TWEED MOTLEY, Gerente de Operaciones

BANCO FEDPA, S.A. Apartado 6218, Panama, Republica de Panama Tel. 2633233 Fax (507) 2633240 MIGUEL A. GALDAMES B., Gerente General FRANCISCO MORENO, Gerente de Operaciones

BANCO GANADERO, S. A. Apartado 63567, El Dorado, Panama, Republica de Panama Tel. 2690659 / 2690134 / 2637933 Fax (507) 2638985 ABEL MERCADO JARAVA, Gerente General EDUARDO BREWER C., Subgerente Bancario y de Mercadeo

BANCO GENERAL, S. A. Apartado 4592, Panama 5, Republica de Panama Tel. 2273200 / 2270150 / 2270260 2274757 / 2272289 / 2273690 Fax (507) 2273427 TELEFAX DEL DEPTO. INTERNACIONAL: (507) 2274618 RAUL ALEMAN Z., Vicepresidente Ejecutivo y Gerente General JOSE DIAZ SEIXAS, Vicepresidente

BANCO HIPOTECARIO NACIONAL Apartado 222 Panama 1, Republica de Panama Tel. 2270055 Fax (507) 2256956 WINSTON RODOLFO WELCH B., Gerente General AZAEL PURCAIT, Gerente de Finanzas

BANCO INDUSTRIAL COLOMBIANO DE PANAMA, S. A. Apartado 8593, Panama 5, Republica de Panama Tel. 2636955 (buscador automtico) Fax (507) 2691138 JORGE DURAN OSPINA, Gerente General SANTIAGO EDUARDO VILLA CARDONA, Subgerente

BANCO INTERNACIONAL DE COSTA RICA, S. A. Apartado 600, Panama 1, Republica de Panama Tel. 2636822 / 2635240 Fax (507) 2636393 JOSE FRANCISCO ULATE, Gerente General FEDERICO ECHANDI GURDIAN, Subgerente General

BANCO INTERNACIONAL DE PANAMA, S. A. BIPAN Apartado 11181, Panama 6, Republica de Panama Tel. 2639000 Fax (507) 2639514 RENE A. DIAZ A., Gerente General ANNABEL DE TERAN, Subgerente General

BANCO LATINOAMERICANO DE EXPORTACIONES, S. A. BLADEX Apartado 61497, El Dorado, Panama, Republica de Panama Tel. 2636766 Fax (507) 2696333 JOSE CASTA8EDA VELEZ, Vicepresidente Ejecutivo HAYDEE A. DE CANO, Primer Vicepresidente Administracion

BANCO MERCANTIL DEL ISTMO, S. A. Apartado 484, Panama 9A, Republica de Panama Tel. 2636262 Fax (507) 2637553 / 2636431 MANUEL JOSE BARREDO MARTINEZ, Gerente General RODOLFO MIRANDA VERGARA, Gerente de Promocion

BANCO NACIONAL DE PANAMA Apartado 5220, Panama 5, Republica de Panama Tel. 2635151 Fax (507) 2690091 / 2647155 JOSE ANTONIO DE LA OSSA, Gerente General

BANCO PANAMENO DE LA VIVIENDA, S. A. BANVIVIENDA Apartado 8639, Panama 5, Republica de Panama Tel. 2274020 / 2250128 / 2250155 Fax (507) 2275433 MARIO L. FABREGA AROSEMENA, Gerente General

BANCO PANAMERICANO, S. A. PANABANK Apartado 1828, Panama 1, Republica de Panama Tel. 2639266 Fax (507) 2691537 / 2645357 GUIDO J. MARTINELLI, JR., Vicepresidente Ejecutivo y Gerente General CARLOS R. BARRIOS I., Gerente de Operaciones

BANCO REAL, S. A. Apartado 7048, Panama 5, Republica de Panama Tel. 2691444 / 2691104 / 2691596 Fax (507) 2691716 LUSIVANDER F. LEITE, Gerente General MILTON AYON WONG, Gerente

BANCO TRASATLANTICO, S. A. Apartado 7655, Panama 5, Republica de Panama Tel. 2692318 Fax (507) 2694948 RAUL DE MENA C., Gerente General ANTONIO FOTIS TAQUIS, Subgerente

BANCO UNION, S. A. C. A. Apartado "A", Panama 5, Republica de Panama Tel. 2649133 / 2649091 Fax (507) 2639985 MARIA M. DE MENDEZ, Gerente Encargada ANA BERTA DE VILLANUEVA, Subgerente General

BANK LEUMI ISRAEL B. M. Apartado 64518, El Dorado, Panama, Republica de Panama Tel. 2639377 / 2693113 / 2693812 Fax (507) 2692674 ALBERT BITTON, Gerente General DAVID MAMANN, Subgerente

BANK OF CHINA (Sucursal Panama ) Apartado 871056, Panama 7, Panama Tel. 2635522 / 2636383 Fax (507) 2239960 / 2691079 QI RE HE, Gerente General XIU RONG YIN, Subgerente General

BANQUE NATIONALE DE PARIS (PANAMA), S. A. Apartado 1774, Panama 1, Republica de Panama Tel. 2636600 Fax (507) 2636970 / 2639472 PIERRE THOME, Vicepresidente y Gerente General JORGE DIXON DE LEON, Director Comercial

BANQUE SUDAMERIS Apartado 1847, Panama 9A, Republica de Panama Tel. 2272777 Fax (507) 2275828 GIANCARLO PANICUCCI, Gerente General JULIO A. CORTES, Gerente Adjunto

CAJA DE AHORROS Apartado 1740, Panama 1, Republica de Panama Tel. 2636233 / 2691544 Fax (507) 2693674 JAVIER ARTURO VINCENSINI, Gerente General ANIBAL ILLUECA HERRANDO, Asistente a la Gerencia General

CITIBANK, N. A. Apartado 555, Panama 9A, Republica de Panama Tel. 2638377 Corporativo / 2364044 del Consumidor Fax (507) 2694171 Corporativo / 2362574 del Consumidor EDUARDO C. URRIOLA, Gerente General ROXANA DE RICHA, Vicepresidenta

CREDICORP BANK Apartado 871338, Panama 7, Rep. de Panama Tel. 2635600 Fax (507) 2639314 CARLOS GUEVARA, Gerente General MAX JOE HARARI, Gerente de Finanzas

DEUTSCH SUDAMERIKANISCHE BANK AG Apartado 5400, Panama 5, Republica de Panama Tel. 2635055 Fax (507) 2691877 PETER NHR, Gerente General KLAUS MFLLER, Gerente

GLOBAL BANK CORPORATION Apartado 551843, Paitilla, Panama, Republica de Panama Tel. 2699292 Fax (507) 2644089 JORGE E. VALLARINO S., Presidente y Gerente General OTTO O. WOLFSCHOON, JR., Vicepresidente Ejecutivo

KOREA EXCHANGE BANK Apartado 8358, Panama 7, Republica de Panama Tel. 2699966 Fax (507) 2644224 MENG BOK LEE, Gerente General SUN GAP WHANG, Gerente

LLOYDS BANK P.L.C. Apartado 8522, Panama 5, Republica de Panama Tel. 2636277 Fax (507) 2647931 JORGE FRANKE, Gerente Principal GILDA C. DE TEDMAN, Gerente (Comercial)

METROBANK, S. A. Apartado "B", Panama 5, Republica de Panama Tel. 2231666 / 2231325 Fax (507) 2232020 ALBERTO JOSE PAREDES, Vicepresidente Ejecutivo y Gerente General ALFREDO E. BAIZ B., Subgerente General

MIDLAND BANK PLC Apartado 5322, Panama 5, Republica de Panama Tel. 2636200 / 2695477 Fax (507) 2695577 / 2695133 JOSEPH L. SALTERIO, JR., Gerente General LORENZO J. RIVERA, Gerente de Tesorer1a e Instituciones Financieras

MULTI CREDIT BANK, INC. Apartado 8210, Panama 7, Republica de Panama Tel. 2696763 / 2690188 / 2692779 / 2692812 Fax (507) 2644014 / 2693921 PEDRO OLIVA, JR., Gerente General BENITO AVERSA, Gerente de Credito ALBERTO SALOMON, BTESH, Presidente

PRIMER BANCO DE AHORROS, S. A. PRIBANCO Apartado 7322, Panama 5, Republica de Panama Tel. 2272225 / 2272666 Fax (507) 2274037 JOAQUIN DE LA GUARDIA G., Gerente General OSWALDO A. DIAZ A., Subgerente General

REPUBLIC NATIONAL BANK, INC. Apartado 8962, Panama 5, Republica de Panama Tel. 2647777 / 2647904 Fax (507) 2643722 INES T. DE LEW, Gerente General JULIO C. QUINZADA, Asistente

STATE BANK OF INDIA Apartado 64526, El Dorado, Panama, Republica de Panama Tel. 2636866 Fax (507) 2696780 KISHORE KUMAR SAXENA, Gerente General GABRIEL O. AROSEMENA, Subgerente de Operaciones

THE BANK OF NOVA SCOTIA Apartado 7327, Panama 5, Republica de Panama Tel. 2636255 Fax (507) 2638636 ALBERTO R. TARABOTTO, Gerente General AMELIA Z. DE CASTILLERO, Gerente de Operaciones

THE BANK OF TOKYO, LTD. Apartado 1313, Panama 1, Republica de Panama Tel. 2636777 Fax (507) 2635269 KAZUTOSHI HOSHINO, Gerente General HORACIO O. MARQUINEZ, Gerente SR.

THE CHASE MANHATTAN BANK, N. A. Apartado 9A76, Panama 9A, Republica de Panama Tel. 2635855 / 2635877 / 2635180 Fax (507) 2636009 OLEGARIO BARRELIER, Vicepresidente y Gerente General ANIBAL HENRIQUEZ, Vicepresidente Contralor

THE DAIICHI KANGYO BANK, LTD. Apartado 2637, Panama 9A, Republica de Panama Tel. 2696111 / 2696360 Fax (507) 2696815 YUTAKA KOYAMA, Gerente General MARTHA DE DE WOLF, Gerente de Operaciones

THE FIRST NATIONAL BANK OF BOSTON Apartado 5368, Panama 5, Republica de Panama Tel. 2642244 / 2642225 Fax (507) 2647402 LUIS A. NAVARRO L., Vicepresidente y Gerente General SONIA R. DE NEWELL, Vicepresidente Asistente

THE INTERNATIONAL COMMERCIAL BANK OF CHINA Apartado 4453, Panama 5, Republica de Panama Tel. 2638108 / 2638217 / 2638565 Gerencia: 2649911 / Subgerencia: 2649022 Fax (507) 2638392 TAIHSIUNG LEE, Vicepresidente y Gerente General FELIX CHEN, Gerente

TOWERBANK INTERNATIONAL, INC. Apartado 66039, El Dorado, Panama, Republica de Panama Tel. 2696900 Fax (507) 2696800 / 2641536 / 2692964 G. ANTONIUS DE WOLF, Gerente General ROSEMARIE DE AYALA, Gerente de Operaciones

S BANCOS DE LICENCIA INTERNACIONAL:

ATLANTIC SECURITY BANK Sucursal Panama Apartado 68934, El Dorado, Panama, Republica de Panama Tel. Central: 2695944 / 2695862 / 2695367 / 2695865 Fax (507) 2695391 / 2642392 JORGE PONCE, S. Vicepresidente Senior y Gerente General MARISOL E. SIERRA V., Vicepresidente y Gerente de Operaciones

AUSTROBANK OVERSEAS (PANAMA), S.A. Apartado 63197, El Dorado, Panama, Republica de Panama Tel. 2695275 / 2695372 Fax (507) 2646135 NICOLAS LATORRACA E., Apoderado ENRIQUE JAEN CHONG, Gerente de Operaciones

BANCO AGRICOLA COMERCIAL DE EL SALVADOR, S.A. SUCURSAL PANAMA Apartado 62637, El Dorado, Panama, Republica de Panama Tel. 2635863 / 2635762 Fax (507) 2635626 JOSE ALFONSO ESPINOZA, Gerente RUTH BARNES DE ARAUZ, Gerente de Operaciones

BANCO ALEMAN PLATINA, S. A. Apartado 6180, Panama 5, Republica de Panama Tel. 2238005 / 2692666 Fax (507) 2690910 ALDO O. ZAVAGNO, Gerente General LETICIA S. DE URRUTIA, Subgerente

BANCO ANDINO (PANAMA), S. A. Apartado 61061, El Dorado, Panama, Republica de Panama Tel. 2691084 / 2695587 / 2637682 Fax (507) 2637749 HUMBERTO ARCIA W., Subgerente ZAYDEE DE MIRANDA, Secretaria

BANCO DE LA NACION ARGENTINA Apartado 63298, El Dorado, Panama, Republica de Panama Tel. 2694666 Fax (507) 2696719 HUGO O. CRESPI, Gerente General OLGA SOLIS, Gerente de Operaciones y Credito

BANCO DE LA PROVINCIA DE BUENOS AIRES Apartado 64592, El Dorado, Panama, Republica de Panama Tel. 2272167 Fax (507) 2278378 / 2250431 JUAN CARLOS STURLESI, Gerente General EDUARDO E. CARO, Adscripto a Gerencia

BANCO DEL PACIFICO (PANAMA), S. A. Apartado 63100, El Dorado, Panama, Republica de Panama Tel. 2635833 Fax (507) 2692640 LUIS A. SANTAMARIA, Presidente JOSE CHUNG H., Vicepresidente y Contralor

BANCO DE OCCIDENTE (PANAMA), S. A. Apartado 67430, El Dorado, Panama, Republica de Panama Tel. 2638144 / 2638240 Fax (507) 2693261 / 2643198 OSCAR LUNA G., Gerente General MARITZA F. DE BARSALLO, Subgerente de Operaciones y Administracion

BANCO DE PRESTAMOS (PANAMA), S.A. Apartado 66670, El Dorado, Panama, Republica de Panama Tel. 2643000 / 2643891 / 2643797 Fax (507) 2234530 MIGUEL YEPEZ, Gerente de Operaciones

BANCO DE SANTA CRUZ DE LA SIERRA (PANAMA), S. A. Apartado 64416, El Dorado, Panama, Republica de Panama Tel. 2638477 Fax (507) 2638404 / 2637704 JULIO ANTELO S., Gerente General PERCY ZEBALLOS IBA8EZ, Gerente Adjunto

BANCO MERCANTIL, C. A., S.A.C.A. Apartado 62898, El Dorado, Panama, Republica de Panama Tel. 2636191 Fax (507) 2692055 RAMIRO MOLINA, Gerente General TERESA DE BOYD

BANCO POPULAR DOMINICANO (PANAMA), S. A. Apartado 5404, Panama 5, Panama, Republica de Panama Tel. 2694166 / 2694374 Fax (507) 2691309 LUCIA DE AIZPURUA, Vicepresidenta Ejecutiva y Gerente General JOSE A. SEGOVIA, Vicepresidente y Gerente Asistente

BANCREDITO (PANAMA), S. A. Apartado 66010, El Dorado, Panama, Republica de Panama Tel. 2232977 / 2232918 Fax (507) 2646781 RAISA GIL DE FONDEUR, Vicepresidente GIOVANNA DE ZISOPULOS, Gerente

BANK OF COMMERCE & FINANCE, INC. Apartado 4310, Panama 5, Panama, Republica de Panama Tel. 2236323 Fax (507) 2648795 ROBERTO R. ALEMAN Z., Presidente MARIA DE LOURDES CHANIS TEJADA, Gerente

BANQUE NATIONALE DE PARIS SUCURSAL PANAMA Apartado 201, Panama 1, Panama, Republica de Panama Tel. 2648555 Fax (507) 2636970 / 2636559 PIERRE THOME, Vicepresidente y Gerente General JULIO SAMIT, Vicepresidente Senior

CREDIT LYONNAIS Apartado 1778, Panama 9A, Republica de Panama Tel. Central: 2636522 / Tesorer1a: 2635814 / 2635956 Fax (507) 2635904 MICHEL CHATELAIN, Gerente General YVES BARES, Apoderado

FILANBANCO TRUST & BANKING, CORP. Apartado 873940, Panama 7, Republica de Panama Tel. 2694080 / 2239251 Fax (507) 2699141 ERIC A. CASTRO G., Gerente CARLOS CA8IZARES, Asesor Ejecutivo

SOCIETE GENERALE Apartado 63689, El Dorado, Rep. de Panama Tel. 2699611 / 2649191 Fax (507) 2640295 JEAN FRANCOIS GUEX, Gerente General ALAIN HOURCADE, Gerente Comercial

SWISS BANK CORPORATION, S. A. Apartado 61, Panama 9A, Panama, Republica de Panama Tel. 2637181 Fax (507) 2695995 LEONARDO CASTRO, Director, Banca Comercial y Tesorera