Panama Business & Economy News

  Cibest Group Completes Sale of Banistmo and Makes Panama its Regional Financial Platform Banistmo was acquired by Banco La Hipotecaria, a subsidiary of Inversiones Cuscatlán Centroamérica, which paid Cibest Group approximately US$1.418 billion. In the Central American country, the Colombian group serves more than 33,800 clients and manages assets of nearly US$9.5 billion. Source: Bllomberg Cibest Group, parent company of Bancolombia, officially announced the closing of the sale of Banistmo this Tuesday. This transaction, announced in December 2025, marks a new chapter in the internationalization strategy of the Colombian financial conglomerate. The transaction leaves Banistmo under the control of Inversiones Cuscatlán and, at the same time, redefines the group's presence in Panama as a regional hub for its banking, investment, and capital markets businesses, according to its executives. In a statement to the market, through relevant information from the Financial Superi...

  S&P Global Ratings Raises Bladex's Long-Term Rating to BBB+ with a Stable Outlook Bladex serves banks and large corporations across the Americas. Founded in Panama in 1977 with the backing of 23 central banks and the participation of other institutions, its mission is to promote regional foreign trade. Source: EFE S&P Global Ratings raised Bladex's long-term global scale credit rating from 'BBB' to 'BBB+' with a stable outlook, based on the bank's strong asset quality and capitalization, as well as its diversified portfolio, among other factors, the Panama-based bank announced Monday. S&P Global Ratings reaffirmed Bladex's short-term rating at 'A-2', upgraded the bank's senior unsecured notes to 'BBB+', and its hybrid primary capital (AT1) notes to 'BB'. In its report, the agency explains that the rating upgrade reflects the strength of Bladex's risk profile, underpinned by the resilience of its business mode...

  BAC Panama Completes Operational Merger with Multibank BAC Panama has completed its operational merger with Multibank, marking the beginning of a new era for its clients, employees, and the country. Following authorization from the Superintendency of Banks of Panama, both banks now operate as a single entity, after completing the integration process. Source: Destino Panamá (Panama Business Economy News). With combined assets exceeding $45 billion and a loan portfolio surpassing $32 billion, BAC Panama is positioned as the leading bank in the region in terms of asset and portfolio size. As a result of the merger, Panama expands its presence within BAC's regional network, representing approximately 31% of the group's loan portfolio and deposits, compared to 21% and 23%, respectively, within the organization. The entity is part of a regional financial platform with an investment-grade rating, management backed by a solid track record and rigorous standards of management and corp...

  JP Morgan believes the reopening of Cobre Panamá could represent 4% of GDP by 2027. The financial institution considers that the return of mining operations could become one of the main drivers of economic growth, public finances, and investor confidence in Panama. Source: El Panamá América (Panama Business Economy News). Panama continues to strengthen its position as one of the economies with the best growth prospects in Latin America. This is reflected in a recent JP Morgan report, which incorporates the reopening of Cobre Panamá into its baseline scenario for the second half of 2027 and identifies it as one of the factors with the greatest potential to boost the national economy in the coming years. The analysis is part of a broader assessment of the country's fiscal and economic outlook. In it, the institution highlights that Panama maintains favorable conditions for preserving its investment grade rating, supported by progress in fiscal consolidation, economic performance, a...

  Panama's Balboa, Cristobal ports see recovery in container transit Panama's container transit at Balboa and Cristobal ports has shown a positive trend towards recovery after a slump in February, with significant increases in May. Source: Reuters   (Panama Business News). Panamas Ports Authority On Monday June 22nd Said That Container Transit Along Its Balboa And Cristobal Ports Saw A Positive Trend Towards Recovery Following The Slump In Transit Seen In February After The Government Annulled Key Contracts And Took Control Of The Administration Of The Ports The Balboa Port. Panama's ​Ports ‌Authority on Monday said ​that container transit along ‌its Balboa and Cristobal ports saw a positive trend towards recovery ‌following the slump in transit ‌seen in February after the government annulled key contracts and took control ​ of the administration of the ports. The Balboa port, on the country's Pacific coast, saw container transit reach 221,536 moves in May fro...