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 Superintendency,
the group indicated that with the completion of the transaction, it transferred
100% of Banistmo's shares to Banco La Hipotecaria, a subsidiary of Inversiones
Cuscatlán Centroamérica, for the price agreed upon when the deal was announced
(US$1.418 billion). The payment was made with La Hipotecaria's own funds and an
international syndicated loan.
As a result of
the transaction, Banistmo ceased to be a subsidiary of Grupo Cibest and became
wholly owned by the Salvadoran group.
The company
also clarified that it did not enter into any agreements with the buyer
regarding the election of board members or other relevant corporate matters.
The closing of
the sale coincides with the consolidation of a new operational structure in
Panama, from where Grupo Cibest will concentrate its international services
through three specialized vehicles: Bancolombia Panamá, Bancolombia Sucursal
Panamá, and Cibest Capital Panamá. According to the entity, this model seeks to
integrate its commercial banking, investment banking, private banking, and
capital markets capabilities into a single market, facilitating service for
individuals and companies with operations in various Latin American countries.
"Panama
has been part of our internationalization history and continues to be a place
from which we connect our clients with the world," stated Juan Carlos Mora,
president of Grupo Cibest.
The group in
Panama currently serves more than 33,800 clients, registered international
transfers exceeding US$107 billion in 2025, and managed assets of more than
US$9.487 billion as of March 2026—figures that reflect the strategic role this
operation plays within the conglomerate's international network.
The new
structure is supported by three complementary fronts. Bancolombia Panama
operates with an international license and primarily serves Colombian and
Central American clients; Bancolombia Panama Branch, established in 2012,
provides services to corporate and institutional clients; While Cibest Capital
Panama focuses on investment, private banking, and capital markets activities
for local and international investors.
According to
the financial group, this platform connects operations in Panama with Colombia,
the United States, and several Central American countries, enabling it to offer
solutions for clients with cross-border businesses and operations. The regional
network is complemented by Bancolombia's presence in Colombia, Bam in
Guatemala, Bancoagrícola in El Salvador, Cibest Capital in the United States,
and Bancolombia Puerto Rico.
"Our
focus remains on the future and aims to continue building, from Panama and from
each of the territories where we are present, a regional holding company that
connects Latin Americans with global opportunities," Mora stated.
With more than
150 years of history, Grupo Cibest reports more than 33 million customers,
assets of 106 billion dollars (about 389.1 trillion pesos as of March 2026) and
a presence in five countries, from where it offers banking, payments,
investment and financial solutions services for individuals and companies in
different markets of the region.