Bolivian bank Banco BISA to open office in Panama

Banco BISA, headquartered in Bolivia, is set to expand its operations by opening an office in Panama following the acquisition of an international license. The Superintendencia de Bancos de Panamá (SBP) confirmed the development, marking a significant step for the Bolivian financial institution.

With this new license, Banco BISA will become part of Panama's International Banking Center (CBI), an established hub that currently includes 62 institutions. The license permits the bank to conduct transactions that are finalized, consumed, or have effects outside of Panama, along with other authorized activities, positioning it to engage in international financial operations.

Banco BISA is part of the Grupo Financiero BISA, S.A., an organization with over six decades of experience that has established itself as a leading financial entity in Bolivia. The group offers a comprehensive suite of products and services, and its expansion into Panama is seen as a move to further solidify its regional presence.

The SBP highlighted that Banco BISA's incorporation is a positive development for the CBI, enhancing the center's diversity with a recognized financial institution. This move underscores Panama's appeal as a strategic platform for international banking services. The CBI has demonstrated favorable performance, characterized by ample liquidity, robust solvency, positive profitability, and orderly balance sheet expansion, according to a May report from the SBP. This stability aligns with Panama's broader economic context, which has seen moderate growth driven by sectors like the Canal, trade, finance, and construction.