Banking Guide Panama – Comparison Table
Panama Bank Account
Opening a bank account in Panama? This clear comparison table helps you quickly identify which banks welcome foreigners, offer English services, and suit your needs—whether you’re from North America, Europe, or Asia.
Key insights for expats:
- Many banks accept non-residents (no local address required)
- Dollarized economy – no currency risk
- International-friendly options with English support
We recommand to read more about „how to open a bank account in Panama“ in this blog article: more
Need help opening an account? Contact us for personalized assistance—we simplify the process!
Banking Guide Panama
| Bank | Depósito Totales | Credit Rating | Private Clients? | English Services? | Term Deposit for Non-Residents? | Popular Among |
|---|---|---|---|---|---|---|
| Banco General S.A. | $14.21B | BBB (Fitch) | Yes | Yes | ✅ Yes | North America, Europe |
| Banco Nacional de Panamá | $11.57B | BBB (Fitch) | Yes | Yes | ✅ Yes | Locals, some expats |
| Banistmo S.A. | $7.34B | BBB (Fitch) | Yes | Yes | ✅ Yes | North America, Europe |
| BAC International Bank Inc. | $6.94B | BB+ (Fitch) | Yes | Yes | ✅ Yes | North America, LatAm |
| Global Bank Corporation | $5.89B | BBB- (Fitch) | Yes | Yes | ✅ Yes | North America, Europe |
| Caja de Ahorros | $5.52B | Not Rated | Yes | Limited | ❌ No (Residency required) | Locals only |
| BLADEX | $5.45B | BBB (Fitch) | No (Corporate focus) | Yes | ❌ No (Corporate only) | N/A |
| Bancolombia Panamá S.A. | $4.74B | BB+ (Fitch) | Yes | Yes | ✅ Yes | LatAm, some Europe |
| Banesco Panamá S.A. | $4.37B | BB (Fitch) | Yes | Yes | ✅ Yes | LatAm, some Europe |
| Bank of China Limited | $4.00B | A (Fitch) | Yes | Yes | ✅ Yes | Asia, Expats |
| The Bank Of Nova Scotia | $3.72B | AA- (S&P) | Yes | Yes | ✅ Yes | North America, Europe |
| Multibank Inc. | $3.45B | BBB- (Fitch) | Yes | Yes | ✅ Yes | North America, Europe |
| Banco Aliado S.A. | $3.19B | BB+ (Fitch) | Yes | Yes | ✅ Yes | Locals, some expats |
| Mercantil Banco S. A. | $3.05B | BB (Fitch) | Yes | Yes | ✅ Yes | LatAm, some Europe |
| Banco de Bogotá S.A. | $1.80B | BB+ (Fitch) | Yes | Yes | ✅ Yes | LatAm, some Europe |
| Banco Davivienda Panamá S.A. | $1.65B | BB (Fitch) | Yes | Yes | ✅ Yes | LatAm, some Europe |
| St. Georges Bank & Company Inc. | $1.60B | Not Rated | Yes | Yes | ✅ Yes | North America, Offshore |
| Bi-Bank S.A. | $1.49B | Not Rated | Yes | Limited | ❌ No (Residency required) | Locals only |
| Metrobank S.A. | $1.47B | Not Rated | Yes | Limited | ❌ No (Residency required) | Locals only |
| Credicorp Bank S.A. | $1.38B | BBB (Fitch) | Yes | Yes | ✅ Yes | LatAm, some Expats |
| Banco Internacional de Costa Rica S.A. | $1.15B | Not Rated | Yes | Limited | ❌ No (Residency required) | LatAm |
| Popular Bank Ltd. Inc. | $1.14B | Not Rated | Yes | Yes | ✅ Yes | North America, Offshore |
| Banco Ficohsa Panamá S. A. | $1.12B | BB (Fitch) | Yes | Limited | ❌ No (Residency required) | LatAm |
| ASB Bank Corp. | $1.10B | Not Rated | Yes | Yes | ✅ Yes | Offshore, some / |
| Banco de Occidente Panamá S.A. | $986.80M | BB (Fitch) | Yes | Limited | ❌ No (Residency required) | LatAm |
| Bancolombia S.A. | $953.09M | BB+ (Fitch) | Yes | Yes | ✅ Yes | LatAm, some Europe |
| Towerbank International Inc. | $824.39M | Not Rated | Yes | Yes | ✅ Yes | Offshore, some / |
| Citibank N.A. Sucursal Panamá | $805.84M | AA- (S&P) | Yes | Yes | ✅ Yes | North America, Corporate |
| BHD International Bank Panamá S.A. | $733.08M | Not Rated | Yes | Limited | ❌ No (Residency required) | LatAm |
| Banco Lafise Panamá S.A. | $713.28M | Not Rated | Yes | Limited | ❌ No (Residency required) | LatAm |
| BCT Bank International S.A. | $669.24M | Not Rated | Yes | Yes | ✅ Yes | Offshore, some / |
| Banco Pichincha Panamá S. A. | $645.61M | BB- (Fitch) | Yes | Limited | ❌ No (Residency required) | LatAm |
| Banisi S.A. | $589.39M | Not Rated | Yes | Limited | ❌ No (Residency required) | Locals only |
| Canal Bank S.A. | $560.66M | Not Rated | Yes | Yes | ✅ Yes | Offshore, some / |
| Banco Prival S.A. | $546.23M | Not Rated | Yes | Yes | ✅ Yes | Offshore, some / |
| ITAÚ PANAMÁ S.A. | $504.76M | BBB- (Fitch) | Yes | Yes | ✅ Yes | LatAm, some Europe |
| Unibank S.A. | $501.64M | Not Rated | Yes | Limited | ❌ No (Residency required) | Locals only |
| GNB Sudameris Bank S.A. | $485.41M | Not Rated | Yes | Limited | ❌ No (Residency required) | LatAm |
| Banco La Hipotecaria S. A. | $426.81M | Not Rated | Yes | Limited | ❌ No (Residency required) | Locals only |
| KEB Hana Bank | $389.68M | A (Fitch) | Yes | Yes | ✅ Yes | Asia, some Expats |
| Mega International Commercial Bank | $385.00M | A+ (Fitch) | Yes | Yes | ✅ Yes | Asia, some Expats |
| MMG Bank Corporation | $367.54M | Not Rated | Yes | Yes | ✅ Yes | Offshore, some / |
| BBP BANK S.A. | $354.59M | Not Rated | Yes | Limited | ❌ No (Residency required) | Locals only |
| Banco Delta S.A. | $223.88M | Not Rated | Yes | Limited | ❌ No (Residency required) | Locals only |
| Banco Davivienda Internacional Panamá S.A. | $210.16M | BB (Fitch) | Yes | Yes | ✅ Yes | LatAm, some Europe |
| BPR BANK S.A. | $188.70M | Not Rated | Yes | Limited | ❌ No (Residency required) | Locals only |
| Allbank Corp. | $156.99M | Not Rated | Yes | Yes | ✅ Yes | Offshore, some / |
| Austrobank Overseas Panamá S.A. | $137.54M | Not Rated | Yes | Limited | ❌ No (Residency required) | Europe (niche) |
| Inteligo Bank Ltd. | $76.50M | Not Rated | Yes | Yes | ✅ Yes | Offshore, some / |
| Banco de Crédito del Perú | $74.85M | BBB (Fitch) | Yes | Yes | ✅ Yes | LatAm, some Europe |
| Atlas Bank Panamá S.A. | $43.31M | Not Rated | Yes | Limited | ❌ No (Residency required) | Offshore (niche) |
| Banco Credit Andorra Panamá S. A. | $41.78M | Not Rated | Yes | Limited | ❌ No (Residency required) | Europe (niche) |
| Banco Azteca Panamá S.A. | $26.00M | Not Rated | Yes | Limited | ❌ No (Residency required) | LatAm |
| Industrial and Commercial Bank of China | $20.00M | A (Fitch) | Yes | Yes | ✅ Yes | Asia, some Expats |
Disclaimer
The information in this table is provided for general informational purposes only and should not be construed as financial, legal, or investment advice. While we strive to ensure accuracy, bank policies, ratings, and deposit requirements may change.
Data Sources & Limitations:
- Primary Source: Deposit totals and regulatory status are sourced from public reports by Panama’s Superintendencia de Bancos de Panamá (SBP) (as of [insert date, if available]).
- Credit Ratings: Ratings (e.g., BBB, AA-) are from third-party agencies (Fitch, S&P) and may differ by reporting period.
- Non-Resident Policies: Term deposit eligibility for non-residents is based on bank website disclosures and may require additional documentation.
No Guarantees:
-
-
- We do not endorse any bank listed. Always verify terms directly with the institution before opening an account.
- Panama’s banking regulations are subject to change; consult the SBP (www.superbancos.gob.pa) or a financial advisor for updates.
-
