Regional bank has top quality portfolios

In 2006, HSBC paid $770 million to acquire operations of Banistmo in the country and Central America.

The sale of HSBC Panama operations had been decided in May 2011, as part of a strategy proposed by the holding company to focus on its biggest markets in Latin America, which are Argentina, Brazil and Mexico, reported the legal representative and general manager in Panama, Guillermo Savignano, in a statement notifying the take-over by the Panama Superintendency of Securities.

HSBC Panama has over 2,300 employees, 420,000 clients and a network across the country that includes 57 offices and 264 ATMs. HSBC Bank (Panama) S.A. is in an excellent position to continue growing, with strong capital levels and quality investment portfolios.

Furthermore, it has several business lines, including banking operations, consumer banking, stock brokerage, fiduciary services and business insurance. This comprehensive portfolio of services enables them to meet all of their clients' financial needs.

As of December 2012, it is Panama's largest bank by asset level, and is ranked first for personal and commercial loans. Nicolás Noreña, financial system analyst at Serfinco, commented to Colombia's newspaper La Republica that the institutions in this region offer not only better returns compared to those seen in Colombia's financial system, but also good investment portfolio quality.

Daniel Niño, a banking specialist, also commented to this publication that, in the particular case of Panama, “this country is very appealing due to its geographical location and because it is a point of reference for business.”

“Additionally, various of its economic indicators, such as growth, appetites of investors or revenue, confirm its importance to financial institutions,” this source reported to the Colombian press.