The renowned bank Banistmo, which was previously known as HSBC, concentrate its operations in the country through its parent company, which will be located in the new Soho Mall. To do this, it is expected that the investment is around U.S.$ 100 million, shall include, in addition to the new headquarters, investment in technology issues and channels.

Gogetit Highlights

* Banistmo will invest about U.S.$ 100 million in Panama, specifically in the areas of technology and channels.

* The Banistmo headquarters will be located in the new Soho Mall at Calle 50.

* With this large investment, Banistmo seeks, among other things, continue being present in the country’s financial system and contribute to its economic development.

World renowned bank HSBC, purchased by Bancolombia and established in Panama under the name of Banistmo, has announced that this year, will make a large investment of around U.S.$ 100 million, mainly in the areas of technology, channels and Banistmo’s new headquarters in Soho Mall.

According to information published by La Estrella website, president of Bancolombia, Carlos Raul Yepes Jimenez, said that “Banistmo’s financial performance is very positive, including last year exceeded our expectations, and has been consolidating slowly and this is a story modernization in which we learn of Panamanians and Panama took experience and knowledge in virtual, digital and electronic products.” Besides investing in the new headquarters in Panama, they are also upgrading the core banking technology or platform, which will bring more investment from Bancolombia, apart from the U.S.$ 100 million.

Despite the slight economic slowdown that Panama has had in recent months, the economy remains relevant with good growth in the midst of a world where there is decline and weak growth. Yepes said that “for us, Panama is the hub of Central America, the Bancolombia Group, with Banistmo, have the most important international financial center entity, at least in terms of assets, where we already have U.S.$ 15 billion.”

Read more information here (Article in Spanish).

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Silvia Merida Pellicer
Gogetit Content Manager. Author of important reviews for Gogetit News, “The #1 Source for real estate news in Panama.”
Specialized in the search and analysis of the most important news about real estate in Panama.