Many expats and foreigners living in Panama are familiar with Banistmo. It is one of the most widely used banks in the country for everyday banking, salaries, online payments, and local transfers. This week, Banistmo announced a major change that is worth understanding if you hold an account or plan to open one.
What happened?
Banistmo’s parent company, Grupo Cibest, has reached an agreement to sell 100 percent of Banistmo to Inversiones Cuscatlán Centroamérica. The agreed price for the transaction is US$1.418 billion, subject to standard regulatory approvals in Panama.
The sale is not yet finalized, but once completed, Banistmo will operate under new ownership while continuing its banking activities in Panama.
Who is the new owner?
Inversiones Cuscatlán Centroamérica is a long-established financial group with operations across Central America. It owns and manages several banks and financial institutions in the region, including Banco Cuscatlán and La Hipotecaria in Panama, El Salvador, and Colombia.
For expats, the key point is that this is not a new or untested group. Cuscatlán has decades of experience operating regulated banks in the region.
Will this affect your Banistmo account?
According to information shared internally by Grupo Cibest:
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Client accounts remain active.
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No immediate changes are expected to products, online banking, debit cards, or branches.
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Banistmo’s employees and operational teams will stay in place after the transaction closes.
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The transition includes continued support for both customers and staff.
In short, day-to-day banking should continue as normal while the ownership transition is completed.
What happens to Grupo Cibest in Panama?
Grupo Cibest will still maintain a presence in Panama through other financial operations, including offshore and capital markets services under Bancolombia and Cibest Capital. Banistmo itself, however, will no longer be part of that group once the sale is finalized.
Why this matters to expats and newcomers
For many foreigners in Panama, choosing a bank comes down to stability, regional experience, and regulatory oversight. This transaction signals:
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Continued institutional confidence in Panama’s banking system.
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A regional banking group increasing its footprint in Panama.
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No indication of disruption to retail or personal banking services.
While any bank ownership change naturally raises questions, this one appears structured, well-capitalized, and focused on continuity.
Bottom line
If you bank with Banistmo, there is no action required at this stage. Accounts, access, and services remain unchanged while regulators review and approve the transaction. Once finalized, Banistmo will enter a new chapter under Cuscatlán ownership, backed by a group with strong regional experience.
Article written on: December 21, 2025
