Panama

Awards of Excellence
Latin American regional awards

Best Bank: Banco General

Banco General made $22.4 million in consolidated profits during the first quarter of 2007, an increase of 16.6% on the first quarter of 2006. In January, the bank agreed a merger with Banco Continental to create the largest local bank in Panama and the second-largest bank operating in the country. Ownership of the new banking group, called BG Financial Group, will be shared 61:39 between Banco General and Banco Continental, respectively.