Which can be both local and international

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These types of banks usually offer more competitive rates than international banks, as well as many branches and a wide network of ATMs in the country. Although their international services may be more limited, they are still an excellent alternative for foreigners.

Offshore banks are institutions that offer banking kenya phone number library services to foreign clients, companies and individuals seeking maximum privacy, confidentiality and the possibility of managing funds in different tax jurisdictions. In this sense, this Central American country is very popular for offshore banks due to its tax advantages. In this group we find Euobank and Banco Panama Offshore .

What advantages do these types of banks offer? As you already know, the possibility of having maximum privacy and confidentiality, as well as being able to make international transactions with ease and receiving personalized advice if you have considerable assets. Of course, maintaining an account of this type is more expensive than doing so at a local bank.


In Panama, we also find private banks, depending on their origin and the way they offer their services. But, in general terms, they target clients who have a high net worth, providing exclusive financial advice, investment management, estate planning and many other services aimed at maximizing their wealth.

In this group we find Banistmo Private Banking , which is a division specialized in high net worth clients of the Banistmo network (one of the largest local banks in Panama). Among the private banks focused on international clients are Morgan Stanley Private Bank and JPMorgan Chase Private Bank. .