Banistmo II

repaid

Banistmo is an entity domiciled in Panama. It began operating in 1973 and was acquired in October 2013 by Bancolombia S.A., a financial entity that is Colombian in origin and has a net worth of US$8 billion, making it the eighth largest private bank in Latin America. Banistmo is a full-service bank regulated by Panama’s banking regulator (Superintendencia de Bancos de Panamá). It provides a wide variety of financial services both directly and through its affiliates, mainly to institutions and natural persons. In addition to consumer banking and services to corporate clients, Banistmo provides financial leasing, trust asset management and services like payment, registry, brokerage, and trading of securities.Banistmo is the second largest private bank in Panama. It had a market share of 12 percent as of March 2015 by deposits and a 14 percent market share by loan portfolio. It is a diversified bank, with 17 percent of its portfolio in the consumer sector, 27 percent in residential mortgage lending, and 56 percent in corporate lending. Banistmo has 455,000 customers, 55 branches, and more than 300 ATMs. Micro, small, and medium sized enterprises account for 63% of the total number of enterprises financed by the Bank. The rest are large corporate clients.The objective of this financing is to support small and medium-sized companies, in Panama mainly but also in Barbados, Belize, Costa Rica, the Dominican Republic, El Salvador, Guatemala, Guyana, Honduras, Jamaica, Nicaragua, Peru, Suriname, The Bahamas, and Trinidad and Tobago, where the Bank has an opportunity to grow through credit transactions to finance working capital or the purchase of fixed assets.