List of banks in Panama

The first attempts to create a banking institution in Panama date back to the time when the country was part of Gran Colombia; in 1826 the "Revenga Project" was created, which attempted to establish a national bank for Gran Colombia that would have its headquarters in Bogotá and three other branches located in Caracas, Guayaquil and Panama City; however, the project was never completed and the idea was discarded.

In 1866 the Exchange Bank of Colon appeared, also in charge of issuing banknotes, but it quickly disappeared due to breach of contract in 1873.

The latter changed its name to the current Banco Nacional de Panamá, which initially financed the agricultural and livestock activity of that country.

On July 8, 1941, Law 101 was passed, regulating banking activity in Panama, leaving the Ministerio de Hacienda y Tesoro (Ministry of Finance and Treasury) in charge of controlling the banking system and the Contraloría General de la República (Comptroller General of the Republic) in charge of supervising it.

Despite this, activity grew rapidly and without major controls, so the government had to adopt legal measures to avoid financial problems.