Primer Banco del Istmo
Alberto Vallarino, CEO
1. What makes your country attractive to investors?
Panama continues to be attractive to investors on account of its unique geographic location, the Panama Canal and its important (and growing) role in world commerce. In addition, its economy is both dollarised and open, with low inflation and a well-developed banking system. Further, the latter factors have contributed to the development of a highly diversified, services-based economy and an excellent communications and transportation infrastructure.
2. What are the economic prospects for your country over the next three to five years?
They are very positive. Panama’s economy has been growing steadily, driven mainly by the construction, banking, container-ports and tourism sectors of the economy. The approval of CAFTA and the region’s growing economic integration, the implementation of the Puebla-Panama Plan, and the expansion of the Panama Canal are likely to lead in the coming years to significant, incremental investment flows and to robust GDP growth.
3. How do you foresee the financial sector in your country changing?
We expect the already-evident economic integration within the region to both accelerate and deepen. Panama’s financial sector, on account of the factors mentioned above, will continue to play a leadership role in terms of intermediating the commercial and capital flows these developments are generating. Panama’s leading financial institutions will also be important players in the consolidation dynamic these trends are likely to unleash.
4. What role will your bank play in your country's future development?
Primer Banco del Istmo is the region’s leading financial institution, present in seven countries (namely Panama, Colombia, Costa Rica, Nicaragua, Bahamas, Honduras and El Salvador). Hence, we are uniquely positioned to address the needs of both individuals and corporations operating out of and through Panama as the trends and developments mentioned above unfold and accelerate.
