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| Industry | Financial services |
|---|---|
| Founded | 1984; 41 years ago (1984) |
| Defunct | 2006 (2006) |
| Fate | Acquired byHSBC Holding |
Key people | Alberto Vallarino Clement (President/CEO) |
Grupo Banistmo was aPanamanian financial services company, and the largest inCentral America. It was founded in 1984. In 1999 it began an expansion strategy that has resulted in the acquisition of banks in several Central American countries, as well asColombia and theBahamas. It was the holding company ofPrimer Banco del Istmo, S.A. orBanistmo, the largest bank in Panama. Its President andChief Executive Officer wasAlberto Vallarino. In November 2006 it was acquired byHSBC Holdings plc,[1] and merged withHSBC Bank (Panama) S.A., the bank's existing subsidiary in 2007. In 2013Bancolombia Group acquired HSBC Panama and renamed it Banistmo.[2]
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| Principal local banks | ||
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| Minority stakes and JVs |
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