Panama solidifies its position in the top 3 in the region for financial inclusion, according to Credicorp. In the fifth edition of the Financial Inclusion Index (IIF) 2025, Panama scored 55.5 points, ranking third in Latin America, behind Argentina and Chile. The Central American nation maintains a positive trend throughout the five editions of the IIF, reflecting a cumulative increase of nearly 3 points, rising from 52.6 in 2021 to 55.5 in 2025.
Key strengths include outstanding performance in perceived quality and knowledge of financial products. 69% of Panamanian citizens have at least one financial product, a figure surpassed only by Argentina and Colombia at the Latin American level, highlighting the integration of these digital products into daily life. The use of these platforms is also widespread; 49% of Panamanians use them for payments and purchases, a percentage much higher than the regional average (22%).
The report analyzes financial inclusion through three fundamental pillars, highlighting Panama's performance in each:
1. **Access and knowledge of products.** In the Access dimension, Panama reached 59 points in 2025, achieving the second place in the region behind Argentina. The country also leads in knowledge of financial products, with an average of 11 products recognized by the population, significantly surpassing the regional average of 8.
2. **Usage and frequency of transactions.** Regarding the Usage dimension, Panama scored 39 points, showing a notable increase in the monthly frequency of use of financial products, which rose to 14 times. The report shows that 42% of the Panamanian population is at the 'Reached' level of financial inclusion, an increase of 4 percentage points compared to 2021.
3. **Trust and Perceived Quality.** Panama leads the region in Perceived Quality with 69 points, excelling in the indicator of trust in the financial system, with a score of 3.32, the highest among the evaluated countries.
A distinctive feature of the study is the high level of adoption of mobile wallets in Panama. Wallets are the most used means for making transfers (68%), surpassing mobile banking, internet, or money transfer companies. This transformation in consumption habits is evidenced by the fact that only 14% of the population still receives their income in cash, marking a clear migration towards safer and more modern forms of monetary management.
Gianfranco Ferrari, CEO of Credicorp, stated that the Financial Inclusion Index is an essential tool for monitoring gaps, providing valuable information for the design of public policies and encouraging business innovation aligned with the population's needs.
