The Superintendence of Banks of Panama (SBP) reported on Friday that it concluded the forced liquidation of Banca Privada D'Andorra (Panamá) S.A., initiated in 2017 following an almost two-year intervention prompted by U.S. money laundering accusations against the group.
The reorganization process to recover Banca Privada D'Andorra in Panama began after its intervention on March 11, 2015, one day after the U.S. Department of the Treasury announced its censure of the bank for money laundering.
When announcing the intervention, the SBP clarified that there was no evidence that the bank in Panama was linked to these illicit acts, but it was decided to take control of the institution to promote confidence in the Panamanian banking system.
However, a binding offer from a potential buyer expired on November 28, 2016, according to the report of the bank's Reorganizer in Panama, the SBP informed in January 2017 when ordering its liquidation.
Unclaimed deposits, on the other hand, were remitted to the National Bank of Panama, as established by the country's Banking Law, added the official letter.
The Andorran National Institute of Finance (INAF) intervened on March 10, 2015, in the Banca Privada D'Andorra Banking Group, the same day the U.S. Department of the Treasury's accusations were made public.
The regulatory body indicated in a brief statement that the resolution ending the process is dated October 22, 2025, and assures that "The Liquidation paid the total of the claims to all clients who appeared and presented the necessary documentary evidence".
It is indicated that the headquarters in the Andorran capital facilitated, in exchange for commissions, transactions for persons linked to funds from illicit activities, including movements for organizations in Russia, China and others, related to the diversion of millions of dollars from the Venezuelan state oil company, Pdvsa.
