Grupo Cibest has confirmed it has reached an agreement with Inversiones Cuscatlán Centroamérica for the sale of 100% of the shares of Banistmo, a locally licensed bank in Panama. The transaction, which will be completed in the coming months, is subject to the corresponding regulatory authorizations.
According to the official statement, the decision is part of a long-term strategic vision focused on value creation, portfolio optimization, and strengthening the group's regional financial services offering in Latin America. The company also stated that Grupo Cibest's presence in Panama will continue through Bancolombia Panamá as an offshore bank and through Cibest Capital, focused on investments and capital market products.
Inversiones Cuscatlán affirmed that the acquisition is part of its long-term vision in the financial sector and its commitment to strengthening solid institutions in the region. The transaction includes all Banistmo's subsidiaries, including Leasing Banistmo and Banistmo Investment Corporation S.A.
While the approval process is completed, Grupo Cibest will continue to be in charge of Banistmo's operations, as well as customer and collaborator service, ensuring service continuity and operational stability during the transition.
Federico Nasser Facussé, president of Inversiones Cuscatlán Centroamérica, indicated that the group will continue to strengthen the Banistmo brand, as well as its products and services in the Panamanian market. He noted that Inversiones Cuscatlán's experience in transformation and expansion processes in Latin America, with operations in countries like El Salvador, Honduras, Guatemala, Panama, and Colombia, and a presence in banking, insurance, and mortgages, will add value.
Juan Carlos Mora, CEO of Grupo Cibest, stated that the operation will allow the group to concentrate its differential capabilities and that the regional experience of Inversiones Cuscatlán will bring value to the clients.
