Grupo Cibest Sells Banistmo to Inversiones Cuscatlán

Grupo Cibest announced the sale of 100% of the shares of Banistmo, a locally licensed bank in Panama, following an agreement with Inversiones Cuscatlán Centroamérica S.A. The transaction also includes a transition process designed to protect employees, who will join Inversiones Cuscatlán, and to ensure the continuity of the financial product and service offering. Federico Nasser Facussé, president of Inversiones Cuscatlán Centroamérica, stated that the company reaffirms its long-term vision for the financial sector and its commitment to strengthening solid, people-centered institutions. The decision to sell is part of a long-term strategy focused on value creation, portfolio optimization, and strengthening the group's regional financial services offering for Latin America and its people. 'Grupo Cibest's presence in Panama will continue through Bancolombia Panama as an offshore bank and through Cibest Capital, which groups and enhances regional investment and capital market capabilities,' said Juan Carlos Mora, CEO of Grupo Cibest.