Banco de Bogotá has taken a significant step in Panama by announcing an agreement to acquire Itaú's portfolio of natural person clients. This transaction also involves Colombia but directly impacts the Panamanian banking market. The deal includes assets and liabilities of approximately 267,000 clients across both countries, with an estimated volume of 6.5 trillion pesos in consumer and housing loans and 4.1 trillion pesos in deposits. These figures reinforce the group's presence in the region and, in particular, its bet on the banking business in Panama. Once the operation is completed and regulatory approvals are obtained, Banco de Bogotá will expand its customer base and market share, strengthening the natural persons segment, which is key in the Panamanian financial system where banking competition is becoming increasingly intense. The President of Banco de Bogotá, César Prado, highlighted that this acquisition is part of the group's corporate strategy and allows it to consolidate its growth in strategic markets such as Panama. "It is a step that improves our scale, complements our portfolio, and reinforces the strength with which we compete," he stated. Itaú, for its part, explained that the sale of its retail banking in Panama is part of a strategy reorganization, focusing on Itaú Corporate, which concentrates business with companies, treasury, and its financial subsidiaries in the country. Despite the adjustment, Itaú assured that it maintains its commitment to Panama and Colombia and will continue to operate in the region with a long-term vision, while advancing in strengthening its corporate lines. Grupo Aval, to which Banco de Bogotá belongs, already has a presence in Panama through Multi Financial Group, so this operation further consolidates its financial footprint in the country and confirms that Panama remains a key hub for regional banking.
