# Banistmo

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> Source: https://en.wikipedia.org/wiki/Banistmo
> Source revision: 1340969750
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{{Short description|Panamian bank}}
{{Infobox company 
| name = Banistmo S.A.
| logo = Banistmo-2023-logo.png
| image = Banistmo.jpg
| type =  
| caption = 
| predecessor = Banistmo (1984-2009)<br>[HSBC Bank Panama](/source/HSBC_Bank_Panama) (2009-2013)
| foundation = 1984
| defunct = 
| location = [Panama City](/source/Panama_City), [Panama City](/source/Panama_City)
| industry = Banking
| key_people = 
| products = [First Direct](/source/First_Direct)
| num_employees =
| parent = [Bancolombia](/source/Bancolombia) 
| subsid =
| homepage = [https://www.banistmo.com/ banistmo.com]
}}

'''Banistmo''' is the largest [bank](/source/bank) in [Panama](/source/Panama) and [Central America](/source/Central_America). It was founded in 1984 as '''Primer Banco del Istmo''' before it became part of the [HSBC Group](/source/HSBC) following its former parent company, [Grupo Banistmo](/source/Grupo_Banistmo)'s acquisition by [HSBC](/source/HSBC) in November 2006. It was the [subsidiary](/source/subsidiary) of [HSBC Bank (Panama) S.A.](/source/HSBC_Bank_Panama) until it merged into HSBC Bank (Panama) in 2009. In 2013 [Bancolombia](/source/Bancolombia) Group acquired HSBC Panama and renamed it as Banistmo.<ref>{{cite web|url=https://finance.yahoo.com/news/hsbc-divest-panama-unit-215203591.html|title=HSBC to Divest Panama Unit|publisher=}}</ref><ref>{{cite web|url=https://www.hsbc.com/news-and-insight/media-resources/media-releases/2013/hsbc-to-sell-hsbc-bank-panama-to-bancolombia|title=HSBC to sell HSBC Bank (Panama) SA to Bancolombia - Announcement|publisher=}}</ref>

thumb|right|Former Banistmo logo used between 1984 and 2009

In the mid-2020s, Banistmo operated as a locally licensed Panamanian bank within Grupo Cibest, the holding company of Bancolombia, participating in regional financial markets through corporate bond issuances and sustainable finance initiatives.<ref name=lexlatin>{{cite news |title=Banistmo emite el primer bono sostenible del mercado de valores de Panamá |url=https://lexlatin.com/noticias/banistmo-primer-bono-sostenible-mercado-valores-panama |newspaper=LexLatin |date=2025-10-21 |access-date=2026-02-28 |language=Spanish}}</ref><ref name=eleconomista>{{cite news |title=Grupo Cibest acuerda vender el banco panameño Banistmo a Inversiones Cuscatlán |url=https://eleconomista.net/economia/grupo-cibest-acuerda-vender-el-banco-panameno-banistmo-a-inversiones-cuscatlan-20251218-0005.html |newspaper=El Economista |date=2025-12-18 |access-date=2026-02-28 |language=Spanish}}</ref>

In December 2025, Grupo Cibest announced an agreement to sell 100% of Banistmo shares to Inversiones Cuscatlán Centroamérica S.A., with an agreed sale price of approximately US$1.4 billion, subject to regulatory approval in Panama.<ref name=bloomberglinea>{{cite news |last=Cuevas |first=Carlos |title=Los detalles del acuerdo entre Grupo Cibest e Inversiones Cuscatlán por la venta de Banistmo |url=https://www.bloomberglinea.com/latinoamerica/panama/los-detalles-del-acuerdo-entre-grupo-cibest-e-inversiones-cuscatlan-por-la-venta-de-banistmo/ |newspaper=Bloomberg Línea |date=2025-12-19 |access-date=2026-02-28 |language=Spanish}}</ref><ref name=larepublica>{{cite news |title=Estas son las razones de la venta de Banistmo en Panamá por parte del Grupo Cibest |url=https://www.larepublica.co/finanzas/razones-de-la-venta-de-banistmo-por-parte-del-grupo-cibest-4294396 |newspaper=La República |date=2025-12-20 |access-date=2026-02-28 |language=Spanish}}</ref>

==Operations==

By the mid-2020s, Banistmo operated in Panama as a locally licensed bank within Grupo Cibest, the holding company of Bancolombia.<ref name=lexlatin/> Grupo Cibest maintained a regional presence through affiliated financial entities in Colombia, Guatemala, El Salvador, Puerto Rico and the United States.<ref name=eleconomista/>

==Sustainable finance==

In September 2025, Banistmo issued sustainable bonds in Panama’s domestic capital market for a total of US$100 million with a five-year maturity, becoming the first financial institution in the country to complete such an issuance.<ref name=lexlatin/> The bond proceeds were allocated to green and social projects, including renewable energy, sustainable construction, energy efficiency, clean mobility and circular economy initiatives, and aimed to expand access to financing for small and medium-sized enterprises led by women.<ref name=lexlatin/>  

BID Invest acted as an anchor investor in the transaction, subscribing US$75 million of the offering.<ref name=lexlatin/>

==Sale to Inversiones Cuscatlán==

In December 2025, Grupo Cibest announced an agreement to sell 100% of Banistmo’s shares to Inversiones Cuscatlán Centroamérica S.A.<ref name=eleconomista/> The sale included all subsidiaries of Banistmo, such as Leasing Banistmo and Banistmo Investment Corporation S.A.<ref name=eleconomista/>  

Financial media reported the agreed sale price at approximately US$1.4 billion, with ''Bloomberg Línea'' citing US$1.428 billion and ''La República'' reporting US$1.418 billion.<ref name=bloomberglinea/><ref name=larepublica/>

The agreement remained subject to regulatory approval in Panama, and Grupo Cibest stated it would continue to operate Banistmo and serve its clients and employees during the transition.<ref name=forbes.co>{{cite news |title=Grupo Cibest le vende su banco en Panamá, Banistmo, a conglomerado centroamericano |url=https://forbes.co/2025/12/19/negocios/grupo-cibest-sale-de-panama-con-la-venta-total-de-banistmo |newspaper=Forbes Colombia |date=2025-12-19 |access-date=2026-02-28 |language=Spanish}}</ref><ref name=ensegundos>{{cite news |author=Redacción, Ensegundos.com.pa |title=Inversiones Cuscatlán adquiere 100% de acciones de Banistmo Panamá |url=https://ensegundos.com.pa/2025/12/19/inversiones-cuscatlan-adquiere-100-de-acciones-de-banistmo-panama/ |newspaper=En Segundos |date=2025-12-19 |access-date=2026-02-28 |language=Spanish}}</ref>

''Bloomberg Línea'' reported that JPMorgan acted as financial adviser and Sullivan & Cromwell provided legal counsel for the transaction.<ref name=bloomberglinea/>  

Grupo Cibest characterised the divestment as part of a broader portfolio optimisation strategy focused on capital allocation and value creation in the Latin American region.<ref name=larepublica/><ref name=eleconomista/>

==Financial and accounting impact==

The sale of Banistmo had a significant accounting impact on Grupo Cibest’s 2025 financial results, as the bank was reclassified as an “asset held for sale” and a discontinued operation under IFRS 5.<ref name=eltiempo>{{cite news |last=García Mahecha |first=Carlos Arturo |title=El ‘efecto Banistmo’ sacudió el cuarto trimestre, pero Grupo Cibest salvó el año con $ 3,8 billones en ganancias |url=https://www.eltiempo.com/economia/sector-financiero/el-efecto-banistmo-sacudio-el-ano-con-3-8-billones-en-ganancias-3534868 |newspaper=El Tiempo |date=2026-02-23 |access-date=2026-02-28 |language=Spanish}}</ref><ref name=valoraanlitik>{{cite web |last=Cardona |first=Andrés |title=Grupo Cibest profundiza impactos por venta de Banistmo y por qué decidió salir de Panamá |url=https://valoraanlitik.com/grupo-cibest-profundiza-impactos-venta-banistmo/ |website=Valora Analitik |publisher=Valora Analitik |date=2026-02-24 |access-date=2026-02-28 |language=Spanish}}</ref>

As a result, Grupo Cibest recognised a non-cash goodwill impairment charge of approximately COP 3.4 trillion, which materially distorted quarterly and annual reported results, although executives stated that the impairment did not involve cash outflows or impact regulatory capital ratios.<ref name=valoraanlitik/>

Despite the accounting effect, Grupo Cibest reported consolidated net income attributable to shareholders of COP 3.82 trillion for 2025.<ref name=eltiempo/><ref name=valoraanlitik/>

==See also==
{{Portal|Banks}}
*[HSBC Mexico](/source/HSBC_Mexico)
*[HSBC Bank (Panama)](/source/HSBC_Bank_(Panama))
*[Alberto Vallarino Clement](/source/Alberto_Vallarino_Clement)
*[List of banks in Panama](/source/List_of_banks_in_Panama)

==References==
{{Reflist}}Category:Banks of Panama
Category:HSBC acquisitions
Category:Companies based in Panama City

{{Bank-stub}}
{{Panama-stub}}

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Adapted from the Wikipedia article [Banistmo](https://en.wikipedia.org/wiki/Banistmo) by Wikipedia contributors ([contributor history](https://en.wikipedia.org/wiki/Banistmo?action=history)). Available under [Creative Commons Attribution-ShareAlike 4.0 International](https://creativecommons.org/licenses/by-sa/4.0/). Changes may have been made.