The Bank, Banesco Panamá, Ratings Lifted to A+ by Fitch

Banesco Panama announced that Fitch Ratings raised its long-term national rating to A+ (pan), with a Stable outlook, the highest rating achieved by the entity since the start of its operations in the country.  This result marks a new milestone in the history of Banesco Panamá, which this year celebrates 19 years of presence in the Panamanian market. Furthermore, it represents the third rating upgrade awarded by Fitch Ratings in the last five years, demonstrating the bank’s positive evolution, the consistency of its financial management, and the strengthening of its position within the national banking system. 

According to Fitch Ratings, Banesco Panama’s rating is based on the bank’s financial performance, the stability of its metrics, as well as a solid funding and liquidity position compared to its close peers.  “We received this news with enormous pride, because it represents recognition of the path we have built in Panama with discipline, responsibility, and a long-term vision. Achieving the A+ (pan) rating confirms the confidence in our management and in our team’s ability to sustain the growth of Banesco Panama,” said Alfonso Prieto, CEO of Banesco Panama. 

Prieto emphasized that this progress takes on special significance within the context of the bank’s 19 years of operation in the country.  “We thank our clients for the trust they place in us every day, our shareholders and partners for their support, and the entire Banesco team for the commitment that makes each achievement possible. This result motivates us to continue with a close, responsible, and future-oriented approach,” he added.  The improved rating reaffirms Banesco Panama’s ability to maintain stable operations, strengthen its value proposition, and contribute to the country’s economic development through a banking approach focused on trust, innovation, and close customer relationships.