A Merger by Absorption and a Request for Regulatory Approval is Requested by Banistmo and Banco La Hipotecaria.
The operation was approved by the shareholders’ and boards of directors of both entities and must now receive authorization from the Superintendency of Banks of Panama.
Following the acquisition of Banistmo by Inversiones Cuscatlán Centroamérica, Grupo Financiero BSC, a new financial move sets the tone in the Panamanian banking sector. Banistmo, SA and Banco La Hipotecaria, SA (BLH) agreed this August to begin a merger by absorption process, through which Banistmo would remain as the surviving entity and absorb the operations of La Hipotecaria. The decision was approved by the shareholders’ meetings and boards of directors of both entities in meetings held on August 10, 2026, as Banistmo informed investors through a material event disclosure to the market.
The process still requires authorization from the Superintendency of Banks of Panama (SBP), in accordance with current regulations for this type of transaction. Both entities must submit a formal application for merger approval to the regulator. If the transaction goes through, Banistmo would incorporate into its structure an entity specializing primarily in mortgage financing and housing-related loans. Banistmo’s president, Aimeé Sentmat de Grimaldo pictured below, told news media that the process of absorbing La Hipotecaria could take around 6 months, and the merger seeks to strengthen the management of the financial entity’s mortgage portfolio.
Pictured Above is Aimeé Sentmat de Grimaldo, President of Banistmo.
She clarified that the process still needs to receive authorization from the Superintendency of Banks of Panama and that Banistmo will be the surviving entity of the operation. She noted that the operation will allow Banistmo to become one of the main players in housing finance in the country, at a time when the sector is seeking to regain momentum. “With this merger we will be one of the main players in the housing market in our country,” she emphasized. As of the close of December 2025, Banistmo reported assets of $10,573.2 million and a loan portfolio of approximately $7,152.4 million, according to financial statistics from the Superintendency of Banks of Panama. For its part, Banco La Hipotecaria reported assets close to $1 billion and an approximate loan portfolio of $917.1 million at the close of the same period, according to statistical reports from the banking regulator. Together, both institutions have assets exceeding $11.5 billion and a loan portfolio that surpassed $8 billion at the end of 2025.
Chronology of the Financial Operation.
December 18, 2025, marked Banistmo’s departure from the Cibest Group of Colombia (Bancolombia) , and the beginning of a new stage under the control of the Central American financial conglomerate Inversiones Cuscatlán Centroamérica, Grupo Financiero BSC. The acquisition was completed on June 30 of this year and despite the change of shareholder and the adjustment of its image, Banistmo maintains its name, as Grupo Financiero BSC had reported when the transaction was finalized. The bank continues to operate under its current name, as well as with its teams, products, services and customer service channels, but with a new image and colors launched on August 27, 2026.
Banistmo unveiled its new image following the acquisition of Grupo Financiero BSC.
The branch renovation is thus part of the post-acquisition transition process and allows Banistmo to visually differentiate its identity from the one it maintained during its association with Bancolombia. In announcing the closing of the acquisition, Federico Nasser Facussé, president of Grupo Financiero BSC, stated that one of the objectives of this new phase would be to strengthen the brand, products, services, and capabilities of the financial institution in Panama. The institution has more than 600,000 clients.
