About Us

Boosting Panama's Economic Future

With an initial capital of 500 thousand pesos, opened its doors on October 12, 1904 with a reduced staff. Its first directors, advisors and clients were some of the most respected and prestigious heroes of independence.
Beyond its initial mortgage operations, the bank made discounts and received deposits from farmers, ranchers and industrialists, always demanding solid guarantees from its customers. The bank offered loans that constituted the seed capital for the incipient national development.

In 1911, it changed its name to Banco Nacional de Panama (Banconal) and consolidated itself as the engine of domestic productive growth, especially in the agricultural sector. By 1919, it established its first branches in the provinces. Throughout its history, the country’s main headquarters was in four different places: on Fifth Street, Cathedral (1904-1938); on Avenida Septima Central (1938-1956); in front of Plaza Porras, in the building occupied by the Electoral Tribunal (1956-1978); and finally, in Vía España since 1978.

Banconal is the state financial institution for excellence. In addition to the objectives established in the law, its purpose is to carry out, within the official sector, banking activity, supporting projects of great economic and social impact for the benefit of the Panamanian population.

Although it is not a central bank, since it lacks powers such as the issuance of currency and the regulation of the banking system, it exercises some typical functions of these, thanks to legal provisions and international agreements.

Under the law, Banconal carries out a wide range of private banking activities. Historically, it has played a fundamental role in the development and promotion of productive activities, with special emphasis on the agricultural sector in the interior regions of the country.

Since 2022, Banco Nacional de Panama has transformed a traditional culture of social responsibility into a shared vision and strategy of sustainability, responsibly managing all areas of the business under ESG (Environmental, Social and Governance) criteria. This approach has made it possible to achieve important achievements for the benefit of the planet, people and prosperity, with the aim of working to leave a legacy that builds an economically competitive, socially equitable and environmentally sustainable Panama.

The bank of choice for Panamanians, committed to the country’s development and customer service, distinguished by its efficient and innovative financial solutions through digital transformation, enhancing the well-being of its employees and stakeholders with responsible management and high sustainability standards.
  • Offer our customers high-quality financial products and services that exceed their expectations.
  • Attract and retain top talent through the best compensation policies, benefits, and professional development, working as a team to achieve our goals.
  • Implement advanced technology to optimize process automation, ensuring agility, efficiency, and profitability.
  • Act with transparency, guided by ethical principles and values.
The following are fundamental ethical values for the National Bank of Panama:
  • Passion and Commitment
  • Honesty
  • Respect
  • Transparency
  • Quality
  • Communication and Teamwork
These values must be promoted and safeguarded by all employees in the Bank. Each of the members of the Institution must act in accordance with these values in a uniform, coherent and permanent manner over time. At all times, the attributions must be exercised responsibly and act correctly.

Corporate Governance

Corporate Governance Code

The Bank’s Board of Directors approved a document called “Corporate Governance Code” that contains the general guidelines regarding the provisions, practices and structure of the Corporate Governance system in Banco Nacional de Panama. The guidelines expressed in the Code include a summary of the practices and policies adopted by the Bank in order to enunciate and formalize in a consolidated document available to all its related parties, as well as our management model aimed at complying with the corporate governance standards dictated by the applicable regulators and by international standards.

 

Board of Directors

The Board of Directors is responsible for setting policies for the proper functioning of the Bank, its improvement and modernization; as well as to supervise its administration in accordance with the provisions of its Organic Law.

In addition to what is indicated in this regulatory provision, it will also comply with those responsibilities attributed to the Board of Directors through the different agreements issued by the regulators and supervisory entities.

This corporate governance body is supported by both Senior Management and the different executive and management committees for effective administration and periodic monitoring of the different risks to which the Bank is exposed.

Nicolás Antonio Ardito Barletta Preston
President:

Appointed as Director and Chairman of the Board of Directors in March 2024.

Area of knowledge: Bachelor’s Degree in Industrial Engineering with a minor in Economics, Master’s Degree in Business Administration with a Major Finance, Marketing and Corporate Strategy

Ángel Dapena Lambridge
Vice-president:

Appointed as Director of the Board of Directors in August 2019 and Vice Chairman of the Board of Directors in October 2024.

Area of knowledge: Business Administration, Certified Public Accountant.

Lizbeth Ann Henríquez Leonard
Director:

Appointed as Director of the Board of Directors in February 2019.

Area of knowledge: Business Administration

Jose Luis Garcia de Paredes Chiari
Director:

Appointed as Director of the Board of Directors in October 2024.

Area of knowledge: Possesses knowledge in economics and business administration with an emphasis on finance. Experience in agro-industries, from the production to the marketing of certain foods; banking activities, among others

Vivian Damaris Holness Medina
Director:

Appointed as Director of the Board of Directors in October 2024.

Area of knowledge: He has experience in corporate, administrative and commercial matters with emphasis on areas such as corporate governance, public procurement and administrative legal management, government contracts and concessions.

Efraín Ramón Castillero Castillo
Director:

Appointed as a Director of the Board of Directors in October 2022.

Area of knowledge: business administration and experience in commercial, agricultural, financial, credit activities, among others

Directory Committees

Composition of the directorial committees (Managing Members)

The Directorial Committees are made up of members of the Board of Directors and in some cases, also members of the Senior Management of the National Bank of Panama. These Committees will always be chaired by a member of the Board of Directors in order to guarantee criteria of independence in terms of decision-making and the correct execution of an adequate scheme of checks and balances.

Board Directors

Senior Management

General Manager:

CURRICULUM VITAE

Name: Javier Enrique Carrizo Esquivel
Date of Birth: September 25, 1957
Citizenship: Panamanian
Marital Status: Married

EXPERIENCE

National Bank of Panama

July 2019 – Present
General Manager

Multibank (Panama)

November 2005 – June 2019
First Vice President
Corporate Business Development

Banco de Colombia, S.A. (Panama)

January 1981 – June 1984
Treasurer

Banistmo

April 1998 – September 2003
Vice President of Corporate and Commercial Banking
General Manager of PRIBANCO during its merger with Banistmo

Banco Continental de Panamá, S.A.

July 1984 – April 1998
Vice President of Corporate Banking, Vice President of Institutional Banking & Correspondent Banking
General Manager of Norfolk & Hampton Bank (Grand Cayman), Treasurer

Chase Manhattan Bank (Panama)

July 1979 – January 1981
Credit Analyst

OTHER ACTIVITIES

Alternate Director – Panama Banking Association, currently.
Director – Panama Stock Exchange, until 1995.
Founding Director of PROFUTURO.
President of the Inter-American Foundation for the Development of Capital Markets, 1998-2000.
President of the Panama Association of Securities Dealers, 1994-1995.
Director of Arrendadoras Unidas (Leasing), 2000-2003.
Vice President and Founder of Valleverde Desarrollo Forestal (Forestry) in 1996, currently.
Director of Inmobiliaria Albrook S.A. (Albrook Mall), until July 2004.
Co-Founder of the Panama Jazz Festival, 2003.

EDUCATION

University: Babson College, Wellesley, Massachusetts.
Bachelor of Business Science – Business Administration (1979).
High School: Colegio Javier, Panama R.P.
Bachelor of Science, Arts, and Philosophy (1974).

Senior Management Members

Code of Ethics and Conduct

The Code of Ethics and Conduct of Banco Nacional de Panama aims to frame and share the ethical values of the Institution, define the conduct that must be followed inside and outside the entity, as well as establish guidelines that prevent the existence of conflict of interest in order to preserve the image, reputation, integrity and reliability of the Institution and the National Financial System.

This document is aimed at promoting high standards of ethical and professional conduct in order to ensure compliance with laws and protect the interests of clients, while establishing guidelines for a fair and equitable work environment.

Compliance with the Code is mandatory for directors and officers; document that has been duly approved by the Bank’s Board of Directors; whose content will be reviewed from time to time in accordance with the internal needs of the institution and the legal-regulatory framework in force, being its modifications submitted to the consideration and approval of this collegiate entity.

Code of Ethics and Conduct – Annex for the House of Values

Code of Ethics and Conduct – Annex for the Securities House aims to guide the ethics and conduct of the officers assigned to the Bank’s Securities House, as provided in Agreement 6-2018 of the Superintendence of the Securities Market.

Data related to Corporate Governance Practices

Corporate governance practices strengthen the management and control bodies of organizations, while defining clear rules of action among actors, and increasing the level of transparency and accountability to their stakeholders.

Based on the principle of transparency, good corporate governance requires that stakeholders have regular and timely access to relevant, sufficient, reliable and up-to-date information on the corporate governance practices implemented.

Until 2022, data related to corporate governance practices were contained in the Corporate Governance Practices Indicators Report. Starting in 2023, corporate governance data can be consulted in the Bank’s Sustainability Report, Section G “Governance”.

Strategy Guidelines

To achieve the goal set for 2025, three fundamental strategic guidelines have been defined.

Our Clients

They deserve our respect and gratitude for trusting us to manage their resources, so we are obliged to provide them with the highest quality of care and service

Our People

Our team effort day by day, to fully meet the needs of our customers.

Continuous Improvement

It motivates us to evolve so that every day we generate value, at the forefront of digitalization processes and efficient processes.