Banco Credit Andorra (Panama) S.A. (Panama)

Banco Credit Andorra (Panama) S.A. is a financial institution located in Panama City. It was founded in 2008 and began its operations on November 17 of the same year. The main objective of the bank is to provide wealth management services, offering a wide range of financial services and global advisory to its clients. Banco Credit Andorra (Panama) operates in accordance with the laws of the Republic of Panama, as stated in Public Deed No. 16146 dated July 21, 2008. It holds an International Banking License granted by the Superintendence of Banks of Panama, through Resolution S.B.P. No.207-2008 dated August 28, 2008. This license allows the bank to conduct transactions from its office in Panama that are perfected, consumed, or have effects abroad, as well as other activities authorized by the Superintendence of Banks. In 2009, the Credit Andorra Group obtained a Securities House License from the National Securities Commission of the Republic of Panama through Resolution CMV 236-09 dated July 22, 2009. This license allowed the subsidiary, Credit Andorra Panama Securities S.A., to provide brokerage and financial advisory services. To maximize efficiency and synergies between the two companies, a merger by absorption was carried out on June 30, 2012, between Banco Credit Andorra (Panama) S.A. and Credit Andorra Panama Securities S.A. The bank remained as the sole resulting entity, retaining the Securities House License. Banco Credit Andorra (Panama) S.A. is a wholly-owned subsidiary of Credit Andorra Panama Holding S.A., a company incorporated in Panama. Its sole purpose is to act as the parent company of the Credit Andorra Panama sub-group and facilitate the expansion of the Credit Andorra financial group in Latin America. Credit Andorra S.A., established in 1949 in the Principality of Andorra, is the sole owner of Credit Andorra Panama Holding S.A.