Pacific Bank

What Pacific Bank does

Pacific Bank, S.A. (formerly Banco del Pacífico) is a privately held Panamanian commercial bank founded in 1980 and operating under a General License in the International Banking Center of Panama, supervised by the Superintendent of Banks of Panama. Since early 2023, it has been a wholly-owned subsidiary of Grupo Financiero Atlántida, a regional financial conglomerate with origins dating to the founding of Banco Atlántida in 1913 in Honduras and operations spanning banking, insurance, pensions, and securities brokerage across six countries serving over 4 million clients. The bank targets two primary segments: retail individuals (Personas) and businesses (Empresas), including both Panamanian nationals and foreign nationals operating internationally.

The product portfolio centers on USD-denominated deposit products (savings accounts, current/checking accounts, and fixed-term deposits with rates up to 5.75% annually across terms from 3 months to 5 years) and credit products (back-to-back loans secured by time deposits, revolving credit lines, commercial loans for medium-term asset acquisition, and factoring for accounts-receivable monetization). Banking services include SWIFT/ACH transfers, manager's checks, and trade-finance support. Distribution combines two physical branches in Panama City (Casa Matriz Torres de las Américas and Centro de Atención Aquilino de la Guardia) with the Pacific Online (OnPacific) digital banking platform offering separate retail (pbper) and corporate (pbcorp) web/mobile portals.

Revenue is generated primarily through net interest spread between lending and deposit rates, with ancillary transaction and service fees on wire transfers, manager's checks, factoring, and trade finance. Pricing is quote-based rather than publicly disclosed, with a $25,000 minimum on certificates of deposit. The bank maintains an active financial-education blog, social media presence across Facebook, Instagram, YouTube, and LinkedIn, and a PAA credit rating with stable outlook from Pacific Credit Rating Local for the period ended December 31, 2024.

Name

Pacific Bank

Legal name

Pacific Bank, S.A.

Website

https://pacificbank.pa

Company type

Private

Founded year

1980

Operating status

Operating

Headcount range

51–100 employees

Short description

Pacific Bank is a privately held Panamanian commercial bank and wholly-owned subsidiary of Grupo Financiero Atlántida, offering USD-denominated deposit, lending, factoring, and digital banking services to retail individuals and businesses in the International Banking Center of Panama.

Ownership category

akta.pro rank

Product category

Commercial Banking

NAICS

Commercial Banking (52211), Depository Credit Intermediation (5221)

SIC

State Commercial Banks (6022), Commercial Banks, Nec (6029)

akta.pro primary industry

General SME & Middle-Market Commercial Banking (FSABABAA)

akta.pro secondary industries

SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC), SME Business Lending (Term Loans, Lines of Credit, Overdrafts) (FSABABAB), Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA), SME Trade Finance & Working Capital (LCs, Guarantees, Receivables) (FSABABAF)

Keywords

• Commercial banking services
• Retail banking solutions
• Corporate lending products
• Time deposit accounts
• Digital banking platform

Headquarters

HQ city

Panama City

HQ country

Panama

HQ region

Latin America

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others

Revenue model

1. Interest Income from Lending: Pacific Bank generates revenue through interest earned on various loan products including commercial loans, personal loans, back-to-back loans (secured by time deposits), and revolving credit lines. The bank serves both retail and corporate customers with tailored financing solutions.
2. Interest Income from Deposits: The bank pays interest on customer deposits including savings accounts and time deposits (certificates of deposit), generating spread income between lending rates and deposit rates.
3. Transaction and Service Fees: Fees generated from banking services such as wire transfers (ACH local, SWIFT international), management checks, and other banking operations. The bank offers services like factoring and trade finance for business customers.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Pacific Bank, S.A. is a commercial bank operating in Panama's International Banking Center that provides USD-denominated deposit products (savings accounts, checking accounts, and fixed-term certificates of deposit), credit products (back-to-back secured loans, revolving credit lines, commercial loans, and factoring), and digital banking services through its Pacific Online platform. It serves both individual retail customers (Personas) and corporate/business customers (Empresas) with separate, tailored product lines for each segment.

Product overview

Pacific Bank is a traditional commercial bank offering a comprehensive suite of banking products and services for individuals and businesses. The product portfolio centers on deposit products (savings accounts, checking accounts, and fixed-term deposits), credit products (secured and unsecured loans, commercial loans, revolving credit lines, and factoring), and digital banking services through the OnPacific online platform. The bank operates under Grupo Financiero Atlántida, providing financial services denominated in US dollars to both Panamanian residents and international clients under Panama's dollarized economy.

Differentiator

Problem solved

Functional benefit

Brands

• Pacific Online: Digital banking platform for online banking services allowing customers to perform fund queries and transactions

Products and services

• Cuenta de Ahorro (Savings Account)

Quantifiable outcome

• PAA credit rating with stable outlook from Pacific Credit Rating Local (2024)

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Scale indicators3 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• Banco Ficohsa (Panama): Panamanian operations of the Ficohsa Group, a major Central American financial conglomerate. Comparable as a regional banking group operating in Panama with similar retail/corporate product sets, though at significantly larger scale.

Direct peers

• Global Bank: Panamanian commercial bank serving retail and corporate clients with deposit products, loans, factoring, and trade finance. Comparable product suite, including factoring and corporate credit lines, and a similar dual-segment Personas/Empresas strategy.
• Multibank: Panamanian commercial bank offering savings, checking, time deposits, personal and commercial loans, and digital banking. Closely comparable in product breadth and target customer segments within the same regulatory perimeter.
• Banco General: Largest private bank in Panama, offering retail deposits, commercial loans, and trade finance across an extensive branch network. Directly comparable as a full-service commercial bank serving Personas and Empresas segments in the same regulatory and market environment.
• Banistmo: Major Panamanian commercial bank (subsidiary of Grupo Bancolombia) providing deposit, lending, and trade finance products to retail and corporate customers. Comparable in serving both Personas and Empresas with a USD-denominated product suite.
• Banco Aliado: Panamanian commercial bank providing retail and corporate banking services including deposits, loans, and trade finance. Similar mid-sized positioning and full-service Personas/Empresas offering in the same market.
• BAC Panama: Panama operations of BAC International Bank, one of the largest financial groups in Central America. Offers retail deposits, commercial lending, and digital banking—directly comparable to Pacific Bank's dual retail/corporate focus in Panama.
• Towerbank International: Panamanian private bank focused on personal and corporate banking, including wealth management and trade services. Comparable in targeting HNW and corporate treasury customers in the International Banking Center of Panama.
• Capital Bank Panama: Panamanian commercial bank co-founded by Louis Ducruet (currently on Pacific Bank's board), offering deposit and lending products to retail and corporate clients. Directly comparable business model and customer segments.

Others

• Banco Latinoamericano de Comercio Exterior (BLADEX): Panama-based trade-focused bank with deep connections to several Pacific Bank board members (former CFO, former Primer VP). While not a direct retail competitor, BLADEX is a relevant peer in the Panamanian banking ecosystem and a potential correspondent or syndication partner for Pacific Bank's trade finance activities.

Market position

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@PacificBankPA
• Facebookfacebook.com/pacificbankpanama
• LinkedInlinkedin.com/company/pacificbank
• Instagraminstagram.com/pacificbankpa

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Pacific Bank