Grupo Banistmo was a

Panamanian Panamanians (; feminine ) are people identified with Panama, a country in Central America (which is the central section of the American continent), and with residential, legal, historical, or cultural connections with North America. For most Pan ...

financial services company, and the largest in

Central America Central America is a subregion of North America. Its political boundaries are defined as bordering Mexico to the north, Colombia to the southeast, the Caribbean to the east, and the Pacific Ocean to the southwest. Central America is usually ...

. It was founded in 1984. In 1999 it began an expansion strategy that has resulted in the acquisition of banks in several Central American countries, as well as

Colombia Colombia, officially the Republic of Colombia, is a country primarily located in South America with Insular region of Colombia, insular regions in North America. The Colombian mainland is bordered by the Caribbean Sea to the north, Venezuel ...

and the

Bahamas The Bahamas, officially the Commonwealth of The Bahamas, is an archipelagic and island country within the Lucayan Archipelago of the Atlantic Ocean. It contains 97 per cent of the archipelago's land area and 88 per cent of its population. ...

. It was the holding company of Primer Banco del Istmo, S.A. or

Banistmo Banistmo is the largest bank in Panama and Central America. It was founded in 1984 as Primer Banco del Istmo before it became part of the HSBC Group following its former parent company, Grupo Banistmo's acquisition by HSBC in November 2006. It wa ...

, the largest bank in Panama. Its President and

Chief Executive Officer A chief executive officer (CEO), also known as a chief executive or managing director, is the top-ranking corporate officer charged with the management of an organization, usually a company or a nonprofit organization. CEOs find roles in variou ...

was Alberto Vallarino. In November 2006 it was acquired by

HSBC Holdings plc HSBC Holdings plc ( zh, t_hk=滙豐; initialism from its founding member The Hongkong and Shanghai Banking Corporation) is a British universal bank and financial services group headquartered in London, England, with historical and business li ...

, and merged with HSBC Bank (Panama) S.A., the bank's existing subsidiary in 2007. In 2013 Bancolombia Group acquired HSBC Panama and renamed it Banistmo.

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See also