BNP Paribas in Panama

In line with the Group decision announced in September 2009 to exit from Panama, agreements have been concluded with Scotiabank for the transfer of the local businesses of BNP Paribas.

- Corporate & Investment Banking
The transfer of local commercial financing activities to Scotia Bank was effective on April 19, 2010.
Major corporate banking activities have been transferred to other BNP Paribas countries (New York, USA; and Paris, France).
The coverage of Corporate Banking activity over Panama and Central Amercia is maintained from BNP Paribas Colombia.
Very limited remaining activities will be closed promptly as the Branch is starting its formal liquidation process.

- Wealth Management
The transfer of the local private banking and fiduciary activities to Scotiabank has been announced on March 31, 2010.
The transition process to Scotiabank is expected to be completed in the third quarter of 2010.

>> Read the press release dated 2 April 2010:

BNP Paribas and Scotiabank reach agreement on the transfer of wealth management businesses in Panama, Grand Cayman and The Bahamas