Financial inclusion in Panama has reached historic levels, consolidating the country as a regional leader in banking and digital adoption.
According to figures from the Banking Association of Panama (ABP), there are currently 5.1 million bank deposit accounts in a country with 4.2 million inhabitants, which reflects a level of penetration that far exceeds the census population.
At the same time, banks register 3.9 million clients, which shows that access to financial services is practically universal.
The most revealing data is that 93% of Panamanians have access to digital banking, an indicator that places the country in a privileged position compared to its neighbors.
The growth of financial inclusion has been driven by the technological transformation of the banking system.
Electronic channels have experienced a sustained increase in the volume of transactions, highlighting mobile banking, which went from 557 million operations in 2022 to 1,577 million in 2025.
Carlos Berguido, executive president of the ABP, highlighted that the financial inclusion rates increased, since in Panama there are now 5.1 million deposit bank accounts in a country that has 4.2 million inhabitants.
“The level of digital adoption is 93%, and the banks have 3.9 million clients. That does not exist in any neighboring country. We have the highest financial inclusion figures, by far,” commented Berguido.
The banker stressed that Panama should stop comparing itself with countries in the region and start establishing references with Europe, given that “the banking system has made a difference in helping this country be competitive, open and efficient.”
He recognized that Chile is an exception in Latin America due to its private pension system, which turned millions of citizens into clients of financial institutions, but highlighted that Panama, without having a similar scheme, has achieved the highest inclusion rates.
“This means access to bank accounts and credit, the latter is virtually universal, if it is not in banks it is in financial institutions or cooperatives. We have very good inclusion rates,” stated the executive president of the ABP.
