BBVA Colombia launches accounts in Panama starting at $1,000, with the best rate on the market
BBVA announced it is opening an office in Panama to offer additional savings and investment options to Colombians living abroad. The bank will offer US-dollar savings accounts starting at $1,000, along with fixed-term deposits that provide some of the most competitive returns in the market. For high-net-worth clients, its Wealth division will provide wealth management services and comprehensive advisory support, complemented by access to the global network of solutions BBVA already offers in the United States, Spain, and Switzerland.
The bank will offer people seeking US-dollar savings options accounts starting at $1,000 with an effective annual rate of 3.5%—on average, eight times higher than the market rate—and fixed-term deposits at 4.5%, regardless of the term. Both products currently offer the most competitive returns in the market.
For high-net-worth clients, BBVA’s Wealth division will provide end-to-end wealth-management support and specialized advisory services, along with access to the offshore offering that the BBVA Group already makes available in the United States, Spain, and Switzerland.
“This new office in Panama strengthens our commitment to offering Colombians safe, profitable savings and investment alternatives—accessible entry amounts, the best returns on the market, comprehensive wealth-management guidance, and the global backing of BBVA,” said Mario Pardo Bayona, CEO of BBVA in Colombia.
The bank will also offer exporting and importing businesses compensation accounts to streamline their international operations. The new office in Panama will serve Colombians living abroad.