Alcogal advised Grupo Cibest S.A., the Colombian financial holding company parent of Bancolombia and selling shareholder of Banistmo S.A., one of Panama's leading banks with more than 600,000 clients, throughout the process that culminated, on June 30, 2026, with the closing of the sale of 100% of the shares of Banistmo and all of its subsidiaries, including Leasing Banistmo, S.A. and Banistmo
Investment Corporation, S.A., to Banco La Hipotecaria, S.A., an entity of Grupo Financiero BSC (formerly Inversiones Cuscatlán Centroamérica, S.A.), one of the most significant transactions in the Panamanian financial market in recent years.
Under the leadership of our partners Patricia Cordero and Rafael Marquínez, we provided comprehensive legal advice on the structuring, negotiation, and closing of the transaction, from the announcement of the agreement in December 2025 through its completion, as well as on the fulfillment of the conditions precedent and the coordination of the regulatory approvals before the Superintendence of Banks of Panama.