Our history
Banco General, S.A. was founded in 1955 as the first Panamanian private bank. We currently offer our clients a wide range of financial products and services with more than 76 branches, more than 619 ATMs nationwide, telephone and chat service, and a first-rate digital platform. We also have a bank in Costa Rica and representative offices in Guatemala, El Salvador, Colombia and Peru. More than 5,000 employees make up the Bank’s workforce, who serve more than 2 million customers through various service channels.
Banco General was the first Panamanian bank to obtain an International Investment Grade from Fitch Ratings and Standard and Poor’s in 1997, a rating that we maintain without interruption to date. We also have Investment Grade from Moody’s since 2017.
Our subsidiaries offer related services that include insurance and reinsurance, brokerage house, and management of pension and severance funds, among others. The company that owns 100% of the shares of Banco General and Subsidiaries, is Grupo Financiero BG, S.A., a public company listed on the Latin American Stock Exchange (Latinex).
For more than 70 years, Banco General has carried out its operations with strict financial discipline, a corporate culture based on values, and a commitment to serving customers and the community with excellence. These are the precepts that define our success.
Corporate Responsibility
Since its foundation in 1955, Banco General has had the vision of creating value for society together with all its stakeholders, doing business in a responsible and transparent manner, and always with the mission of supporting the community.
The slogan “sus buenos vecinos” (your good neighbors) was added to the organization’s communications in the 1970s, when it began opening branches in residential neighborhoods, as a way of expressing the philosophy of solidarity that has always characterized the Bank.
In 1996 we created Fundación Sus Buenos Vecinos (Your Good Neighbors’ Foundation), the executing arm of Banco General’s investments in the community, which today works in partnership with more than 150 NGOs throughout Panama.
In 2001 we were the first Panamanian company to sign the United Nations Global Compact, committing ourselves to its 10 principles, and we created the Vecinos en Acción corporate volunteer program, which today has the participation of 70% of the Bank’s staff.
In 2019 we signed the Principles of Responsible Banking and we continue working to achieve our objectives, detailed in our Responsible Banking section.
Directory / Banco General
Francisco Ernesto Sierra Fábrega
Executive Vice President and CEO
Nationality: Panamanian
Date of birth: September 10, 1964
Commercial Address: Torre Banco General – Piso E2
P.O. Box 0816-00843, Panamá, República de Panamá
Graduated with a Business Administration Degree from Georgetown University, Washington, D.C., United States, and received a Master’s Degree in Business Administration from University of Texas, Austin, Texas, United States. He is currently Executive Vice President and General Manager, Chairman of the Board of Directors of BG Valores, S.A. and ProFuturo – Administradora de Fondos de Pensiones y Cesantías, S.A. and Director of Banco General, S.A., Fondo General de Inversiones, Vale General, S.A., BG Investment Co., Inc., Banco General Costa Rica, S.A., Promarina, S.A., and General de Seguros, S.A. He was advisor to the Investment Grade Commission of the Republic of Panama (July 2009- August 2011) and the Advisory Commission of the Sovereign Fund of the Republic of Panama (2012). He was Director of the Panama Canal Authority (2016-2025). He was Minister Counselor of the President of the Republic of Panama (Ad honorem) and Member of the Council of Foreign Relations, with a hierarchy of Ambassador Extraordinary and Plenipotentiary (Ad honorem) (2015-2019).
Eduardo Antonio Dominguez Osorio
Executive Vicepresident and Deputy CEO
Nationality: Panamanian
Date of birth: June 10, 1973
Commercial Address: Torre Banco General, E2 floor
P.O. Box 0816-00843, Panamá, República de Panamá
Graduated in Industrial and Administrative Engineering from Universidad Santa María la Antigua, in Panama, Republic of Panama, and received a Master´s Degree in of Business Administration (MBA) from the University of Notre Dame, South Bend, Indiana, USA. He was Vice President of Financial Operations, Planning and Finance at Banco General; He was Director and President of the Latin American Securities Central (LATINCLEAR) and Director of Latinex Holdings; and was President of the Swift Users Commission of Panama.
Executive Vice-Presidents
Federico Albert Garaizabal
Executive Vice President of International Banking
Nationality: Spanish
Date of birth: November 19, 1966
Commercial address: Torre Banco General, piso 18 P.O. Box 0816-00843, Panamá, República de Panamá
E-mail: juntadirectiva@bgeneral.com
Graduated in Business Studies from the University College of Financial Studies (CUNEF), in Madrid, Spain. Former Executive Vice President and General Manager of Corporación Banex in Costa Rica, Former Vice President of Finance of Pribanco (Primer Banco de Ahorros), Former Vice President of Banking for Investment in Banistmo, Former Treasurer of the Banking Association of Costa Rica (2002-2005), Former Director of the Stock Exchange of Panama (2001-2004 and 2008-2017), Former Director of Northeast Electric Distribution Company and Former Director of Latinex Holdings, Inc.
Makelín Arias Boyd
Executive Vice President of Human Capital and Corporate Services
Nationality: Panamanian
Date of birth: March 29, 1965
Commercial address: Centro Operativo Banco General, Urbanización Metro Park, Ciudad Radial. P.O. Box 0816-00843, Panamá, República de Panamá
E-mail: juntadirectiva@bgeneral.com
Graduated with an Economics and Finance Degree from Boston College, Massachusetts, United States. Former Manager of Copa Courier, former Purchasing Manager and former Human Resources Director of Copa Airlines. Former Vice President of Projects and Processes and Former Vice President of Human Resources and Administration of Banco Continental de Panamá, S. A.
José Alberto Humbert Arias
Executive Vice President of Business Segments, Non-Traditional Channels and Sales
Nationality: Panamanian
Date of birth: January 18, 1972
Commercial Address: Centro Operativo Federico Humbert Azcarraga, Urbanización Metro Park, Ciudad Radial
P.O. Box 0816-00843, Panamá, República de Panamá
Graduated with a Business Administration Degree and a Master’s in Business Administration and Finance from the University of Notre Dame, South Bend, Indiana, United States. Former Vice President of Business Segments and Digital Sales, former Assistant Vice President of Private Banking and Segments, former Consumer Credit Manager, and former Branch Manager of Banco General. He was Director of the Chamber of Commerce, Industries and Agriculture of Panama and currently serves as Director of Empresa General de Inversiones, S.A.
Jean-Pierre Leignadier Dawson
Executive Vice President of Finance, Strategy, and Information
Nationality: Panamanian
Date of birth: November 23, 1971
Commercial address: Torre Banco General, E2 floor
PO Box: 0816-00843, Panama City, Republic of Panama
Graduated in Finance from Villanova University, Pennsylvania, USA and Master’s in Business Administration (MBA) from the University of Notre Dame, South Bend, Indiana, United States. Former Vice President of Investment Banking at Banco General and Executive President and General Manager of Productos de Prestigio, S.A. He currently serves as Director of Fondo de Ahorro de Panamá, Profuturo AFPC, Fondo General de Inversiones and Productos de Prestigio, S.A. Former President of the Chamber of Commerce, Industries and Agriculture of Panama in the period 2020-2021 and former President of EXPOCOMER 2023.
Felipe Edgardo Motta Vallarino
Executive Vice President of Consumer Banking
Nationality: Panamanian
Date of birth: September 28, 1963
Commercial address: Centro Operativo Banco General, Urbanización Metro Park , Ciudad Radial P.O. Box 0816-00843, Panamá, República de Panamá
Graduated with a Business Administration Degree from Drake University, Iowa, United States, and Senior Management Program at INCAE, Costa Rica. Currently he is Director of Vale General, Financial Warehousing of Latin America (FWLA), First Data Central America & Caribbean, Member of the Latin America and Caribbean Senior Client Council of Visa International. Former Director of the Institute of Scientific Research and High Technology Services – INDICASAT, Former Director of the Chamber of Commerce of Panama, Former Chairman of the Board of Directors of Telered, Former Member of the Active Club 20-30 of Panama, Former President of the Telethon 20-30 (1998).
David Muñoz Rey
Executive Vice President of Technology, Transformation, and Operations
Nationality: Spanish
Date of birth: February 17, 1974
Commercial address: Centro Operativo Federico Humbert Azcarraga, Urbanización Metro Park, Ciudad Radial
PO Box: 0816-00843, Panama, Republic of Panama
Graduated in Computer Engineering from the University of Zaragoza, Spain, and studied Business Informatics at the Technological University of Applied Sciences in Würzburg, Germany. He has an extensive leadership and transformation experience in technology, banking operations, and cybersecurity, gained at DMR Consulting Group (now NTT Data), McKinsey & Company, BBVA in Spain and Peru, and Banco Pichincha in Ecuador. Former member of the board of PagueYa, BANRED, TEUNO, and Diners in Ecuador.
Michelle Nuñez Olivares
Executive Vice President and CEO of BG Valores
Nationality: Panamanian
Date of Birth: October 14, 1973
Commercial Address: Plaza Banco General, Mezzanine floor
P.O. Box 0816-00843, Panamá, República de Panamá
Graduated in Industrial Engineering from Purdue University, West Lafayette Indiana, United States, and a Master’s Degree in Business Administration from the University of Louisville, Kentucky, United States. She is currently the General Manager of BG Valores, President of the Board of Directors of Fondo General de Inversiones, Fondo General de Retorno Total and Director of Yappy, S.A., and Petróleos Delta, S.A. Former director of BG Valores, S.A., Central Latinoamericana de Valores (LATINCLEAR), Latinex Holding, S.A. and Empresa de Transmisión Eléctrica, S.A. (ETESA).
Enrique Julio Sosa Fernández
Executive Vice President of Corporate Banking
Nationality Panamanian
Date of birth: February 15, 1968
Commercial address: Torre Banco General – Piso E2 P.O. Box 0816-00843, Panamá, República de Panamá
E-mail: juntadirectiva@bgeneral.com
Graduated in Business Administration from American University, Washington D. C., United States, and Master’s Degree in Financial Administration from Catholic University of America Washington D. C., United States. Former Vice President of Commercial Credit and Former Vice President of Corporate Banking of Banco General, S.A., Former Deputy Manager of Branch Office and Former Credit Officer of Banco Comercial de Panamá.
Delly de Yinh
Executive Vice President of Consumer Products and Branches
Nationality: Panamanian
Date of birth: November, 20, 1972
Commercial Address: Centro Operativo Federico Humbert Azcarraga, Urbanización Metro Park, Ciudad Radial
P.O. Box 0816-00843, Panamá, República de Panamá
Graduated with a Law and Political Science Degree from the University of Panama, holds a Master’s in Business Administration from INCAE, and a specialization in Innovation from the University of California, Berkeley, United States. Former Consumer Business Leader during the mergers and acquisitions processes of Bancomer, Bank Boston, and Banco Continental of Panamá, and former Vice President of Consumer Products at Banco General, S.A. She currently serves as Director of General de Seguros, S.A., Revisiones de Panamá, S.A., ProFuturo, S.A., and as Chairwoman of the Board of Directors of Telered, S.A.
Vice-Presidents
Dayra de Saval
Operations
Eduardo de Oliveira
Risk Management
Eliseo Sánchez-Lucca
International Banking
Gary Chong Hon
Investment Banking and Trusts
Giselle de Brostella
Consumer Banking
Graciela de Chen
Finance Support
Jacqueline Souter
Marketing and Corporate Image
Jean Paul Clement
Treasury and Investments
María Isabel Poveda
Corporate Audit
Nicolle Richa
Corporate Banking and Interim
Raúl Guizado
Security and Compliance
Ricardo Moreno
Consumer Banking – Alternate channels
Roberto Ureña
Commercial Banking
Rosa María de Cassino
Administration
Assistant Vice-Presidents
Abdiel Salas
Consumer Banking – Portfolio Recovery
Aixa Medina
Human Capital – Consultancy and Internal Relations
Alberto Méndez
Corporate Banking – Corporate Accounts
Alejandro Ortega
Investment Banking – Business
Alma Pinilla
Treasury and Investments – Administration, Risk and Treasury Control
Ana Cristina Rubinoff
Compliance – Normative and Analytical
Ana Graciela Narvaez
Marketing and Advertising – Product, Services and Subsidiaries
Ana María Bonilla
Legal Counsel
Ana Isabel Compañy
Design
Ana Melisa Azcárraga
Corporate Banking – Corporate Accounts
Anabel Lay
Corporate Audit
Analisa Alfaro de Castro
Corporate Banking – Interim Financing
Angel Hoo
Corporate Accounting
Arianna Calvo
Digital Transformation – Digital Channels
Bettina De Castro
Administration
Carmen Arosemena
Product Development – Loans
Claudia Escobar de Porcell
Business Segments
Claudia Martínez
Digital Transformation – Digital Products
David Roquebert
Marketing – Digital Operations and Corporate Events
Desmond Alvarado
Treasury and Investments – Credit and Liquidity
Eddy Fortoul
Cybersecurity and Fraud Prevention
Edita Pérez Broce
Compliance – Monitoring
Eduardo Terán
Analytics Center
Eneida Rampola
Human Capital – Compensation and Support
Federico Antonio Humbert R.
Product Development – Credit Cards
Florentino Wong Chial
Risk/Retail Banking
Francisco Martin
Information Technology – Architecture and Technological Consulting
Greta Arjona
Corporate Banking – Business Banking
Guillermo Inchausti
Information Technology – Technological Infrastructure
Hugo Villalobos
Compliance – Regulatory and Subsidiaries
Jacqueline De Roux
Corporate Banking – Interim Financing
Jacqueline Souter
Marketing and Corporate Communications
Janina Chen
Finance Support
Jorge Sandoval
Security
José C. Victoria
Planning
José Luis Carrillo
Comprehensive Risk Management
José Manuel Grimaldo
Commercial Banking
Juan José Lam
Technology
Karim Young
Corporate Banking – Corporate Accounts and Free Zone
Karin Stahl
Consumer Banking – Sales and Telemarketing
Laura Rodríguez
Operations – Document Management and Services
Leonardo Varela
Information Technology – Digital Transformation
Lourdes Henríquez
Consumer Banking – Consumer Credit and Processing
Lourdes Valdivieso
Operations – Business and Consumer Credit
Malena Sánchez Galán
Operations – Cash Management
María Antonietta Cassino
Human Capital – Training
María Fernanda Langman
Treasury and Investments – Financial Institutions and ALCO
María Gabriela Porcell
Marketing and Advertising – Payment Solutions
María Gabriela Sierra
Operations – International Operations and Relationship Banking
María Nela Casado
Consumer Banking – Customer Service
Maritza Vallarino
International Banking
Marta Olivo
Operations – Portfolio Management
Mary Julia Rodríguez
Operational Risk
Maureen Richa
General Management
Mercedes Boyd
Operations – Credit Cards, Checks and ACH
Michelle Pich
Preferential Banking
Michelle Ramsauer
Architecture and Engineering
Miguel Ángel Silva
Information Technology – Management and Control
Nora Malca
Technology
Ramón Suazo
Information Technology – Digital Transformation
Raúl Orillac
Finance
Raúl Preciado
International, Environmental, Social and Reputation Risk.
Ricardo De La Espriella
Local Corporate Risk Analyst
Ricardo Porcell
Commercial Banking
Roger Córdoba
Digital Transformation – Costa Rica and Interfaces
Rosa de Quijada
Planning – Information Management
Rosa Rodríguez
Planning – Transformation and Robotics
Stavros Costarangos
Business PST
Sue Lin Mann
Digital Transformation – Subsidiaries
Valerie Voloj
Investment Banking and Trusts – Administration
Yairy Chan
Corporate Credit Analyst
Yessamine Afre
Digital Sales
Yoel Chávez
Commercial Banking
Yohara Salinas
Information Technology – Digital Transformation
Directory / BG Valores
Michelle Nuñez
Executive Vice President and General Manager
Vice Presidents
Camilo Soto
Business – International
Carlos Samaniego
Business
María de los Ángeles de De Obaldía
Business
Assistant Vice Presidents
Anabella de Lince
Business – Local
Armando Palacios
Transformation and Data
Carlos Henríquez
Business – Local
Gabriel Fernández
Business – International
Ginna de Bruno
Business – Local
Manuel Alemán
Business – Local
Marjorie de Arguello
Business – Local
Roberto Eduardo Arango
Business – Local
Rocío Narbona
Business Management and Support
Directory / General de Seguros
Vice-President and General Manager
Roberto Alfaro
Directory / ProFuturo
Raúl García de Paredes
Vicepresident and General Manager
Vicepresidents
Jorge Mesa
Business
Directory / Vale General
Comercial Manager
Janette Heras
Directory / Yappy, S.A.
Commercial Director
Yolianna Alfaro
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Directors
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Independent Directors
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Quarterly reports
2025 – 3rd Quarter – Condensed Consolidated Interim Financial Information
2025 – 3rd Quarter – Management Discussion and Analysis Condensed
2025 – 2nd Quarter – Condensed Consolidated Interim Financial Information
2025 – 2nd Quarter – Management Discussion and Analysis Condensed
2025 – 1st Quarter – Condensed Consolidated Interim Financial Information
2025 – 1st Quarter – Management Discussion and Analysis Condensed
2024 – 3rd Quarter – Condensed Consolidated Interim Financial Information
2024 – 3rd Quarter – Management Discussion and Analysis Condensed
2024 – 2nd Quarter – Condensed Consolidated Interim Financial Information
2024 – 2nd Quarter – Management Discussion and Analysis Condensed
2024 – 1st Quarter – Condensed Consolidated Interim Financial Information
2024 – 1st Quarter – Management Discussion and Analysis Condensed
2023 – 3rd Quarter – Condensed Consolidated Interim Financial Information
2023 – 3rd Quarter – Management Discussion and Analysis Condensed
2023 – 2nd Quarter – Condensed Consolidated Interim Financial Information
2023 – 2nd Quarter – Management Discussion and Analysis Condensed
2023 – 1st Quarter – Condensed Consolidated Interim Financial Information
2023 – 1st Quarter – Management Discussion and Analysis Condensed
2022 – 3rd Quarter – Condensed Consolidated Interim Financial Information
2022 – 3rd Quarter – Management Discussion and Analysis Condensed
2022 – 2nd Quarter – Condensed Consolidated Interim Financial Information
2022 – 2nd Quarter – Management Discussion and Analysis Condensed
2022 – 1st Quarter – Condensed Consolidated Interim Financial Information
2022 – 1st Quarter – Management Discussion and Analysis Condensed
2021 – 3rd Quarter – Condensed Consolidated Interim Financial Information
2021 – 3rd Quarter – Management Discussion and Analysis Condensed
2021 – 2nd Quarter – Condensed Consolidated Interim Financial Information
2021 – 2nd Quarter – Management Discussion and Analysis Condensed
2021 – 1st Quarter – Condensed Consolidated Interim Financial Information
2021 – 1st Quarter – Management Discussion and Analysis Condensed
2020 – 3rd Quarter – Condensed Consolidated Interim Financial Information
2020 – 3rd Quarter – Management Discussion and Analysis Condensed
2020 – 2nd Quarter – Condensed Consolidated Interim Financial Information
2020 – 2nd Quarter – Management Discussion and Analysis Condensed
2020 – 1st Quarter – Condensed Consolidated Interim Financial Information
2020 – 1st Quarter – Management Discussion and Analysis Condensed
2019 – 3rd Quarter – Condensed Consolidated Interim Financial Information
2019 – 3rd Quarter – Management Discussion and Analysis Condensed
2019 – 2nd Quarter – Condensed Consolidated Interim Financial Information
2019 – 2nd Quarter – Management Discussion and Analysis Condensed
2019 – 1st Quarter – Condensed Consolidated Interim Financial Information
2019 – 1st Quarter – Management Discussion and Analysis Condensed
Annual reports
FY 2025 Management Discussion and Analysis
FY 2024 Management Discussion and Analysis
FY 2023 Management Discussion and Analysis
FY 2022 Management Discussion and Analysis
FY 2021 Management Discussion and Analysis
- Standard & Poor’s
Investment Grade (BBB/A-2)
Stable Outlook
1997-present
Latest report date: December 4th, 2025 - Fitch Ratings
Investment Grade (BBB-/F3)
Stable Outlook
1997 – present
Latest report date: February 6th, 2026 - Moody’s
Investment Grade (Baa3/P-3)
Negative Outlook
2017-present
Latest report date: June 27th, 2025
As indicated by banking regulations and our Code of Ethics and Conduct, Banco General and its subsidiaries must act in accordance with national and international regulations and laws established in matters of fiscal transparency.
Therefore, we have implemented the appropriate procedures to comply with these national and international guidelines, always providing the best service to our clients.
In Banco General, S.A. and Subsidiaries, we comply with, and act pursuant to the national and international laws and regulations established to prevent money laundering and financing of terrorism. Consequently, we have implemented programs to protect our clients and products and to prevent their being used to facilitate criminal activities.
Compliance with the Code of Ethics and Conduct is fundamental for the performance of our mission within the compliance culture. Integrity, honesty, confidentiality, moral solvency, professionalism and positive attitude are key levers of the policies of our organization, the integrity being the pivot which protects the other.
We seek to preserve our reputation and to strengthen our untarnished image, committed at all times to the community and the integral development of the country.
Knowing our customer is our primary responsibility as bank employees, and in compliance with such commitment, Banco General, S.A. adheres to the highest transparency standard, by publishing standard documentation, for the purpose of aiding our clients and correspondents in the compliance with the international rules of “Know Your Customer”.
Anti Money Laundering – Kyc Questionnaire
Banco General and Subsidiaries Compliance and Sanctions Policy
Updated on Februrary 2026
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