Question 1

What is ASB Bank?

Accepted Answer

ASB Bank is an international private banking institution headquartered in Panama City, Panama. The bank specializes in private banking, wealth management, and investment advisory services primarily serving Latin American clients.

As a subsidiary of Credicorp Ltd., the largest financial services holding company in Peru, ASB Bank leverages extensive regional expertise and resources. The bank holds an international banking license granted by the Superintendency of Banks of Panama, allowing it to conduct transactions exclusively from its office in Panama that are intended to take effect outside the country.

Question 2

When was ASB Bank founded?

Accepted Answer

ASB Bank Corp. was incorporated on September 15, 2020, under the laws of the Republic of Panama. The bank was granted an international banking license by the Superintendency of Banks of Panama through Resolution SBP-0145-2020 dated November 23, 2020.

ASB Bank officially began operations on August 2, 2021, following a merger by absorption with Atlantic Security Bank, a Cayman Islands-based institution that had operated since 1984. As the surviving entity, ASB Bank Corp. assumed all assets, liabilities, rights, and obligations of Atlantic Security Bank. This merger consolidated the operations under Panamanian jurisdiction while maintaining the bank's focus on serving Latin American wealth management clients.

Question 3

Where is ASB Bank headquartered?

Accepted Answer

ASB Bank is headquartered in Panama City, Panama, at the Tower Financial Center building, located at Calle 50 and Elvira Méndez, occupying floors 12 and 13.

The bank's registered office is at 50th Street & 66, The Towers Business Plaza, 6th Floor, San Francisco, Panama. Its postal address is Apartado 0819-01233, Panama, Republic of Panama.

Question 4

Where does ASB Bank operate?

Accepted Answer

ASB Bank operates exclusively from its headquarters in Panama City. Under its international banking license, the bank conducts transactions from Panama that are intended to take effect outside the country, serving clients throughout Latin America.

The bank's primary client base consists of high-net-worth individuals and institutional investors from Peru, with expanding operations targeting clients in Chile and Colombia. ASB Bank does not maintain retail branches or ATM networks in Panama, focusing instead on private banking relationships with affluent Latin American clients.

Question 5

What services does ASB Bank offer?

Accepted Answer

ASB Bank provides a comprehensive suite of private banking and wealth management services tailored to high-net-worth individuals, family offices, and institutional investors. Core services include investment advisory, portfolio management, and discretionary investment account management.

Under its securities license as ASB-Casa de Valores, the bank offers securities brokerage and intermediation services. The bank specializes in investment banking, financial advisory, trading, and investment services across multiple asset classes.

ASB Bank provides fund management services and customized investment strategies designed to help clients achieve their financial objectives. The bank's investment platform covers public markets, private markets, and investment banking solutions, with particular expertise in Latin American markets while maintaining global connectivity.

Question 6

What makes ASB Bank unique?

Accepted Answer

ASB Bank distinguishes itself through its specialized focus on serving Latin American wealth management clients from its Panama hub. The bank combines the regulatory advantages of Panama's international banking framework with the backing of Credicorp, Peru's largest financial conglomerate.

The bank maintains a highly selective approach with no retail branches or ATM networks, instead focusing exclusively on private banking relationships. With approximately 146 employees, ASB Bank operates as a boutique institution delivering personalized service to affluent clients.

ASB Bank's business model emphasizes highly collateralized asset management and professional treasury management. The bank has earned strong credit ratings, including an AA+.pa rating from Moody's Local Panama with a stable outlook, reflecting its solid risk management practices and strong solvency indicators.

Question 7

What type of financial institution is ASB Bank?

Accepted Answer

ASB Bank is a licensed international bank (Banco de Licencia Internacional) under Panamanian banking law. This classification allows the bank to conduct banking operations from Panama that are directed at clients and transactions outside the country.

The bank operates as a private bank specializing in wealth management and investment services rather than retail banking. It functions within the investment banking and securities sectors, holding both a banking license and a securities house (casa de valores) license in Panama. This dual licensing enables ASB Bank to provide integrated banking and investment services to its high-net-worth clientele throughout Latin America.

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About ASB Bank in Panama