Multibank began operations in 1990 under a general banking license issued by the Panamanian banking authority, Superintendencia de Bancos de Panamá. From the beginning, Multibank has focused on providing banking services to small and medium-size companies, but it also provides personal banking services. In 2005, Multibank began a process to become a universal bank, opening branches, expanding its product portfolio, and expanding services to its clients.
Multibank’s management team includes top-rated executives and professionals with several years of experience in the banking sector, who have worked to position the bank in the Panamanian market.
The project consists of providing Multibank with a loan of up to US$6 million for financing Panamanian SMEs and/or residential housing for middle- and low-income individuals. In the case of residential housing, subloan beneficiaries shall be individuals who are residents and citizens of Panama and who will live in the housing unit themselves.