The Bank Merger Involving BAC and Multibank has Completed the Majority Share Purchase

2026-03-19 - 23:53

BAC announces the successful completion of its acquisition of a majority stake in Multi Financial Group (MFG), which owns 100% of Multibank and its subsidiaries. With the effective transfer of shares, BAC becomes the controlling shareholder of MFG and, consequently, of Multibank. This milestone marks a decisive step toward the subsequent merger of BAC Panamá and Multibank, a process subject to authorization by the Superintendency of Banks of Panama (SBP). Until then, both institutions will continue to operate independently, maintaining their usual products, services, and channels. Any gradual updates will be communicated in advance, with dedicated support, and will not affect the availability of funds. Rodolfo Tabash Espinach, Chairman of the Board of Directors of BAC International Bank, stated: “With the completion of this transaction, we are taking a firm step toward making BAC’s full regional reach, financial strength, and digital capabilities available to Panamanians. We will move forward with complete regulatory transparency, providing updates at every stage and ensuring that each client experiences a real improvement in their daily lives.” With this transaction, BAC strengthens its leadership in Panama and the Central American region to offer greater value, more solutions, and more opportunities to its clients. The combined entity following the merger will have a more robust platform to innovate, expand benefits, and deepen its support for individuals and businesses in the country, bolstered by digital capabilities, financial strength, and recognized service standards. All of this is supported by the results recently disclosed in the BAC and Multibank financial statements for the period up to 2025. “This step reinforces our commitment to service and prepares us to continue offering superior experiences with a personal touch, warmth, and excellence. Our goal is clear: to be our clients’ primary bank, where they can find, all in one place, the solutions, products, service, and value they need. We want to be their first choice, every day,” emphasized Ramón Chiari Brin, CEO of BAC International Bank. Because at BAC, Panamanians are the owners of the progress they build and the decisions that bring them closer to their goals, with a bank that leads to serve them better.