Banco Atlántico Sale Approved

Panama’s banking regulator has authorized the sale of Banco Atlántico by Spanish group Sabadell to local Grupo Financiero Continental. The acquisition, thought to be for around $96 million, was announced in July. Grupo Financiero Continental has assets of $3 billion and is one of Panama’s most important financial institutions. Banco Atlántico has assets of just over $500 million. Banco Sabadell originally took over Banco Atlántico Panamá when it bought Banco Atlántico de España in 2004.