Pacific Bank announces fixed-term deposits in dollars as a benchmark for safe and profitable investment.

• The risk of exchange rate fluctuations is eliminated as they are contracted in dollars.
• Annual interest rates of up to 6.5% for 18 months.
• Can be contracted remotely.

Pacific Bank, a subsidiary of Grupo Financiero Atlántida, with a solid track record and presence in Central and South America, launches a range of fixed-term deposits in dollars in Colombia, offering some of the most attractive returns in the market with the advantage of protecting savers from the risk of possible exchange rate fluctuations.

“The deposits we offer to Colombian savers are disruptive compared to what the national banking market currently offers. First, because of the ease of contracting them, either in person or remotely. Second, because of their protection against exchange rate risks due to being contracted in dollars. Third, because of the variety of terms available to the saver and, finally, because of their attractive interest rates and the guarantee of Pacific Bank, an entity with more than 40 years of experience,” explained Gijs Veltman, Chief Executive Officer of Pacific Bank.

The returns offered by Pacific Bank range from 6.5% annually for 18-month fixed-term deposits; 6% for 12 months; and 5% for 6 months. The saver can choose the interest payment (no withholding) to be monthly, quarterly, annually, or at the end of the investment period.

These deposits are intended for a minimum investment of $25,000 and are non-cancelable until the maturity date.

Easy Account Opening

Opening a checking account, without fees, is simple and quick, whether in person or remotely. It will be available for fixed-term investments with just a few easy steps:

• Complete the account opening application
• Copies of identification documents (ID card or passport)
• Proof of address
• Legal or contractual documents supporting the source of funds

*Additional requirements may apply depending on the profile.

Security of Exchange Rates

As these are deposits in dollars, the risk of exchange rate fluctuations is eliminated. Panama has a stable economy and a legally regulated banking system, making it an important international financial center with a highly developed banking infrastructure that attracts investors and companies from around the world.

Guarantee of a Solid Financial Group

It is guaranteed by Pacific Bank, a Panamanian bank with over 40 years of experience providing banking services to individuals and businesses, supported by Grupo Financiero Atlántida, a leading entity in Central America, offering a high degree of confidentiality and privacy of your information.

It is subject to banking regulation in Panama, designed to protect customer deposits in various ways. Some of the measures include:

• Reserve Requirements: Banks are required to maintain liquid reserves as part of the capital requirements established by the Superintendency of Banks of Panama. These reserves ensure that banks have enough cash on hand to cover deposit withdrawals and other financial obligations.

 

• Regulatory Supervision: The Superintendency of Banks of Panama supervises and regulates financial institutions to ensure they operate safely and within the limits established by law. This supervision includes assessing the financial health of banks and implementing corrective measures when necessary.

 

• Bankruptcy and Liquidation Laws: In case a bank faces financial difficulties, there are laws and procedures in place to manage its bankruptcy or liquidation in an orderly manner. These procedures are designed to protect the interests of depositors and other creditors of the bank.

 

• Transparency and Disclosure: Banks are required to provide clear and comprehensive information about the terms and conditions of the financial products and services they offer, including deposits. This enables customers to make informed decisions about where to deposit their money.

 

About Pacific Bank

Since 1980 it operates in Panama's International Banking Center, currently under a General License. Since early 2023, Pacific Bank has been a member of Grupo Financiero Atlántida.

Pacific Bank focuses on Corporate Banking and Private Banking, offering professional and personalized service. It is regulated and supervised by the Superintendency of Banks of Panama.

For more information, visit: www.pacificbank.pa

About Grupo Financiero Atlántida

A financial conglomerate with operations in Banking, Insurance, Pension Fund Management, Brokerage, among other financial sectors, and over 111 years of regional strength and support. The Group's international presence extends beyond its home country, Honduras, to countries such as El Salvador, Nicaragua, Panama, Ecuador, and Peru. It continues this line of international expansion, since it has been admitted to participate in a Spanish group.

The Group's purpose, framing its vision of international expansion, is to improve the economies and societies of the countries where it operates.