October 07, 2017
The US Treasury Department today announced the withdrawal of Panamanian Balboa Bank and other companies associated with it from the list of entities sanctioned by its Office of Foreign Assets Control (OFAC).
In a brief statement, OFAC announced the withdrawal of sanctions from Balboa Bank and Trust, Balboa Securities. Pershore Investments, Strategic Oil and Stretegic Investors, all of which have their headquarters in the central building of Balboa Bank in Panama City.
The announcement was made public after the Superintendency of Banks of Panama informed today that it had approved the purchase of Balboa Bank’s total capital by Costa Rica’s BCT Corporation.