PANAMA CITY, Dec 15 (PBI) – The Board of Directors of the Superintendency of Banks of Panama (SBP) has officially designated Felipe Echandi Lacayo as President and David Davarro Palacios as Secretary for the upcoming annual term.

The appointments, which were formalized under Resolution SBP-JD-R-2025-00724, will be effective from December 16, 2025, through December 15, 2026.

As the supreme advisory, regulatory, and policy-making body of the SBP, the Board of Directors holds a critical role in the oversight of Panama’s financial landscape. Its primary functions include establishing the definitive interpretation and administrative scope of banking laws and regulatory provisions, ensuring legal certainty for institutions operating within the International Banking Center (CBI).

The leadership transition comes at a time when the SBP is emphasizing institutional stability and the modernization of its supervisory frameworks. By confirming the new leadership, the regulator aims to consolidate its commitment to the structural integrity and rigorous oversight of the Panamanian banking system.

The SBP’s Board of Directors remains the central authority in crafting the general policies that guide the nation’s banking sector, acting as the final arbiter for administrative regulatory matters.