National Bank of Panama mulls over opening New York branch

Panama City

THE National Bank of Panama (Banconal) said on Monday that it will consider a proposal to open a correspondent bank in New York, a move that could help the country's financial sector, which has come under close scrutiny due to the Panama Papers scandal.

Rolando de Leon de Alba, general manager of Banconal, told Reuters that he had received the request from Panamanian banker Moises Cohen. "The matter will be considered," he said, without giving details of when a decision could be made.