Deposits in Panama's International Banking Center (CBI) expanded by 7.43% through May, reaching a total of $121.9 billion.
The growth represents an increase of $8.37 billion compared to the same month last year, according to data reported by La Prensa.
The influx of capital into the offshore hub comes despite a tightening environment for depositors, with interest rates paid on both savings accounts and fixed-term deposits falling relative to a year ago.
The divergence between rising deposit volumes and declining yields suggests that institutional and high-net-worth clients are prioritizing liquidity and safety in the jurisdiction over yield generation.
Panama's CBI has long served as a key node for Latin American and global capital flows, often acting as a barometer for regional risk sentiment.
The continued growth in deposits indicates sustained confidence in the stability of Panama's financial system, even as global monetary policy shifts impact local rate offerings.