PANAMA CITY, Panama – Caja de Ahorros, Panama’s national savings bank, is marking World Savings Day by reporting significant growth in total deposits and new account openings, underscoring a strengthened public trust in the institution. The financial entity announced that as of September 2025, its total deposits reached B/.5,588 million, representing a 2.5% increase compared to 2024 figures, alongside the opening of more than 40,000 new savings accounts this year.
The bank released these figures on October 31st, a date recognized globally as World Savings Day. This day was established nearly a century ago in Milan following the Great Depression to promote the importance of saving money. The data from Caja de Ahorros highlights not only its institutional performance but also the evolving savings habits of Panameños, with 13,000 of the new accounts being opened through digital channels, signaling progress in the country’s modernization and financial inclusion efforts.
Modernization and Public Engagement Initiatives
To celebrate the occasion, Caja de Ahorros has launched a public promotion titled “Tu alcancía tiene historia” (“Your Piggy Bank Has a History”). This initiative encourages clients to bring their old metal piggy banks to branch locations to receive rewards and have their saved amount doubled. In a move to foster financial literacy from a young age, the bank is also inviting children between the ages of 5 and 10 to participate in selecting the new design for its iconic piggy banks.
These efforts are part of a broader strategy to engage the community and reinforce the cultural importance of saving. The focus on both traditional symbols like piggy banks and modern digital account openings demonstrates the institution’s dual approach to honoring its legacy while advancing its technological capabilities.
Commitment to Financial Education and National Development
Beyond deposit growth, Caja de Ahorros is heavily invested in its financial education mandate. Through its National Savings Program, the institution has already trained more than 7,000 people in 2025, with a goal of exceeding 10,000 beneficiaries by 2026. The program targets students, entrepreneurs, and families across the country.
The General Manager of Caja de Ahorros, Andrés Farrugia G., emphasized the foundational role of this work. He stated that financial education is crucial for long-term prosperity and national stability.
“Educar financieramente es sembrar futuro,” Farrugia said. (“To educate financially is to sow the seeds of the future.”) [Translated from Spanish] He further highlighted that “saving is a key tool for improving quality of life and for strengthening the country’s development.” [Translated from Spanish]
This philosophy is central to the bank’s mission, linking individual financial well-being directly to the broader economic progress of Panama. With 91 years of history, Caja de Ahorros continues to position itself as a pivotal institution in promoting savings, financial literacy, and social inclusion.
Solid Growth Reflects Public Confidence
The reported growth in deposits to B/.5,588 million is a key indicator of public confidence in the state-owned bank. In a dynamic financial landscape, this increase suggests that the institution remains a trusted repository for Panamanian savers. The opening of over 40,000 new accounts, a substantial portion of which were digital, also points to the successful adoption of new technologies and the expanding reach of the bank’s services nationwide.
As World Savings Day is commemorated globally, the announcements from Caja de Ahorros provide a concrete snapshot of the savings culture in Panama. The institution’s ongoing programs and recent performance metrics illustrate a active commitment to its founding principles while adapting to meet the needs of a modern economy. For more information on its initiatives, you can visit the official Caja de Ahorros website.