Panama City, also known as Panama, is the capital and largest city of Panama. It has a total population of 1,086,990, with over 2,100,000 in its urban area. The city is located at the Pacific entrance of the Panama Canal, in the province of Panama. The city is the political and administrative center of the country, as well as a hub for banking and commerce. The city of Panama was founded on 15 August 1519, by Spanish conquistador Pedro Arias Dávila.