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3.
A close friend who is either a rat bastard or leech.

Other uses:
Pankro, Polanko, Chato, fucking rat
1 hey you want to chill with Luis
2 no hes a fucking panco
3 whats a panco?

2 a fucking rat bastard.
by DR CHEESE****** April 12, 2011
 
1.
a homie or a close friend
On the phone:

Jairo: Bueno
Kaylee:What's up panco?
Jairo: So you gunna let me borrow five dollars? si o no pariente?
Kaylee: simon limon!
by kaylisha June 02, 2009
 
2.
a homie or close friend
On the phone:

Jairo: Bueno
Kaylee:Wat up panco?
Jairo: So yuh gunna let me borrow five dollars? si o no pariente?
Kaylee: simon limon!
by kaylisha June 02, 2009