Rate Hike Worries Banks in Costa RicaA passive base rate in excess of 12% would be problematic, affecting the behavior of borrowers and is likely to cause an increase in defaults.Monday, May 14, 2012
The Passive Base Rate (PBR) reached 10% on May 9, a level not seen since October 2009. The banks set their interest rate according to the PBR and charge an additional margin. It is estimated that there are 400,000 public bank transactions related to this indicator, reported Elfinancierocr.com. Source: elfinancierocr.com ¿Busca soluciones de inteligencia comercial para su empresa?Complicated Economic ScenarioSeptember 2018 The deterioration of the economy and rising unemployment are the main reasons behind the difficulties faced by companies and individuals in Costa Rica in paying back their bank loans. Loan Payment Defaults Still RisingAugust 2011 There have now been seven consecutive months during which the default rate of borrowers from the Banco Nacional de Costa Rica has increased, having exceeded the normal limit of 3% over the past three months. Panama: Defaults Increase in the Banking Credit SystemFebruary 2009 In the month of June of 2008, past due accounts and defaults represented 2.4% of the credit accounts receivable; in September, 2.7%; and in December, 3.4%. More Credit Card Requirements in GuatemalaFebruary 2009 Banks and transmitters of credit cards add more application requirements and reduce credit limits.
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