Return of Goods Purchased on Credit Increases by 77%

The Superintendent of Financial Institutions of Costa Rica reported that the repossession of property for unpaid debts rose 77% from February 2008 to February 2009.

Friday, March 27, 2009

The increase in auction advertising for goods recovered by the banks is well-known, especially for real estate and cars whose owners cannot continue to make the monthly payments due to loss of income, unemployment and primarily because of the increase in interest rates.

Edgar Delgado Montoya said in his article in that "it is clear that banks are forced to take possession of the goods even when they don’t want to do so. It is therefore important for customers to look for solutions before it is too late.”

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Costa Rica: Maximum Arrears Levels at State Banks

February 2013

Data for January 2013 shows that the arrears in loans in the three state banks in Costa Rica are close to the maximum allowable limit.

For the Banco de Costa Rica, the arrears indicator has reached 3.14%, exceeding the ceiling imposed by the Superintendent of Financial Institutions (Sugef), of 3%.

Credit Card Market Stagnant in El Salvador

April 2010

Consumer budgets are still healing from the economic crisis, delaying a recovery in credit card lending.

Almost 60.000 credit cards were cancelled during 2008 and 2009, half of them for delinquency by their owners. Many others maxed out their credit and cannot use their cards anymore.

Credit Starts to Recover

August 2009

Costa Rican banks are reporting an increase in loans, specially for industry, services, commerce and home building.

Event though stats for the first half of 2009 do not report an increase in the credit balance of the banking system, "bankers forecast higher loan growth than predicted by the Central Bank in its macroeconomic program revision. The Bank estimated credit growth at 4.3% in Colones and 3% in U.S. dollars."

Central American Banks: Annual Results and Perspectives

April 2009

Fitch Ratings reported that the risks to regional banks during the current crisis are growing and represent a major challenge for 2009.

The combination of reduced credit expansion, fund restrictions and increasing loan provisions have limited the profits of most banks and it is expected for these factors to continue to pressure the results in the coming months.

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