Bank Defaults on the Rise

From June 2017 to May 2018, the average default rate of the Costa Rican financial system's credit portfolio increased from 1.36% to 2.14%.

Thursday, June 21, 2018

According to figures from the General Superintendence of Financial Institutions (Sugef), between April and May of this year, Banco Nacional de Costa Rica (BNCR) saw an increased in its arrears of greater than 90 days and judicial collection from 2.65% to 4.18%, thus surpassing the 3% that is established as the prudent maximum limit.

The increase in the defaults at the BNCR exceeds the average default reported in the last year by the same institution, as between May 2017 and April 2018, the entity recorded an average of 2.34%.

According to data from the Sugef, the National Financial System also showed an increase in the average of the default indicator between April and May of this year, going from 2.06% to 2.14%.

See the Sugef's figures (In Spanish).

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