Figures from the Central Bank of Costa Rica show the deceleration reported in loans granted during the first nine months of last year, detailing that up to December 2017 the credit portfolio to the private sector registered an 8% year-on-year increase, while the indicator concerned up to September 2018 dropped to 5%.

Regarding the distribution of profits generated by financial institutions during 2018, data from the General Superintendence of Financial Institutions indicate that 73% of the total was concentrated by BAC Credomatic, Banco de Costa Rica (BCR), Banco Nacional de Costa Rica (BNCR) and Banco Popular.

Elfinancierocr.com reviews that "... Although state banking continues to dominate in size, above many small private competitors, 2018 was an atypical year for this group. Earnings were lower than the previous year, something that happened for the second consecutive period. A lot of this has to do with lower credit growth and default behavior."

The article adds that "... The slowdown in loans was largely because of the contraction and lower dynamism registered by the state banks, in credits in dollars and colones, respectively."

Source: elfinancierocr.com

Do you need information about the financial sector?

Request more information:

Your message has been sent. We will contact you shortly.

Name*

Last Name*

Email:*

Telephone (Country):*

Company:*

Title:*

Size of the Company:* Choose one... Less than 100 employees Between 100 and 500 Between 500 and 2500 More than 2500

Industry:* -None- Agro Alimentos y bebidas Construcción e infraestructura Banca y finanzas Farmacéutica y salud Servicios Retail Automotriz Energía y minería Química y plástico Bienes Raíces Educación Bienes de consumo Industria y manufactura Transporte y logística Telecomunicaciones Administración pública

Yes, I want to receive a call from a salesperson*

Comments:*  

this site is protected by reCAPTCHA and Google's privacy policy and terms of service.

Need assistance? Contact us

(506) 4001-6423

More on this topic

Complicated Economic Scenario

September 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.

According to figures from the General Superintendence of Financial Entities, between January 2017 and July 2018, the percentage of loans in defaults for more than 90 days or in judicial collection, went from 1.65% to 2.51%, showing an upward trend in recent months.

Honduran Bank Profits Grow

July 2018

From January to June of this year net profits of banking entities totaled $116 million, registering an increase of 7% with respect to the same period last year.

According to figures from the National Commission of Banks and Insurance (CNBS), the increase in net income registered between the first half of 2017 and the same period this year was 7%, growing from $108 million to $116 million.

Costa Rica: Slowdown in Business Loans

January 2018

Figures up to October 2017 show a 3% YoY growth, well below the 12% increase registered in the same month in 2016.

The slowdown seen in economic activity during the last eleven months is one of the reasons that explain the lower demand for bank loans by companies in the country.

Costa Rica’s Banking Sector Profits Grow 22.5%

January 2012

The banks reported profits of nearly $276 million in 201, which is 22.5% more than 2010.

Banco Popular tops the list with earnings totaling $76 million, followed by BAC San Jose with $54 million.

An article in Elfinancierocr.com states: "... Banco Nacional (BN) remained in fourth place.