Loan Delinquency Increases in Costa Rica

By July, 2.215 of all loans outstanding are more than 90 days behind in their payments, according to Sugef data.

Thursday, August 20, 2009

Even though since November 2008 delinquency has shown an upward trend, it is currently below 3%, a level considered "normal" by the Superintendence of Financial Institutions (Sugef).

Journalist Patricia Leitón wrote in her article in Nacion.com: "The increase in delinquency has been mostly caused by nonpayment problems in Banco Nacional, the bank with the largest credit portfolio. At Banco Nacional loans with over 90 days of non payment or at judicial collection represented 3.21% of their total credit portfolio".

More on this topic

Unstoppable Consumer Credit in Costa Rica

September 2017

In 2010 average household debt per household was around $3,000, and last year, just six years later, the figure exceeded $6,500.

Data compiled by Nacion.com shows that the average debt of each Costa Rican household indicated in the analysis only takes into account financing with supervised entities, meaning that it could be be omitting loans taken out for consumption through other sources of unregulated financing, such as pay day lenders and pawn shops, among others.

Unpaid Banking Depts Drop in Guatemala

June 2015

Compared with other economies, the indicator measuring non-payment in the banking system is relatively small, with marked fluctuations in different sectors.

An article on Prensalibre.com reports that according to the Superintendency of Banks (SIB), the indicator for defaults in the Guatemalan banking system "went from 1.55% in May last year to 1.43% in the same month this year."

Loan Payment Defaults Still Rising

August 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.

The increase in defaults is due mainly to problems with real estate projects in Puntarenas and Guanacaste, said Bernardo Alfaro, deputy general manager of the bank’s risk management office.

Costa Rica: Delinquency rate grows for bank credits

November 2008

Delinquency in credit portfolios for banks in Costa Rica, especially the state banks which control 70% of the market, has dramatically increased in the last few months.

Despite the increase, which in the state banking sector was at 39.7% between January and September, delinquency of more than 90 days remained below 3% of the total credit, which is the allowed limited, the General Superintendence of Financial Entities (Sugef) pointed out

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