españolReturn of Goods Purchased on Credit Increases by 77%Friday, March 27, 2009 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. 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. Bank Credit Decreased 9% in 2018Wednesday, February 20, 2019 Up to December 2018, the gross portfolio of the financial system in Nicaragua totaled $4.464 million, 9% less than in the same month in 2017, partly because of the performance of commercial and personal credit. From the Central Bank of Nicaragua report: Industry and Consumption Boost Bank CreditMonday, September 11, 2017 The 16% year-on-year growth registered in July in Nicaragua's banking credit portfolio is mainly due to an increase in loans for consumption and industrial activity. From a report by the Central Bank of Nicaragua: Fitch Upgrades Ccsta Rica to 'BB+'Friday, March 4, 2011 Fitch upgraded Foreign currency IDR to 'BB+' from 'BB'; Country ceiling to 'BBB-' from 'BB+'; Local currency IDR affirmed at 'BB+'; and Short-term IDR affirmed at 'B'. The Rating Outlook is Stable. From the Fitch Report: Risk Rating Downgrade ApproachingFriday, October 19, 2018 Moody's downgraded the long-term issuer ratings and the Costa Rican government's unsecured bonds. Yesterday the risk rating agency reported that expectations of a continued decline in fiscal indicators and evidence of increased financing needs are some of the reasons behind the decision to revise the country's debt rating. CABEI To Guarantee Corporate Public OfferingsFriday, September 17, 2010 Principal and interests will be guaranteed through a contigency loan granted by the Central American Bank for Economic Integration to the issuing company. “Partial Credit Guarantees” is the name of the project that CABEI is preparing to assist companies in accessing regulated capital markets in the Bank's member states. Nicaragua: Bank Credit Up 18%Monday, June 26, 2017 As of April, the gross loan portfolio of the financial system totaled $4,982 million, recording a year-on-year growth of 18%. Personal credit led the year-on-year growth with 22.3%, followed by credit cards with a rate of 19.8%, however, this sector only represents 7.2% of the total portfolio. Analysis of Financial Sector in Central AmericaMonday, August 11, 2014 For the last four years the loan portfolio of the Salvadoran financial system has been growing at an average rate of 3.5%, below the 11% growth average in the rest of the region. A report produced by the rating agency Moody's notes that growth in El Salvador's financial sector has been stagnant since 2010, as the total loan portfolio has not achieved growth rates above 3.5% per year. Companies in ZLC Question Contingency MeasuresThursday, January 30, 2014 Additional provisions by banks for loans to companies in the CFZ are a "medicine worse than the disease." The Association of Users of the Colon Free Zone (AU) fears that the bank contingency measures, ordered last week by the Superintendency of Banks of Panama (SBP), will limit bank lending to companies in the CFZ. Bank Credit On the Rise At the Beginning of 2018Wednesday, March 28, 2018 During January in Nicaragua, the gross portfolio of the financial system totaled $5.371 billion, 14% more than in the same month in 2017, explained in part by the performance of commercial credit. The Central Bank of Nicaragua reported that " ...The sectors with the highest representation in the portfolio are commercial credit and personal loans, with both sectors accounting for 55.4 percent of the total portfolio. On the other hand, the portfolio at risk and the past due portfolio continue to register levels below the rest of the Central America, Dominican Republic and Panama (CAPARD) region." Nicaragua: Bank Credit Up 14% in 2017Monday, February 26, 2018 Over the past year, the gross portfolio of the financial system totaled $5.323 billion, 14% more than in 2016, explained in part by the performance of commercial credit. Regarding the activities financed, the Central Bank of Nicaragua (BCN) reported that at the end of 2017 " ... commercial credit and personal loans remained the most representative, with both sectors adding up to 55.4 percent of the total portfolio. These sectors showed year-on-year growth of 10.6 and 12.1 percent, respectively. " Tighter Rules for Credit in DollarsTuesday, May 7, 2013 The Sugef in Costa Rica has demanded tighter controls on banks when lending in dollars. As part of the measures proposed by the Superintendent of Financial Institutions (Sugef), financial institutions must conduct a capacity analysis on the borrower, as well as requiring collateral and credit history, a test now only done when the loan is for more than $130,000. Further Reforms for Credit FlexibilityWednesday, April 1, 2009 CONASSIF (National Council for Financial System Supervision) of Costa Rica tempered several risk indicators that would allow banks to offer better repayment terms to their customers. The Chamber of Banking and Financial Institutions of Costa Rica (CBF) had requested a long series of amendments tending toward more flexible criteria for banking supervision in February and the CONASSIF had already made some concessions with regard to risk indicators three weeks ago. Central America: Negative Outlook for the Banking SectorTuesday, March 31, 2020 Fitch Ratings agreed to change the perspective of the region's banks from stable to negative, arguing that the current health crisis will affect financial institutions in all countries. Considering the measures that countries have adopted in the last 15 days in economic matters, following the spread of covid-19, Fitch expects that there will be a decrease in the issuance of loans. Unstoppable Consumer Credit in Costa RicaMonday, September 11, 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. |
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