$17.5 million for Costa Rica's Bancredito

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The total transfer will be $117.5 million to the three State banks. The Government had already announced $50 million in capital for the National Bank and the Bank of Costa Rica

Source: Nacion.com

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Credit available at Costa Rican state banks

January 2009

After being capitalized, the three state banks - Bank of Costa Rica, The National Bank and Bancredito - reactivated all their lines of credit.

Nacion.com reports: "The Bank of Costa Rica has issued some $14 million (¢8 billion colones) since December 23.

At Bancredito, Arnoldo Trejos, Commercial sub manager, reported that they are currently formalizing the requests that were accumulated during the last few months of 2008.

Costa Rica speeds up plans to capitalize banks

November 2008

The decision by Government to inject capital into State owned banks, Banco Costa Rica and Banco Nacional should be ready by mid next week.

Its was confirmed by the Minister to the Presidency, Rodolfo Arias, who analyzed the topic in an extended session of the Economic Council that took place yesterday at Casa Presidencial.

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Grupo Mundial will enlarge the capital base of bank "Banco Banvivienda" for the second time in 2009.

In June, the group had injected $10 million in the bank.

Prensa.com reports: "...the purchase of 65% of Aseguradora Mundial on behalf of Spanish corporation Mapfre... implies a $102.7 million cash payment for the group, in additon to $4.5 million in dividends for 2009's operations, as well as 35% of Mapfre Central America".

IDB approves $500 million for Costa Rica

December 2008

The funds will be used to deal with the possible lack of liquidity next year due to the international financial crisis.

"This loan will inject Zuniga, who also added that with the funds from the IDB the authorities are seeking to provide "sustainable growth" for the Costa Rican economy.