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Banco General
In its first year of operation, the bank focused only on corporate customers, but will now expand into the consumer banking market gradually. They will start by offering mortgage loans.
Alberto Sauter, the bank’s manager in Costa Rica, explained that they started with $80 million in capital, and plan to reach $500 million in the medium term.
“Banco General has recently opened a store in Heredia and plans another for 2010, either in La Sabana or Rohrmoser”, reported Elfinancierocr.com. “It envisions at least 12 branches within five years”.
Source: elfinancierocr.com
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March 2011
Despite contraction in the construction sector, banks and other lenders are increasing their offers.
The bank´s credit portfolio is the largest offered over the last three years as reported by the Costa Rican Banking Association.
"In Expoconstrucción, which begins next Sunday at Pedregal (San Antonio de Belén), banks will try to hook new customers with fixed rate programs, remission of fees and payment terms of up to 30 years" informed Nacion.com, “Nine financial institutions will be present at the fair ...".
January 2012
The four state-owned banks intend to lend $682 million in housing in 2012, 20% less than last year.
Publicly owned banks (National, Costa Rica, Bancrédito and Popular) have set a goal of granting ¢351,000 million ($682 million) in housing loans during the course of 2012, reported Nacion.com.
June 2008
The Costa Rican firm Riverside Developers has signed an agreement with MortgageIT Inc., a subsidiary of Deutsche Bank, one of the world's largest financial institutions.
The real estate developer has obtained a credit line of 100 million dollars.
The negotiation represents eight months of work, during which MortgageIT carried out due diligence.
December 2011
G & T Continental has acquired, at $64 million, Citibank de Guatemala’s housing portfolio.
Flavio Montenegro, general manager of G & T Continental, said the payment was in cash and Citibank de Guatemala has already handed over the records of the respective accounts.
For its part, Crista Kepfer, public relations officer of Citibank, told Prensalibre.com,"The decision was made to sell the FHA mortgage portfolio as part of Citi's strategy of focusing on a global scale in other banking segments and using those resources to invest in other lines of business. "
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