Banking Banks Superintendent of Financial Institutions (Costa Rica) Banco Nacional de Costa Rica bank BAC San José Banco Popular y de Desarrollo Comunal Costa Rica banking system declining profits profit Banco de Crédito Agrícola de Cartago Bank of Costa Rica Constitutional Chamber of the Supreme Court of Costa Rica assets adequacy bank capital

Costa Rica: Bank Capital Adequacy to be Published

Some entities said they would be willing to declare their individual data if the Sugef removes the restriction.

Friday, September 23, 2011

Since the weekly newspaper El Financiero filed a lawsuit pushing for banks to publish their capital adequacy indicators, the issue has been debated by the General Superintendency of Financial Institutions (Sugef) and the banking market.

Following this, a group of banks have said they would not object to disclosing the information, as long as the publications are endorsed by Sugef.

However, it is the very same regulations currently in force that are preventing publication of the data, as expressed by representatives of the Sugef.

Another important issue that should be taken into account if the data is revealed, is how it will be interpreted, bearing in mind that it could be open to misinterpretation if there is not a clear explanation of how the figures are calculated and what they mean to each individual bank.

Source: Nacion.com

Key entities

Constitutional Chamber of the Supreme Court of Costa Rica elfinancierocr.com Banco Popular y de Desarrollo Comunal Costa Rica BAC San José Banco Nacional de Costa Rica Superintendent of Financial Institutions (Costa Rica)

Countries

Costa Rica

Insight

banking assets bank Banks bank capital banking system banking supervision capital assets adequacy Banking

The secret about the soundness of banks

September 2011

The financial soundness indicator of banks may no longer be kept secret if the Constitutional Court decides that it shouldn’t be.

An appeal filed by the weekly paper El Financiero could lead to a decision to make public the indicators of capital adequacy of banks in the country.

Costa Rica Changes Bank’s Capital Adequacy Rules

February 2010

Sugef will classify banking entities in three groups, based on their capital adequacy ratio.

According to the regulation proposed by the Sugef, the supervisor of the financial system, the first level will include entities with a ratio of 14% or more, the second will group entities with ratios between 12% and 14%, while the third will include those with a ratio between 10% and 12%.

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.

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