Fonatel Resources to be Managed by Banco Nacional

Four state banks submitted bids for setting up a trust to administer and manage projects and programs to be run with the Fonatel resources. After careful analysis the National Bank of Costa Rica was selected.

According to an article by Sylvia Nunez in La Prensa Libre; "this fund will include $175 million, product of a tender for mobile telephone frequency allocations and payment of parafiscal charges."

Source: prensalibre.co.cr

More on this topic

Costa Rica: Trusts to Manage Properties

September 2011

Greater knowledge of these financial tools is driving their use in the country.

Equity and Guarantee Trust funds are the most popular of these types of instruments in Costa Rica, where more and more companies and individuals are choosing to manage their properties using this alternative.

National Bank of Costa Rica to offer leasing

December 2008

It will be the first state bank to offer this service, which consists of renting an asset (machinery, computer equipment or vehicle) to a company or person for a set time at a set price.

This will be possible because of the Banking System Law for Development that was approved in November, allowing public banks to carry out financial and operational leasing.

BNCR Acquires 13,000 Payment Terminals

August 2010

Costa Rica's Banco Nacional has ordered more than 13,000 point of sale (POS) fixed and mobile terminals from Hypercom Corporation.

According to Hypercom, the multimillion dollar transaction will be rolled out over four years with countertop and mobile plastic card payment terminals supplied by one of the company's authorized distributors, Evertec Latin America.

Panama: Trusts Increase 18%

October 2009

Despite the financial crisis, trust activity grew 18% in the first semester of 2009 when compared with the same period of 2008.

Usage of trusts has been growing at a sustained pace, as volume for 2008 was 13% more than 2007.

An article by Edith Castillo in Prensa.com reports that "Out of the total, $3.19 billion belong to funds in trusts administered by 25 local private banks.