Loan Payment Defaults Still Rising

The increase in defaults is due mainly to problems with real estate projects in Puntarenas and Guanacaste, said Bernardo Alfaro, deputy general manager of the bank’s risk management office.

He added that the institution has an aggressive policy regarding the collection and payment arrangements for debtors.

"Asked as to whether an external crisis could make things worse, Alfaro said this is a hypothetical scenario on which the bank does not usually comment. When the crisis worsened earlier, in September 2008, the indicator of defaulters at the Bank Nacional was 1.64% and the entire banking system was at 1.24%", reported Nacion.com.

Source: Nacion.com

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