Banking interest rates Banco Nacional de Costa Rica Interest rate Interest Real estate loans State bank bank credit Bank of Costa Rica Oscar Arias SME loans SMEs access to credit economic crisis mortgage financing

State banks in Costa Rica to lower interest rates

The three State Banks, the National Bank, the Bank of Costa Rica and the Credito Agricola Bank, will introduce mechanisms for lowering credit rates.

Monday, February 2, 2009

©image: Carlos Adampol Galindo

Nacion.com reports on its website: "The National Bank is in the process of defining what will be the specific procedures and policies in order to deal with the most urgent needs of clients," said the manager of the bank, William Hayden, in brief written response to this paper."

Source: Nacion.com

Key entities

Banco Nacional de Costa Rica Oscar Arias Banco de Crédito Agrícola de Cartago Bank of Costa Rica

Insight

Interest Real estate loans bank credit access to credit economic crisis interest rates Interest rate State bank Banking

Costa Rica: Banks toughen access to credit for real estate

June 2008

Financial companies are trying to protect their capital against a possible further rise in interest rates.

Access to loans within the real estate sector will be more rigorous. The old refrain, "Better to prevent than lament" is being applied at some local banks, as one of the results of the sub-prime crisis in the United States.

Credit for Homes in Costa Rica Decreases

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.

Increased Availability for Home Loans in Costa Rica

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 ...".

Costa Rica: $100 million alliance of Deutsche Bank-Riverside Developers

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.

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