Bank of Costa Rica
in Central America
Monday, May 7, 2012
While in 2011 Costa Rica’s economy grew by 4.1%, the assets of the banking system increased by 8%.
The financial system of Costa Rica made a giant leap in the second half of 2011, with assets of the 17 constituent entities increasing their growth rate from 2% in June to 8% at the end of the year.
Friday, March 30, 2012
Starting on Monday all companies enrolled in the National Registry of Costa Rica, must pay an annual tribute established by Law 9024.
The basis for calculating the new tax is 50% of a basic monthly salary, which is 180,300 colones ($357) in 2012, and 90,150 colones ($178.5) or half, for inactive companies for each year from January to December.
Because 2012 will not be a full tax year, the amount payable is 135,225 colones ($268) for active companies and 61,612 ($122) colones for inactive ones, according to Insidecostarica.com.
Tuesday, February 14, 2012
The Bank of Costa Rica is the new administrator of the National Trust for Development, having secured the tender created for that purpose.
The Governing Board of the Banking System for Development (SBD) awarded by unanimous vote the administration of National Development Trust (FINADE), to the Banco de Costa Rica (BCR), following a tender.
Tuesday, January 31, 2012
The increased demand for bank credit from consumers and businesses plus the financing needs of the government, is putting pressure on the capital market and interest rates.
The competition for liquidity can be seen in the activity of the National Stock Exchange, where the amounts being released on the exchange are increasing because of the concurrence of the state banks - Banco de Costa Rica, Nacional and Popular, and of private banks like Scotiabank, and by other entities such as Grupo Mutual y la Compañía de Fuerza y Luz.
Wednesday, January 25, 2012
The approval of a trust agreement with Banco de Costa Rica will allow the Legislature to advance construction of its new facilities.
The referendum on the trust by the Controller General of the Republic has enabled construction of a new home for the Legislative Assembly and the restoration of existing buildings.
Friday, January 13, 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.
Monday, December 19, 2011
The Banco de Costa Rica (BCR) has requested a $30 million loan to strengthen its capital and to provide financing to SMEs.
A press release from the Inter American Investment Corporation (CII in Spanish) reads:
Wednesday, October 5, 2011
A project to unify their technology platforms has proved unsuccessful, a fact that limits the possibilities of integrating their services.
Apart from the failure of the macro project, some synergies have been achieved. Between the National Bank and Bank of Costa Rica (BCR) there is an agreement that clients can change checks and make deposits and both share the use of ATMs.
Monday, September 12, 2011
Costa Rica's government has launched the use of digital signatures, but warns that the growth of its use will depend on its incorporation by the private sector.
The digital signature binds the identity of a person or team with a message or electronic document, to ensure authorship and integrity. The recognition of digital signatures provides security for electronic transactions, promoting e-commerce.
Thursday, September 1, 2011
The price of the dollar against the Colon has again started to fluctuate, after having spent several weeks at a relatively stagnant level.
In the last two weeks there has been a slight rise, of about six colones, at the banks exchange desks.
However, this rise has not appeared the way it normally does, ie first in the Monex wholesale market, where trading banks and financial institutions do business, and then in the exchange rate offered to the end consumer at exchange desks.
Wednesday, August 31, 2011
The Board of the Legislative Assembly has signed a new trust for $30 million with the BCR for the construction of a parliament building.
The Board members Patricia Perez and Gloria Bejarano, told Prensa Libre that the new headquarters will be built on lots, to be expropriated, on the north side of the Plaza de la Democracia in the capital.
Friday, June 17, 2011
Two state banks are trying to take advantage of new trade relations between Costa Rica and China.
Banco de Costa Rica and Banco Nacional, two of the largest banking institutions in the country are reviewing their strategies to incorporate specific services to companies wishing to export to China.
The free trade agreement recently signed between China and Costa Rica will allow a number of Costa Rican products to enter the Chinese market duty free, which is expected to generate increased exports.
Thursday, May 12, 2011
Three new convention centers will open within the next three years.
With an investment of $30 million, a project promoted by the Instituto Costarricense de Turismo, to be built in Barreal de Heredia. is expected to completed by the first quarter of 2014.
Tuesday, February 15, 2011
Banco de Costa Rica analyzes possible options for moving the seat of the Legislative National Assembly.
Originally the institution would be placed in a building located in the Zapote area, near the presidential home, but the operation was unsuccessful.
Legislative representatives said they considered a 23.5 million property, also near the presidential home, but the owner desisted in selling the property and the Bank is evaluating 8 other options.
Friday, January 28, 2011
The new regulations for the operation of public work trusts contains provisions which make the process too cumbersome.
Meanwhile, only in Banco Nacional (BN) and Costa Rica (BCR), projects which are held up due to approval for funding through trusts reaches $ 2,760 million. The projects being held up are construction of public works.
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