Bank of Costa Rica
in Central America
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.
Wednesday, January 26, 2011
Banco Internacional de Costa Rica traded in the secondary market of El Salvador a total of $ 5 million Series F bonds.
"The series will pay a fixed interest rate of 4.50% 5-year term, with interest payments on a quarterly basis and principal due at maturity.
Friday, January 14, 2011
State banks will allocate $ 788 million through programs for all social strata.
Banco de Costa Rica (BCR), Banco Nacional and Bancrédito, have placed more than 20% of their portfolios in this area.
In the case of Banco Nacional, the institution will provide $ 535 million of which $ 347 million will be targeted for families with low and middle income.
Monday, November 1, 2010
The BCR, ICE and Electrical Service Administrative Board of Cartago (JASEC) signed a trust agreement to build hydroelectric project Toro 3.
With capacity of 46 thousand kilowatts, the project involves a $ 160 million investment. It is expected to be operational in 2013.
La Prensa Libre reports, "The Bank of Costa Rica (BCR) as trustee in coordination with the Instituto Costarricense de Electricidad (ICE) and JASEC must provide 100% of the resources of project cost, through financial structuring, which seeks an appropriate balance between placement of securities or loans with national or international financial institutions.
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