On Solid Footing

On Solid Footing

Bonds Structured Finance Costa Rica Corporate & Sovereign Strategy

In spite of a complicated year for Costa Rica’s banks and concerns about the government deficit, the state-backed financial system is on solid footing with encouraging economic indicators expected this year, says Banco Nacional de Costa Rica’s CEO Fernando Naranjo. With almost $7 billion in assets through June 2011, Banco Nacional de Costa Rica remained the country’s top bank by assets compared to Banco de Costa Rica’s near $5 billion in assets. Aside from good local growth, the roughly 6% appreciation of the colon versus a year earlier also boosted the sector’s performance in dollar terms Bankers will be closely watching the colon this year, as its strength can

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