November 1, 2009
Banco Nacional de Costa Rica (BNCR) remains the largest, with $5.56 billion in assets as of June, ahead of Banco de Costa Ricas (BCR) $3.75 billion. During the downturn, however, return on equity (ROE) at the larger bank sunk to 13.2% from 18.3% the year before, while BCRs managed to rise slightly to 14.06% from 12.28%. BCRs ROA was up to 2.22% in June, from 1.95% the year before. Total assets increased to the June levels from $3.53 billion the year before.As a state-backed bank we have played a very decisive and important role in trying to inject credit and more liquidity through remote activity, says Mario Rivera, general manager at BCR. He says the bank
Costa Rica’s government backed banks have played an important role in supporting the country’s economy, and continue to dominate at a time when private financial institutions and foreign operations may find it difficult to enter or increase share.