November 7, 2017 |
Costa Rica’s GDP is expected to grow 3.9% in 2017, down from 4.3% in 2016, according to forecasts from the World Bank. But BAC San José is bucking the trend, increasing asset and investments this year.
BAC San José had $2.9 billion in assets at the end of June this year, compared to $2.5 billion a year earlier. The bank also hiked investments by 19.4% to $1.5 billion, according to its latest financial statements.
The lender holds just a 13% market share in the country, but its sound profitability and capitalization have made it stand out in 2017 and win the award for Bank of the Year in Costa Rica.
Banco Nacional de Costa Rica (BNCR), for example, is heading in the other direction. Costa
Amid a slowing economy and political scandal, BAC’s Costa Rican business uses the strength of its parent company to grow total assets and market share in Central America.