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Merger Of Two Costa Rica State Banks Proposed. Damage or Benefit?

One of the things the new group of legislators that take their curuls (seats) in the Legislative Assembly today, May 1, is to support or reject the bill for the absorption of the Bancredito by the Banco de Costa Rica (BCR). Last week, the bill...

Bancredito Branches Will Cease To Operate On July 14; 500 Employees Being Laid Off

The State bank, Banco Crédito Agrícola de Cartago (Bancrédito) has literally only days of life of operating as a bank and has asked all remaining customers to withdraw their money, by or on Friday, July 14, when all accounts will become inactive, its ATMs...

Former Bancredito General Manager and Board Of Directors Charged With Corruption

The Ministerio Público (Prosecutor's Office), in what appears on the government's part looking for a scapegoat, has accused the former general manager of the Banco Crédito Agrícola de Cartago (Bancrédito), Guillermo Quesada Oviedo, of allegedly using his influence when at the helm of the...

Bancredito To Close As A Retail Bank

As State banks go, Bancredito was not the top choice for Costa Ricans, even less for foreigners in Costa Rica, which for the longest time, the only interaction they had with the bank and unbeknownst to them, was to pay the airport tax as...

Put it Under the Mattress – Or Spend it!

Q BLOGS - It is really hard not to join the global news outlets and write something about the Trump Administration if there is such a thing. But Q Costa Rica focuses on local issues. Damn, I want to get in on the D.C....

State Bank Faced With Declining Revenues and Rise In Bad Debts Calls For Government Aid

(QCOSTARICA) Facing financial problems, the Costa Rica state bank, the Banco Crédito Agrícola de Cartago (Bancrédito) has put forth a plan that includes a call for the transfer of state businesses, the administration fo the PYMES and Conape funds and a cash injection of...

Credit Card Slow Down Though Business Continues To Be Profitable

(QCOSTARICA) The credit card portfolio in the banking sector weakened in the last two years. In April 2013, credit cards grew at a rate of 24%, as compared to only 10.7% in April of this year. The slowdown in economic activity and greater awareness in...

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