Q COSTARICA — The National Financial System (Sistema Financiero Nacional) has maintained adequate levels of solvency and liquidity in recent years, but faces areas of risk in consumer lending, according to the Central Bank’s 2025 Annual Financial Stability Report.
This positive performance has been maintained despite complex events such as the COVID-19 pandemic, the increase in interest rates in 2022, the resolution processes of financial institutions in 2024, and an international environment marked by geopolitical and trade tensions.
The Central Bank highlighted that the financial system is healthy following the crises of Coopeservidores and Desyfin, which culminated in the closure of these two financial institutions due to insolvency.
Stress tests applied under a macroprudential approach show that the system has sufficient tools to withstand adverse scenarios for up to 12 months, reinforcing the perception of overall stability.
The report aims to provide stakeholders and the public with a comprehensive overview of the sector’s recent performance, incorporating both internal and external factors.
The report places special emphasis on the behavior of the Regulated Financial Intermediation System ( Sistema de Intermediación Financiera Regulado) and, in particular, the National Banking System (Sistema Bancario Nacional), considered key axes for evaluating the stability and performance of the financial sector in the country.
Regarding loans to the private sector, it was observed that during 2025 there was a moderation in its rate of expansion, especially from the second quarter onward. However, its growth in real terms exceeded that of the gross domestic product and maintained a significant dynamic within economic activity.
When loans are broken down by currency, a slowdown is evident in both colones and dollars.