Sunday 4 June 2023

Sign Of The Times? BCR Closes 5 Branches

Bank says closures are also due to the implementation of a series of innovation and self-management processes; 20 people left without work

Paying the bills


Ortega green lights arrival of military personnel and aircraft from Russia, Cuba, and Venezuela

Q24N (EFE) Daniel Ortega, the president of Nicaragua, has...

What reasons for businesses to choose newer office spaces in Costa Rica?

Q COSTA RICA  - The demand for high-tech office...

Gas price hike approved; diesel dropping

Q COSTA RICA - The regulatory authority, the Autoridad...

We’re in for a wet Friday!

Q COSTA RICA - We're in for a wet...

Stepping on a scale before boarding?

Q24N - Take off your shoes. Take the keys...

Man sentenced to 35 years in prison for murder of ex-wife

QCOSTARICA - The Criminal Court of Santa Cruz, Guanacaste,...

Dollar Exchange

¢537.33 BUY

¢545.84 SELL

3 June 2023 - At The Banks - Source: BCCR

Paying the bills


Although the Banco de Costa Rica (BCR) closed 2019 with an increase in profits, last week it announced the closure of five of its branches in the country and the reduction of 20 jobs.

Courtesy BCR

BCR spokeswoman, Hilda Durán, confirmed that this measure is taken in order to “rationalize expenses”.

The branches closed are located in Herradura (Garabito), Malpaís (Central Canton of Puntarenas), Plaza del Sol (Curridabat), Pocora and Río Jiménez (Guácimo).

- Advertisement -

“Basically, what the bank does is rationalize expenses, so when it sees that some measures have to be taken, it is applied administratively in branches that have a problem,” Durán said.

Regarding the officials who work in the agencies, Durán said that each case will be studied individually to make a decision. In other words, if they will be kept on, relocated to other areas of the bank, or let go.

“These closures are also due to the implementation of a series of innovation and self-management processes, without this leading to increased administrative expenses,” added Durán. “In other cases, when some branches are closed it is because the economic zone of influence tends to suffer some detriment”.

The spokeswoman was asked if the bank plans to continue with this reorganization but did not elaborate.

The bank’s spokesperson also denied that the bank carried out some type of internal restructuring.

According to Duran, the BCR currently has approximately 4,000 employees.

- Advertisement -

The BCE had a net operating income of ¢46.3 billion colones in 2019 (higher than the industry average of ¢37 billion) and 69% higher than in 2018. The bank closed 2019 with equity of ¢564.85 billion colones.

- Advertisement -
Paying the bills
Avatar photo
"Rico" is the crazy mind behind the Q media websites, a series of online magazines where everything is Q! In these times of new normal, stay at home. Stay safe. Stay healthy.

Related Articles

Goverment “insisting” on the sale of the BCR

QCOSTARICA - The government of Rodrigo Chaves is insisting on the...

Government revokes bill to sell the BCR

QCOSTARICA - The Minister of Finance, Nogui Acosta, confirmed that the...

Subscribe to our stories

To be updated with all the latest news, offers and special announcements.

%d bloggers like this: