Monday 19 April 2021
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Costa Rica Sustainable Model & Investment Opportunities

Q BUSINESS - The Business Year (TBY) gathered together three prominent businessmen in Costa Rica to discuss economic growth and the challenges going forward: Alberto Arguedas, Executive Director, AmCham Costa Rica; Edward F. Sanchez, General Manager, Citibank Costa Rica; and Humberto Pacheco, Chairman, Pacheco...

Citibank Dispels Doubts Over Accounts Closure

Citibank additionally claimed they would keep financial relations with Venezuelan customers Following risk assessment, US bank Citibank confirmed the closure of some accounts of Venezuelan customers in the United States. In a communiqué sent to media outlets, the financial institution claimed: “Following a periodic risk assessment...

Scotiabank Announces Purchase of Citibank’s Retail Banking in Costa Rica and Panama

(QCOSTARICA) Scotiabank announced this morning it has reached an agreement to acquire Citibank's retail and commercial banking operations in Panama and Costa Rica, expanding its presence in Central America. According to a statement by the Canadian bank, the acquisition is in line with Scotiabank's strategy...

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...

Scotiabank Said to Weighing Bid for Citigroup Central America

(QCOSTARICA) It is said the businesses of Citigroup Central America could be valued at about US$1.1 billion in a sale. According to a report by the Washington Post, though Canada's Bank of Nova Scotia (Scotiabank) is conducting due diligence on the assets, a deal may not...

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