Central American Awards for Excellence 2013: By country
|Regional Awards for Excellence 2013: Central America and the Caribbean|
|Central American winners by country
Best Bank: Banco de Costa Rica
Banks in Costa Rica are still digesting new regulations that limit the growth of their credit portfolios to curb the recent rapid expansion in dollar-denominated lending that has been fuelled by the large spreads in local and US interest rates.
Total loan growth has been capped by the central bank at 12% a year (9% for dollar-denominated loans). This will affect all the banks, including Banco de Costa Rica, which grew total loans by 15.5% in 2012, taking its market share to 20.4%.
The bank delivered across the board: revenues rose by 28.6% to $518 million; net income grew by 25.5%