Euromoney, is part of the Delinian Group, Delinian Limited, 4 Bouverie Street, London, EC4Y 8AX, Registered in England & Wales, Company number 00954730
Copyright © Delinian Limited and its affiliated companies 2023
Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement

Awards for Excellence 2009: Costa Rica

Best Bank: Scotiabank de Costa Rica

In 2006, Scotiabank bought 99.99% of Interfin, the largest privately owned bank in Costa Rica. By the end of 2008, Scotia had rebranded Interfin and merged its small middle-market Costa Rican operation with Interfin’s more commercially focused banking unit. Scotia took the opportunity to upgrade its technology during the merger. Now Luis Liberman, arguably one of the most respected bankers in Costa Rica, is turning Scotiabank de Costa Rica into the leading privately owned bank.

Despite maintaining profits, there was a rapid decline in income for banks throughout Costa Rica over the past 12 months. In December 2008, the state banks accounted for 67% of Costa Rica’s banking assets.