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Costa Rica Banking Profits Up 22.5%

Article Summary:

Costa Rican banks reported profits of nearly $276 million in 2011, which is 22.5% increase over 2010.

Photo Credit: El Financiero

Original Article Text From El Financiero via Google Translate :

Banking Sector Profits Grew by 22.5% in 2011

The profits of the banking system last year totaled about ¢ 138,000 million is an amount in real terms grew by 22.5% compared to end December 2010.It was a good year for the banking industry, especially for the Banco Popular, which was the entity that registered the highest gains of 20,111 with a total of ¢ 38,000 million.

People achieving increased profits by 43% over the previous year and is the first time that the entity achieves that position.

In second place was laid on BAC San José, with earnings less than ¢ 27,000 million, followed by the Banco de Costa Rica (BCR) and the Banco Nacional (BN) which remained in fourth place.

The latter entity, however, recorded in 2011, according to data reported to the Superintendent of Financial Institutions (Sugef), a drop in performance from 20% in real terms by 2010.It was the BN along with HSBC and Citibank entities ended the year with a record down in profits compared to December last year.

Only Citi posted losses last year of ¢ 222 million, but that is offset a fall in its entirety by the behavior and its operation under the CMB signature which is placed in ninth place ranking with revenue grew by 74 % to almost add the ¢ 2,000 million.

The 2012 National Bank was the entity with the most money, followed by Banco Popular, Banco de Costa Rica and BAC San José.84% of total industry profits in 2011 are generated by the four largest banks by assets (BN, BCR, Popular and BAC San José).

Link to Original Article:

From El financiero

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