No menu items!

COSTA RICA'S LEADING ENGLISH LANGUAGE NEWSPAPER

HomeArchiveBanco Cuscatlán Named Bank of the Year

Banco Cuscatlán Named Bank of the Year

LATINFINANCE, a magazine coveringfinance, business and investment inLatin America and the Caribbean, hasnamed Banco Cuscatlán as the CostaRican Bank of the Year for 2004.According to a statement from thebank, LatinFinance editors evaluatedbanks’ utilities, growth, expansion, diversificationof products and services, andmarket ranking.The LatinFinance article on BancoCuscatlán, as released by the bank lastweek, says Cuscatlán, one of the top 10banks in Costa Rica, had a 50% increasein assets in 2003, the largest increase forany Costa Rican bank that year. Currentassets total $234.5 million.The bank also cut past-due loans by53% this year, the largest drop among thecountry’s top banks, and has the lowestamount of overdue loans at less than $1.1billion, according to the article.Vanessa López, marketing managerfor Cuscatlán de Costa Rica, says thecompany is highly satisfied with theaward, especially since the bank has onlybeen operating in Costa Rica for fouryears. It bought out BFA International in2000.Cuscatlán de Costa Rica is a whollyowned subsidiary of a Panama-basedcompany, but is ultimately owned by ElSalvador’s Banco Cuscatlán, that country’ssecond-largest bank, which also hassubsidiaries in Guatemala, Panama andHonduras, according to the bank’s Website.

Trending Now

Judicial Corruption Exposed in Costa Rica’s Latest Drug Bust

Costa Rican authorities took down a cocaine smuggling operation Tuesday that moved drugs from South America to the United States, with a judicial worker...

Costa Rica Seeks New Air Routes Amid Decline in European Tourism

Costa Rica is working to increase the number of international flights entering the country, as it faces a concerning drop in tourist arrivals.  The...

Costa Rica President Stays in Office Amid Legal Pressures and Speculation

President Rodrigo Chaves Robles has announced that he will not resign from the Presidency, ending months of speculation fueled by political rumors and legal...

Costa Rican Bishop Presents Coffee and Honey to Pope at the Vatican

Monsignor Daniel Blanco, Auxiliary Bishop of San José, Costa Rica, presented Pope Leo XIV with a special gift during the general audience held at...

Costa Rica Embraces IHRA to Combat Antisemitism in Region

Costa Rica has formally adopted the International Holocaust Remembrance Alliance's (IHRA) working definition of antisemitism. This step positions the country as the sixth in...

Venezuelan Migrants Describe Hellish Stay in El Salvador Jail

Mervin Yamarte left Venezuela with his younger brother, hoping for a better life. But after a perilous jungle march, US detention, and long months in...
Avatar
spot_img
Costa Rica Coffee Maker Chorreador
Costa Rica Coffee Maker Chorreador
Costa Rica Travel Insurance
Costa Rica Rocking Chait
Costa Rica Travel

Latest News from Costa Rica