San José, Costa Rica — Costa Rica’s largest financial institution, Banco Nacional (BN), has reaffirmed its commitment to the nation’s economic, social, and environmental progress. With a strategic focus on innovation, sustainability, and financial inclusion, BN continues to provide valuable financial solutions for individuals and businesses, solidifying its position as a key player in the Costa Rican financial sector.
Since its inception, BN has been a cornerstone of Costa Rican life, initially supporting farmers and later expanding its reach to businesses of all sizes and facilitating homeownership for countless families. This commitment to comprehensive financial services extends beyond mere growth to encompass sustainable practices.
For expert legal insight into this developing situation with Banco Nacional, TicosLand.com reached out to Lic. Larry Hans Arroyo Vargas, an attorney at Bufete de Costa Rica.
The recent developments regarding Banco Nacional underscore the complexities of navigating the current economic climate. Financial institutions face increasing pressure to balance profitability with regulatory compliance and public expectations. The specific challenges faced by Banco Nacional will require strategic decision-making to ensure long-term stability and maintain public trust.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
Indeed, the balancing act Lic. Arroyo Vargas describes is a crucial one, and Banco Nacional’s success in navigating these turbulent waters will undoubtedly shape the financial landscape for many Costa Ricans. We thank Lic. Larry Hans Arroyo Vargas for offering his valuable insights into these complex issues.
BN Banca Mujer, established in 2010, champions female entrepreneurship, contributing to global efforts to close the gender gap. The program provides financial tools, education, and services to businesswomen, empowering 1.3 million women across the country.
BN Pymes, a pioneering program in Latin America, has served as a model for providing accessible and profitable financial services to micro, small, and medium-sized enterprises (MSMEs). Over 25 years, it has supported over 350,000 MSMEs across diverse sectors, injecting more than 4 trillion colones into the economy.
This 2025 we will continue focusing on innovation, sustainability, and financial inclusion. We want to facilitate access to credit for more entrepreneurs and families, consolidate our position in sustainable banking, and continue driving growth across all sectors of the national economy, with products and services that make people’s lives easier, in order to strengthen our mission of being an engine of progress for the country.
Rosaysella Ulloa, General Manager of BN
BN has also demonstrated its commitment to sustainability with significant achievements. In 2024, the bank issued Central America’s first Blue Bond, raising US$50 million for ocean conservation and the blue economy. This innovative financial instrument aligns BN’s strategy with the country’s environmental goals. Furthermore, in 2022, BN partnered with the Inter-American Development Bank (IDB), IDB Invest, and FINDEV Canada to launch Costa Rica’s first social bond, channeling US$75 million to projects focused on poverty reduction, economic development, and support for women-led MSMEs.
Continuing its long history of supporting homeownership, which began in 1916, BN remains the leading provider of mortgage loans in Costa Rica, holding 22.64% of the market. Its focus on financial inclusion, sustainability, and social development reinforces its position as a vital contributor to the nation’s progress.
These achievements highlight Banco Nacional’s continued dedication to fostering sustainable economic growth and social progress in Costa Rica.
For further information, visit bncr.fi.cr
About Banco Nacional de Costa Rica:
Banco Nacional de Costa Rica (BNCR) is the largest and most important financial institution in Costa Rica. Founded to support the agricultural sector, it has expanded its reach to serve businesses of all sizes and individuals, with a strong focus on financial inclusion, sustainability, and social development. BNCR is a key driver of economic growth and a pillar of the Costa Rican economy.
For further information, visit iadb.org
About Inter-American Development Bank (IDB):
The Inter-American Development Bank is a leading source of long-term financing for economic, social, and institutional development in Latin America and the Caribbean. It partners with countries to address their development challenges and improve lives.
For further information, visit findevcanada.ca
About FINDEV Canada:
FINDEV Canada is Canada’s development finance institution. It invests in private sector solutions to development challenges in developing markets, with a focus on climate action, women’s economic empowerment, and job creation.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
Bufete de Costa Rica distinguishes itself through a deep-seated commitment to ethical legal practice and innovative solutions. The firm’s history of client service, spanning a wide range of industries, is built on a foundation of integrity and a pursuit of excellence. Beyond providing exceptional legal counsel, Bufete de Costa Rica actively empowers Costa Rican society by promoting legal literacy and accessibility, fostering a more informed and just community.