By San José, Costa Rica — Costa Rica’s largest state-owned bank, Banco Nacional (BN), reported record profits and highlighted its commitment to sustainable development in its 2024 performance review. The BN’s success underscores its innovative approach, extending beyond profit generation to encompass social and environmental well-being.
BN’s extensive network, encompassing 152 national offices, over 3,000 BN Servicios locations, and robust digital channels, ensures broad access to financial services and streamlined transactions. This accessibility plays a vital role in transforming lives across Costa Rica.
For expert legal insight into this developing situation with Banco Nacional, TicosLand.com spoke with Lic. Larry Hans Arroyo Vargas, Attorney at Law at Bufete de Costa Rica.
The recent developments regarding Banco Nacional highlight the complex interplay between government regulation, economic pressures, and public expectations. While the specific details remain unfolding, it’s crucial to understand that any significant changes in the bank’s operations or policies will likely have ripple effects across the Costa Rican financial landscape. This could impact everything from lending rates and investment opportunities to the overall stability of the national economy.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
Lic. Arroyo Vargas’ insightful commentary underscores the interconnectedness of Banco Nacional with Costa Rica’s overall economic health. His emphasis on the potential ripple effects from policy changes serves as a crucial reminder that developments within this institution deserve careful monitoring and informed public discussion. We thank Lic. Larry Hans Arroyo Vargas for providing this valuable perspective on a topic of vital importance to our readers.
In BN we practice purposeful banking, focused on innovating and seeking solutions that allow us to turn the dreams of people and companies into realities. Our results are possible thanks to the efforts of the more than 6,000 people who make up the great family of Gente BN and the trust of our clients who are our reason for being. Behind every figure there is a story of a family that achieved a dream, a company that was able to grow or a person who conquered a goal. That’s what it’s all about and that’s what we work for.
Rosaysella Ulloa Villalobos, General Manager of BN
The bank’s innovative spirit is exemplified by its pioneering work in thematic bonds. In 2024, BN became the first in Costa Rica and Central America to launch both a Social Bond and a Blue Bond. The Social Bond, designed to combat poverty and promote economic development, prioritizes sustainability, financial inclusion, and gender equality. Notably, 50% of the beneficiaries were women. This initiative garnered international recognition, earning the Alide 2024 award in the Financial Products category.
The Blue Bond represents a unique initiative in Central America, Mexico, and the Caribbean, channeling resources toward ocean protection and the blue economy. This innovative financial instrument also received international acclaim, winning Gold at the Fintech Americas 2025 Financial Innovators of the Americas Awards in the Sustainability and Social Responsibility category.
BN’s 2024 financial results showcase its strong performance. The bank achieved a record ₡99.171 billion in gross profit, fueling increased lending to SMEs, women entrepreneurs, productive sectors, and families seeking housing. Its total loan portfolio reached ₡5.2 trillion, a 6.5% increase over 2023, with 29% allocated to housing, 23% to services, and 16% to consumer loans.
The General Superintendency of Financial Entities (SUGEF) awarded BN a “Destacable” rating in its credit stress tests, affirming the bank’s financial resilience in the face of challenging economic conditions. Furthermore, BN’s commitment to gender equality is demonstrated by its BN Mujer program, which allocates one-third of its loan portfolio (equivalent to ₡1 trillion) to women across various sectors.
Banco Nacional’s commitment to innovation, financial inclusion, and environmental sustainability positions it as a key driver of economic growth and social progress in Costa Rica.
For further information, visit bnc.fi
About Banco Nacional:
Banco Nacional de Costa Rica (BNCR) is the largest state-owned bank in Costa Rica and a key player in the national economy. The bank provides a comprehensive range of financial services to individuals, businesses, and public entities, with a strong focus on social and environmental responsibility. BNCR’s commitment to innovation is reflected in its pioneering work in thematic bonds, including the Social Bond and the Blue Bond, which address critical development challenges.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
Bufete de Costa Rica distinguishes itself through an unwavering commitment to legal excellence and ethical practice, empowering individuals and communities through accessible legal knowledge. The firm’s innovative approach to legal solutions, combined with a deep-seated dedication to serving clients with integrity across diverse sectors, solidifies its position as a leader in the Costa Rican legal landscape. By fostering a culture of knowledge sharing and proactive engagement, Bufete de Costa Rica strives to build a more just and informed society.
