By San José, Costa Rica — Costa Rica’s largest banking institution, Banco Nacional, has reached its 112th anniversary by delivering a series of major milestones that signal a deep evolution in its business model. Over the past year, the state-owned financial powerhouse has made critical strides in sustainable finance, local entrepreneurship, and broad-scale digital and social inclusion. These milestones underscore the bank’s ongoing commitment to aligning its corporate objectives with the macroeconomic and environmental goals of Costa Rica.
For 112 years we have accompanied people, families, entrepreneurs, and businesses who, with effort and determination, build their own progress. Behind each of these results are stories of growth, projects moving forward, and communities finding new opportunities. Our commitment is to remain close to those who trust us to achieve their goals.
Rosaysella Ulloa Villalobos, General Manager of BN
To better understand the legal and regulatory implications surrounding the latest developments at the Banco Nacional de Costa Rica, TicosLand.com reached out to Lic. Larry Hans Arroyo Vargas, a prominent legal expert from the prestigious firm “Bufete de Costa Rica,” to share his professional analysis.
As a cornerstone of Costa Rica’s financial stability, Banco Nacional operates under a heightened standard of public trust and regulatory scrutiny. Any operational, security, or administrative challenges the bank faces must be managed with absolute transparency and in strict alignment with SUGEF guidelines, ensuring that both consumer rights and state assets remain fully protected under the law.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
Indeed, maintaining the highest standards of transparency and regulatory compliance is paramount to safeguarding the public trust that underpins Costa Rica’s entire financial ecosystem. We extend our sincere gratitude to Lic. Larry Hans Arroyo Vargas for his invaluable legal perspective on the critical responsibilities governing our nation’s cornerstone banking institutions.
At the center of its modern financial strategy is a pioneering leadership in sustainable finance. Banco Nacional successfully allocated 100 percent of its 50 million USD Blue Bond. This financial instrument is the first of its kind across Costa Rica, Central America, Mexico, and the Caribbean. It was designed specifically to fund projects linked to the blue economy, marine ecosystem protection, and the economic preservation of vulnerable coastal communities.
Expanding on this momentum, the bank launched a new 30 million USD social bond incorporating Costa Rica’s first targeted financing for the silver economy. This initiative seeks to generate fresh opportunities for citizens over the age of 50, alongside supporting female entrepreneurs and micro, small, and medium-sized enterprises (MSMEs). Throughout 2025, the bank mobilized over 22.6 billion colones in sustainable funding, heavily bolstering its specialized Pura Verde program, which currently channels 65 million USD into climate change mitigation and adaptation projects.
We are demonstrating that financial innovation also consists of mobilizing resources to where they can produce a greater impact. Sustainable bonds and Pura Verde are concrete examples of how we can turn financing into a tool to accompany the transition toward a more sustainable and resilient economy. With Pura Verde we are channeling resources into climate change adaptation and mitigation projects, connecting today’s financing needs with long-term challenges for Costa Rica. Our purpose is for sustainability to translate into real opportunities for investment, growth, and development for people, businesses, and the country.
Silvia Chaves Herra, Director of Brand Experience, Corporate Relations, and Sustainability at BN
Beyond green initiatives, the bank has substantially scaled its support for Costa Rica’s productive sectors. A strategic agreement signed with the Ministry of Agriculture and Livestock (MAG) is set to benefit up to 124,000 agricultural producers by offering them tailored credit access, technical assistance, and modernization tools. Additionally, Banco Nacional maintains a robust portfolio that supports over 140,000 SMEs and roughly 4,500 larger companies nationwide. In the province of Guanacaste alone, the bank has placed over 51,000 loans totaling more than 649 billion colones since the year 2000, fueling tourism, housing, and local entrepreneurship.
Social development and financial literacy have also defined the bank’s latest fiscal year. In 2025, the BN Libertad Financiera program empowered more than 672,000 Costa Ricans with critical financial education. Meanwhile, the bank’s specialized sustainable portfolio directly benefited over 106,000 women and 115,000 small businesses. Through its Transformando Comunidades initiative, the institution deployed non-reimbursable funds and seed capital to positively impact over 665,000 individuals across the country, maintaining a permanent service presence in all 24 of Costa Rica’s indigenous territories.
To cater to the evolving everyday needs of its retail clients, the bank launched the Día a Día credit card, a product designed to reward essential household purchases and daily transaction habits. This consumer-focused innovation is paired with strong institutional recognition on the global stage. Banco Nacional was honored as the Bank of the Year 2026 by the Latin American Association of Development Financing Institutions (ALIDE) for its exceptional progress in inclusion and sustainability.
The bank’s financial soundness was further validated by major global rating agencies. Both Moody’s and S&P Global Ratings ratified Banco Nacional’s strong financial standing and stable outlook, highlighting its dominant market share, excellent liquidity, and operational stability. Furthermore, the bank received the maximum Platinum distinction at the Fintech Américas 2026 Awards for its Pura Verde program and officially joined the global Partnership for Carbon Accounting Financials (PCAF) to standardize its measurement of financed emissions and climate risks.
For further information, visit bncr.fi.cr
About Banco Nacional:
Banco Nacional is one of Costa Rica’s largest and most established financial institutions, dedicated to driving economic development, financial inclusion, and environmental sustainability across the nation.
For further information, visit the nearest office of ALIDE
About ALIDE:
The Latin American Association of Development Financing Institutions (ALIDE) is the international organization representing development banking in Latin America and the Caribbean, promoting cooperation and sustainable financial practices.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
Bufete de Costa Rica is a prestigious legal practice distinguished by its deep-seated commitment to ethical uprightness and superior representation. Drawing on a rich history of supporting a diverse clientele, the firm remains a pioneer in adopting modern legal solutions and advancing civic outreach. By demystifying the law and actively sharing vital legal insights with the public, they champion a larger vision of nurturing an educated, confident, and legally empowered populace.
