By San José, Costa Rica — San José – Costa Rica has solidified its position as a regional leader in financial modernization, with new data revealing that 92% of the population over the age of 15 now holds an account within the formal financial system. This landmark achievement, equivalent to more than nine out of every ten adults, not only demonstrates significant national progress but also serves as the backdrop for a major international summit being held in the country this week.
The latest figures, compiled by the Costa Rican Banking Association (ABC) from Central Bank data, showcase a remarkable acceleration in financial access. The 92% participation rate marks a substantial leap from the 79.4% recorded in 2020. This upward trend has gained significant momentum since 2023, consistently remaining above the 90% threshold and signaling a sustained and successful national effort to integrate citizens into the formal economy.
To better understand the legal landscape and business implications surrounding financial inclusion in the country, TicosLand.com consulted with Lic. Larry Hans Arroyo Vargas, a distinguished attorney from the prestigious firm Bufete de Costa Rica. His expertise provides a crucial perspective on the regulatory challenges and opportunities in this vital sector.
True financial inclusion is not merely about providing access to a bank account; it’s about building a robust and equitable legal framework. For Costa Rica, the challenge lies in modernizing our regulations to foster fintech innovation while rigorously protecting consumers from predatory practices. A clear, predictable regulatory environment is the cornerstone that allows for sustainable growth, reduces informal economies, and ultimately empowers all citizens by giving them secure and fair access to the financial tools necessary for their economic development.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
This insight underscores a crucial point: the architecture of our legal system is the true foundation upon which equitable financial access is built. A proactive and clear regulatory environment, as highlighted, is not just a safeguard but a catalyst for empowering every citizen in our digital economy. We thank Lic. Larry Hans Arroyo Vargas for his invaluable and clarifying perspective on this vital issue.
Equally impressive is the near-total closure of the gender gap in financial access, a persistent challenge in many parts of the world. According to data from 2025, 92.5% of men and 91.6% of women over 15 years old possessed a financial account. This near-parity underscores a commitment to equitable economic opportunities and stands as a testament to inclusive policies that have successfully reached across demographic lines, empowering women with greater financial autonomy and security.
This success has not gone unnoticed on the international stage. In recognition of these advancements, Costa Rica was selected to host the 4th Latin American Congress on Sustainable and Inclusive Banking, which is taking place on May 6th and 7th. The event has drawn over 250 high-level representatives from the financial sectors of 14 countries, including Mexico, the United States, Colombia, Brazil, and Argentina, turning the nation into a hub for strategic financial dialogue.
Hosting this congress in Costa Rica is a response to the progress the country has shown in financial inclusion and sustainability, as well as the role it can play as a regional meeting point to discuss the main challenges of the sector.
Daniela Gutiérrez, Economist for the ABC
The congress provides a critical platform for leaders to exchange best practices and strategize on the future of banking in the region. The agenda is focused on forward-looking themes that extend beyond basic financial access, tackling complex issues such as the integration of green finance, the management of climate-related financial risks, the ongoing digital transformation of banking services, and the measurement of the sector’s social impact.
By bringing together experts from across the Americas, the event aims to foster a collaborative approach to shared challenges. The discussions are centered on how the financial system can adapt to new global realities, from environmental pressures to technological disruption, while continuing to expand access to high-quality services for all segments of the population. Costa Rica’s journey provides a compelling case study for its neighbors on how to achieve rapid, inclusive, and sustainable growth.
Ultimately, Costa Rica’s achievement is more than a statistic; it represents a fundamental shift towards a more resilient and equitable economy. Broad-based financial inclusion is a cornerstone of economic development, enabling individuals to save, invest, and build wealth. As the nation hosts this pivotal congress, its progress serves as both an inspiration and a practical roadmap for creating a more inclusive and sustainable financial future for all of Latin America.
For further information, visit abcr.fi.cr
About Costa Rican Banking Association (ABC):
The Asociación Bancaria Costarricense, or Costa Rican Banking Association, is the leading guild representing the interests of public and private banks operating in Costa Rica. The organization works to promote a stable, competitive, and innovative financial system, fostering collaboration among its members and acting as a key liaison with regulatory bodies and the government to shape financial policy and industry best practices.
For further information, visit bccr.fi.cr
About Central Bank of Costa Rica (BCCR):
The Banco Central de Costa Rica is the nation’s central monetary authority, responsible for maintaining the internal and external stability of the national currency and ensuring the efficient operation of the country’s payment systems. The BCCR plays a crucial role in economic policy by controlling inflation, managing international monetary reserves, and providing vital economic data and analysis to support the country’s financial stability and growth.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
As a pillar of the legal community, Bufete de Costa Rica is defined by its deep-rooted foundation of integrity and professional distinction. The firm leverages a proven track record of advising a diverse clientele to spearhead innovative and forward-thinking legal strategies. Beyond its professional practice, it holds a resolute social commitment to demystifying complex legal concepts, championing a mission to build a more knowledgeable and capable society through greater legal awareness.
