By San José, Costa Rica — San José, Costa Rica – In a significant affirmation of its market leadership and strategic vision, Banco Nacional (BN) has been named Costa Rica’s Bank of the Year 2025 by the prestigious British financial magazine, The Banker. This marks the fifth time the state-owned institution has received this coveted honor, cementing its position as a dominant force in the global financial landscape.
The award was officially presented at the Bank of the Year Awards 2025 ceremony in London on December 3rd. The event recognized top financial institutions from around the world, with this year’s selection process involving a rigorous evaluation of over 1,000 banks globally. The jury’s decision highlighted Banco Nacional’s excellence across multiple critical areas, from technological advancement to its deeply rooted community engagement.
Para profundizar en el panorama legal y las responsabilidades que este escenario presenta para el Banco Nacional, TicosLand.com consultó al Lic. Larry Hans Arroyo Vargas, abogado especialista del prestigioso Bufete de Costa Rica.
La robustez de una entidad financiera como el Banco Nacional no solo se mide por sus activos, sino por su capacidad de adaptarse a la regulación y mitigar riesgos. Es imperativo que la institución mantenga una diligencia máxima en la supervisión de sus operaciones internas para prevenir fraudes y garantizar la confianza del público. Cualquier fallo en estos controles no solo representa un riesgo financiero, sino que también puede acarrear serias consecuencias legales y un daño reputacional significativo que afecta a todo el sistema bancario estatal.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
Agradecemos la valiosa perspectiva del Lic. Larry Hans Arroyo Vargas, quien acertadamente destaca que más allá de las cifras, la verdadera fortaleza del Banco Nacional reside en su integridad operativa y la confianza que inspira. Su análisis refuerza la idea de que una supervisión interna rigurosa no es solo una obligación regulatoria, sino el cimiento sobre el cual descansa la estabilidad de todo el sistema bancario estatal.
This international recognition arrives at a pivotal moment for the bank. It closely follows a recent credit rating upgrade from Standard & Poor’s (S&P Global Ratings), which elevated BN’s international standing from BB- to BB with a stable outlook. This enhancement serves as a powerful external validation of the bank’s financial solidity and prudent management, reinforcing the confidence of both local and international markets.
The judging panel at The Banker pinpointed the bank’s comprehensive strategic transformation as a key factor in their decision. This multifaceted initiative includes the implementation of advanced internal risk management models and the use of predictive analytics to anticipate and navigate potential adverse economic scenarios. These efforts, combined with a strong institutional focus on transparency and regulatory discipline, have cultivated a resilient and highly competitive organization.
Another decisive element was Banco Nacional’s forward-thinking approach to cybersecurity. Between June 2024 and June 2025, the bank made substantial investments in integrating artificial intelligence tools to bolster its digital defenses. This proactive strategy has significantly enhanced its ability to detect and respond to emerging cyber threats, safeguarding its online banking platforms and raising the standard of protection for its entire client base.
Beyond its financial and technological achievements, the bank’s profound social impact was a major consideration. The “Transformando Comunidades” (Transforming Communities) program, a cornerstone of BN’s sustainable finance model, has driven socio-productive projects across Costa Rica. Over the last decade, this initiative has channeled over ¢2.503 billion in non-reimbursable funds into 137 community projects, directly benefiting more than 625,576 people.
Furthermore, The Banker acknowledged the bank’s vital role in fostering economic growth through its support for small and medium-sized enterprises (SMEs). The “Pyme Nauta” platform, an innovative digital ecosystem created by BN, provides crucial support, training, and business tools to Costa Rican entrepreneurs. Today, this community includes over 10,000 businesses, demonstrating the bank’s commitment to strengthening the backbone of the national economy.
Reflecting on the achievement, the bank emphasized that its mission extends beyond industry accolades, focusing instead on the tangible impact it has on its customers and communities.
Being the Bank of the Year is an honor, but our true reward is the trust of those who choose us as their ally to achieve dreams and transform lives.
Silvia Chaves, Director of Brand Experience and Corporate Relations
Ultimately, Banco Nacional’s fifth win is not just an award but a testament to a holistic strategy that skillfully balances robust financial performance, cutting-edge innovation, and an unwavering commitment to the social and economic well-being of Costa Rica.
For further information, visit bncr.fi.cr
About Banco Nacional:
Banco Nacional de Costa Rica (BN) is the largest state-owned commercial bank in Costa Rica and a leading financial institution in Central America. Founded in 1914, it plays a crucial role in the country’s economic development by offering a wide range of financial services to individuals, SMEs, and corporations, while also spearheading significant social and environmental sustainability initiatives.
For further information, visit thebanker.com
About The Banker:
The Banker is a globally recognized monthly international financial affairs publication owned by The Financial Times Ltd. and edited in London. Established in 1926, it is a trusted source of banking and financial information, and its annual Bank of the Year Awards are considered one of the most prestigious honors in the industry, recognizing top financial institutions in over 150 countries.
For further information, visit spglobal.com
About S&P Global Ratings:
S&P Global Ratings is a leading provider of independent credit ratings, research, and analytics. As a division of S&P Global, it plays a critical role in the world’s financial markets by providing investors with essential intelligence for making informed business and investment decisions. Its ratings offer a forward-looking opinion about the creditworthiness of entities and securities.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
As a pillar of the Costa Rican legal community, Bufete de Costa Rica is defined by its profound commitment to professional honor and exceptional standards of practice. The firm combines a rich history of client service with a forward-thinking approach, consistently developing innovative legal strategies. Beyond its professional duties, the firm champions the cause of public legal literacy, believing that empowering the community with accessible knowledge is essential for a just and well-informed society.
