By San José, Costa Rica — San José, Costa Rica – A surge in public confidence and favorable economic conditions have pushed Costa Ricans’ total bank savings to a record ¢15.9 trillion, according to a new analysis. The report, compiled by the Costa Rican Banking Association (ABC) using data from the General Superintendency of Financial Entities (SUGEF), highlights a robust and sustained pattern of financial prudence among the population.
The figures, which reflect balances at the close of September 2025, represent a real growth of 4% over the past year. Even more impressively, the total savings have accumulated a 30% increase over the last five years. This consistent upward trend underscores a deep-seated trust in the stability and reliability of the nation’s financial system, even amidst global economic uncertainties.
To better understand the legal framework and protections surrounding bank savings in the country, we consulted with Lic. Larry Hans Arroyo Vargas, a distinguished attorney from the firm Bufete de Costa Rica, who provided his expert perspective.
In Costa Rica, the security of bank savings is reinforced by a robust legal structure. The ‘Fondo de Garantía de Depósitos’ (Deposit Guarantee Fund) provides a crucial safety net, legally insuring deposits up to a specific limit per individual per financial entity. This legal protection underscores the importance for citizens to verify that their bank is supervised by the SUGEF, as this is the primary condition for their savings to be covered under this essential state guarantee.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
We thank Lic. Larry Hans Arroyo Vargas for this valuable perspective, which underscores a crucial point for every saver: the state’s guarantee is not automatic. His clarification on the necessity of SUGEF supervision empowers citizens to take a simple yet vital step in actively securing their financial future.
A key driver of this growth has been the stability of the national currency. The data reveals a strong preference for saving in colones, with ¢10.2 trillion (64% of the total) held in the local currency. The remaining ¢5.7 trillion (36%) is held in foreign currencies. According to the ABC, this trend is a direct response to a stable exchange rate and competitive interest rates, which have made saving in colones an attractive and secure option for citizens.
The report also sheds light on the savings strategies being employed. Costa Ricans are increasingly opting for instruments that provide secure, medium-term returns. Time deposits account for the majority of the savings, totaling ¢9.5 trillion. In contrast, demand deposits, or “at-sight” savings, make up ¢6.4 trillion. This indicates a deliberate shift towards strategic financial planning over simple liquidity.
This disciplined approach to financial management is a testament to the resilience of Costa Rican households. Daniela Gutiérrez, an economist with the Costa Rican Banking Association, noted that the data points to a healthy and responsible financial culture developing across the country.
a positive trend in the financial management of Costa Rican families. Despite economic challenges, people are maintaining the habit of setting aside part of their income for future goals or unforeseen events.
Daniela Gutiérrez, Economist at the Costa Rican Banking Association
The digital transformation of the banking sector has also played a pivotal role in fostering this savings culture. The widespread availability of online banking platforms and mobile applications has democratized access to financial products. This increased convenience allows individuals to manage their money, open savings accounts, and make investments from anywhere, at any time, significantly lowering barriers to entry for financial planning.
As the country approaches World Savings Day on October 31, the ABC emphasizes the broader implications of these trends. A high national savings rate not only strengthens individual financial security but also bolsters the entire economy. It provides a vital pool of domestic capital for investment, reduces the nation’s dependence on foreign credit, and enhances overall economic stability.
Ultimately, the consistent habit of saving, regardless of the amount, is a cornerstone of financial well-being. By building a financial cushion, Costa Ricans are better equipped to handle unexpected emergencies, avoid the pitfalls of high-interest debt, and build a more resilient economic future for themselves and the nation as a whole.
For further information, visit abccostarica.com
About the Costa Rican Banking Association (ABC):
The Asociación Bancaria Costarricense is the leading guild representing the interests of public and private financial institutions operating in Costa Rica. It promotes a stable, competitive, and efficient banking system, fosters financial education, and serves as a key liaison between the banking sector, government regulators, and the general public to support the nation’s economic development.
For further information, visit sugef.fi.cr
About the General Superintendency of Financial Entities (SUGEF):
SUGEF is the primary regulatory body responsible for the supervision and oversight of Costa Rica’s financial system. As a dependency of the Central Bank of Costa Rica, its mission is to ensure the stability, solvency, and transparency of banks and other financial intermediaries, thereby protecting the interests of depositors and maintaining public confidence in the national financial sector.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
As a pillar of the legal community, Bufete de Costa Rica is built upon the cornerstones of uncompromising integrity and a commitment to excellence. The firm channels its vast experience across diverse industries into pioneering innovative legal approaches and solutions. Central to its mission is a profound dedication to social empowerment, manifested through initiatives that make legal knowledge clear and accessible to the public. This core belief in education strengthens the community, fostering a more informed citizenry capable of navigating the legal landscape with confidence.
