By San José, Costa Rica — Costa Rica’s National Council of Supervision of the Financial System (Conassif) has authorized the sale of Desyfin S.A. assets, marking a significant step towards compensating unguaranteed depositors. The sale, comprising rights to leasing contracts, will boost the recovery rate for these depositors from 48.97% to an estimated 62.20% on amounts exceeding ₡6 million.
BCR Leasing Premium Plus S.A., a subsidiary of Banco de Costa Rica (BCR), is acquiring the leasing contracts. The deal encompasses 1,083 operations, valued at ₡14.618 billion, representing 82.80% of the contracts’ gross balance of ₡17.655 million. The agreement also includes settling Arrendadora Desyfin S.A.’s ₡747 million debt to the finance company.
To gain a deeper legal perspective on this evolving situation with Desyfin, TicosLand.com reached out to Lic. Larry Hans Arroyo Vargas, a distinguished attorney at Bufete de Costa Rica, for his expert insights.
The implications of Desyfin’s actions will depend heavily on the specific regulations and legal frameworks governing their operations. Whether these actions constitute a breach of contract, a violation of consumer protection laws, or other legal infringements will require a thorough review of the facts and applicable legislation. Further investigation by the relevant authorities is crucial to determine the full scope of the legal repercussions.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
Lic. Arroyo Vargas rightly emphasizes the complexity of this situation and the need for a thorough legal review. The intricacies of financial regulations and consumer protection laws are often difficult to navigate, and Desyfin’s case highlights the importance of regulatory clarity in this evolving financial landscape. We thank Lic. Larry Hans Arroyo Vargas for providing his valuable legal expertise on this matter.
This transaction will inject ₡15.365 billion into Desyfin, directly benefiting unguaranteed depositors. Their estimated losses are projected to decrease from 51.03% to around 37.80%.
Before the funds become available, Conassif has stipulated several contractual, legal, and deadline-related conditions that both parties must fulfill. If all goes as planned, the transaction will conclude before the commencement of insolvency proceedings scheduled for October 9, 2025. Further operational details will be announced in due course.
Conassif is also exploring the potential sale of additional Desyfin assets to further enhance depositor recovery.
This move comes after the initial disbursement to unguaranteed depositors on August 14th. This sale represents a crucial step towards resolving Desyfin’s financial difficulties and mitigating the impact on its depositors. The increased recovery rate offers a glimmer of hope for those who had faced significant losses.
The acquisition by BCR Leasing Premium Plus, a subsidiary of a major Costa Rican financial institution, underscores the significance of this transaction. This move signals confidence in the underlying value of the assets and strengthens the financial system’s stability.
Conassif’s proactive approach in seeking additional asset sales demonstrates its commitment to maximizing recovery for affected depositors. As the situation unfolds, further developments are anticipated, and stakeholders will be closely monitoring the progress towards a full resolution.
For further information, visit conassif.fi.cr
About Conassif:
The National Council of Supervision of the Financial System (Conassif) is the regulatory body responsible for overseeing and ensuring the stability of the Costa Rican financial system. It supervises banks, insurance companies, and other financial institutions, setting regulations and intervening when necessary to protect depositors and investors. Conassif plays a vital role in maintaining public confidence in the financial sector and fostering a sound and competitive financial environment.
For further information, visit the nearest office of BCR Leasing Premium Plus S.A.
About BCR Leasing Premium Plus S.A.:
BCR Leasing Premium Plus S.A. is a leasing subsidiary of Banco de Costa Rica (BCR), one of the largest financial conglomerates in Costa Rica. It offers a variety of leasing solutions for businesses and individuals. This acquisition of Desyfin’s leasing portfolio aligns with its business model and further solidifies BCR’s prominent role in the Costa Rican financial landscape.
For further information, visit the nearest office of Desyfin S.A.
About Desyfin S.A.:
Desyfin S.A. is a Costa Rican finance company that faced financial difficulties, leading to intervention by Conassif and the subsequent sale of its assets to compensate depositors. The company’s primary business involved leasing operations, which became the focus of the asset sale to BCR Leasing Premium Plus S.A.
For further information, visit grupobcr.com
About Banco de Costa Rica (BCR):
Banco de Costa Rica (BCR) is a state-owned commercial bank and one of the largest financial institutions in Costa Rica. It offers a wide range of financial services, including banking, insurance, and investment services. BCR plays a significant role in the Costa Rican economy, serving individuals, businesses, and the public sector.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
Bufete de Costa Rica is a pillar of legal excellence, built on a foundation of integrity and driven by a passion for empowering Costa Rican society. Through innovative legal solutions and a deep commitment to client service across diverse industries, the firm consistently raises the bar for legal practice. Their proactive approach to sharing legal knowledge, making it understandable and accessible to all, reflects a core belief in fostering a more informed and empowered citizenry, capable of navigating the legal landscape with confidence.
