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Banco Popular of Costa Rica earned $74M in 2012

Categories: Business
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Published on: 2013/01/22

from:  Banco Popular disminuyó sus utilidades en un 4% – El Financiero.

Banco Popular of Costa Rica earned $74M in 2012; nationwide, commercial banks nationwide earned 30% more in 2012 than in 2011.

Popular Bank authorities announced this morning a drop in profits of 4% from ¢38,600 million ($77M) in 2011 to ¢37,093 million ($74M) in 2012.

Gerardo Porras, corporate general manager of the company, said the bank continues along the path of growth to contribute to economic and social development of workers.

At the system level, commercial banks increased their profits by 30% last year. The National Bank was the one who earned the bulk of the banking profits, while the HSBC Bank (now Davivienda) had the highest growth of the year (186%).

Returning to Popular, this year the rating agency, Fitch Ratings, issued the Bank a AA rating for its long-term issues and F1 for short term.

For 2013 the bank has projected a placement of ¢410,000 million ($820M) in the areas of consumer credit and development.

 



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