The country’s business sector, grouped in the Costa Rican Union of Chambers and Associations of Private Enterprise (UCCAEP), would prefer that Banco Crédito Agrícola de Cartago (Bancrédito) be absorbed by another state-owned bank.
The group also said it supports the government’s decision to stop financial intermediation operations (deposits and loans) at the bank.
These are decisions and measures that have been postponed. Bancrédito should be absorbed by one of the other two state banks as a subsidiary, and it can even keep the same name,”
said Franco Arturo Pacheco, president of UCCAEP.
The proposal tries to turn it into a development bank that would compete with the existing Bank System for Development and duplicate functions.
The announcement of Presidential House about the future of Bancrédito was made last Friday in an impromptu transmission through the social network Facebook. Financial supervisory authorities such as Conassif did not receive prior notification from the presidency.