Ottón Solís, from Partido Acción Ciudadana (PAC), requested president of the Republic Luis Guillermo Solís to close Banco Crédito Agrícola de Cartago (BCAC) so it is absorbed by the National Bank or the Bank of Costa Rica (BCR).
He made the request through a letter he sent to the President on March 6th, through PAC-OSF-018-2017 missive.
In legal terms, this process could be similar to the one established in the Dissolution Law of the Anglo-Costa Rican Bank. This would contribute to reduce expenses in diets, managers, rents, trips, etc., and in general, to the best use of existing resources. Cartago inhabitants would not be affected, since the other 2 state banks, as in the other provinces of the country, have a great activity,
indicated the legislator.
According to Solís, Banco Crédito Agrícola de Cartago has faced temporary crises in which the other state banks and the Public Treasury have had to intervene.
The legislator maintained that this bank was born in 1918 to promote the agricultural development of Cartago, but, according to him, having a provincial bank concentrated in one sector was a mistake, because its actions were limited geographically and economically.
He also pointed out that another problem that the bank has faced has been localism and certain families’ consequent participation and interference in the Board of Directors and in its administration. In this way, political and personal interests have affected the proper decision-making.
In addition, the legislator said that in recent years, indicators such as asset profitability and profit on administrative expenditure have considerably deteriorated.