In the latest edition of its semiannual report on Latin America and the Caribbean, “Renewing with Growth”, The World Bank investigates whether technological disruption could boost productivity. The report examines two disruptions: the pandemic-induced escalation of digitization and potential for more competition in the electricity sector.
The Central American nation of Costa Rica is regarded as economically sound, although rising government debt has raised alarm bells with credit-ratings agencies. Costa Rica’s financial industry is flourishing, and Banco BCT is at the centre of the action. With strong presence in Costa Rica and neighbouring Panama, BCT offers top-notch banking services. In our interview, Mr. Alvaro Saborío, CEO of Grupo Financiero BCT, provided insight into this financial powerhouse’s human-centred strategy.
Costa Rica has been one of Central America’s most prosperous and stable countries, providing many opportunities for its financial sector to flourish—despite the government’s recent liquidity crisis. BAC Credomatic Costa Rica, with its emphasis on placing the customer in the centre, has made the best use of the advantages its home country offers. Country Manager Federico Odio González gave us a run-down on BAC’s commitment to streamlining while improving its operations.
Costa Rica is renowned for its low poverty rate, and its successful private banks such as BAC San José have a gone a long way to promote prosperity by providing exceptional customer-responsive retail and commercial products and services. The bank’s diverse customer base is guaranteed to thrive alongside BAC in any economic climate.
Over the past few decades, the Costa Rican economy has shown significant strength and development, bolstered and underpinned by a phase of economic growth and expansion starting in the 1980s that drove forward export-led growth, increased foreign investment and widened trade liberalization.
Simon Hughes of International Banker Interviews Mario Hernández, COO of LAFISE Bank Costa Rica, discussing banking in Costa Rica, the innovative Monibyte platform and the history and future of Banco Lafise.