At the close of March 2025, Costa Rica's lending market continues to show solid growth across both the commercial and consumer segments. According to the report "Competition in Commercial and Consumer Lending in Costa Rica," which draws on official data from SUGESE and financial statements from participating institutions, the total loan portfolio across all types of financing reached USD 54.87 billion. This represents a quarterly increase of 3.4% and an impressive year-on-year expansion of 12.8%, highlighting the continued dynamism of the country's credit market.
Breaking down the portfolio by type of financing, consumer loans remain the largest category, with an outstanding balance equivalent to 7.985 billion Colones. This is followed by financing for financial activities (6.054 billion), services (5.339 billion), commerce (2.142 billion), construction (1.096 billion), industry (919 billion), and energy (805 billion). Other miscellaneous loans account for an additional 2.052 billion, bringing the total portfolio across all segments to 26.391 billion Colones.
In terms of market share rankings, Banco Nacional stands as the leading competitor in the overall loan portfolio, holding 20.1% of the total balance. It is followed by Banco BAC San José with 15.2%, Banco de Costa Rica at 13.7%, Banco Popular at 12.8%, and Scotiabank with 5.3%. Together, these five institutions account for 67.1% of the market, underscoring the strong concentration of lending among the country’s largest banks.
When focusing specifically on consumer lending, Banco Popular emerges as the top player with a 19.2% market share, followed closely by Banco BAC San José at 17.9%, Caja de Ande at 12.4%, Banco Nacional at 10.8%, and Coopeservidores (Coopenae) with 6.1%. Collectively, these five entities command 66.4% of the consumer loan segment, reaffirming their dominance in household financing.
A similar pattern of leadership is observed in lending for financial, insurance, and real estate activities. Banco de Costa Rica leads this category with a 21.0% share, trailed by Banco Nacional (19.3%), Banco Popular (10.9%), Banco BAC San José (9.2%), and Grupo Mutual (5.6%). Their combined market share of 66.0% reflects a tight competitive landscape within these specialized financing sectors.
The competition intensifies further when analyzing credit for commercial activities. Banco BAC San José takes the lead with a 20.8% share, closely followed by Banco Nacional (20.1%), Banco de Costa Rica (14.0%), Banco Popular (9.3%), and Banco Davivienda (9.1%). The accumulated market share of these top five lenders stands at 73.3%, indicating even greater concentration in the business lending space.
However, the report also highlights that leadership positions vary significantly when examining the more than 20 distinct credit categories analyzed. Market shares shift considerably depending on the type of loan under review, reflecting the diverse strategies and client focus of the different financial institutions operating in Costa Rica’s lending sector.