Consumer and Commercial Loans in Costa Rica
As of September 2023, Costa Rica's commercial and consumer loan portfolio surged to a staggering 25.28 trillion Colones, marking a noteworthy 1.2% nominal growth compared to the previous quarter.
Breaking down the figures by loan type reveals a nuanced picture of the financial sector. Consumer loans experienced a robust 2.4% nominal growth in the quarter, while real estate financing inched up by 1.1%. Interestingly, commercial loans remained relatively stable, with a marginal change. The standout performers, however, were loans directed towards the gastronomic and tourism sectors, which saw an impressive 2.7% advancement.
Costa Rica's credit sector is characterized by three dominant loan categories, collectively commanding the lion's share of the market. Consumer loans make up 29% of the total system at the end of the third quarter, closely followed by real estate loans at 28%, and service sector financings, representing 15% of the national total. The remaining loan volume is dispersed across 12 other financing types, with notable mentions including commercial loans, industrial sector credits, and lines of credit for telecommunications and energy.
It's crucial to note that the presented values represent averages across 45 surveyed banking entities, financial institutions, and cooperatives. The specific loan portfolio composition varies significantly among these entities, influenced by individual business strategies.
In terms of market share growth, the quarterly rankings highlight BAC as the frontrunner, securing a substantial 0.19-point increase. DAVIVIENDA follows closely with a 0.12-point growth, while COOPEALIANZA, CAJA DE AHORRO Y PRESTAMOS DE LA ANDE, and COOPENAE each contribute to the competitive landscape with 0.05, 0.04, and 0.02-point advancements, respectively.
As of September 2023, the BANCO NACIONAL DE COSTA RICA maintains its leadership position, commanding nearly 20% of the total system. Notably, BAC claims a significant 13.9%, while the BANCO DE COSTA RICA and BANCO POPULAR each hold noteworthy market shares of 12.8% and 11.6%, respectively. Collectively, these four leading entities exert substantial influence, representing close to 60% of Costa Rica's entire credit market.
The third quarter of 2023 reflects a dynamic period in Costa Rica's lending landscape, marked by notable growth in specific loan segments and shifts in market shares among key players.
As of September 2023, the BANCO NACIONAL DE COSTA RICA maintains its leadership position, commanding nearly 20% of the total system. Notably, BAC claims a significant 13.9%, while the BANCO DE COSTA RICA and BANCO POPULAR each hold noteworthy market shares of 12.8% and 11.6%, respectively. Collectively, these four leading entities exert substantial influence, representing close to 60% of Costa Rica's entire credit market.
The third quarter of 2023 reflects a dynamic period in Costa Rica's lending landscape, marked by notable growth in specific loan segments and shifts in market shares among key players.
