Bancrédito will come out of financial intermediation on December 31st, and the outlook is still obscure as to what will happen to the entity.
The bill to transform it into a development bank is stuck in the Legislative Assembly and it seems difficult to move forward in a week and a half, since the legislators are going to Christmas and New Year’s Eve break on December 21st.
So, what will happen to the institution as of January 1st? The government assures that Bancrédito will maintain some activities that are not regulated by the SUGEF and that the mandate from the Governing Council is to maintain financial equilibrium.
According to Sergio Alfaro, Minister of the Presidency, the bank has almost completed the liquidation of liabilities, leaving only the debt owed to the Ministry of Finance.