Entrepreneurs grouped in the Costa Rican Union of Private Sector Chambers and Associations (UCCAEP) expressed their complete opposition to the Banking System for Development (SBD) being absorbed by Bancrédito.
They believe an absorption should be used to correct the serious problems that the state bank is going through.
We would not do well if we move something that works efficiently into something that has not worked that way,”
said Franco Arturo Pacheco, president of UCCAEP.
The growth of the development banking portfolio was 51 billion colones between 2015 and 2016; whereas in the same period Bancrédito grew by 16 billion colones, barely a third.
It would be unfortunate that the problems of Bancrédito spoil the good work done so far,”
For the business sector, the SBD must ally with organizations that help it grow, not entities that have shown little success in the business turnarounds in which it has participated.
The Development Banking System is composed of 50 financial operators that make up a network of more than 800 points, distributed throughout the country.