Is Scotiabank de Costa Rica S.A. on the verge of collapse?

Q OPINION (Letter to the editor by Peter White) On December 30 2016 Costa Rica Star reported that in July of 2016: “Banco Latinoamericano de Comercio Exterior, S.A. (“Bladex” or “the Bank”; NYSE: BLX) announced the closing of a US$125 million, dual tranche (2 years and 3 years), senior unsecured amortizing term loan facility in favor of Scotiabank de Costa Rica S.A. ”
The funds were necessary to cover operating expenses of the Scotiabank subsidiary in Costa Rica.
The local bank has enjoyed an amount of success due to the name recognition resulting from Scotiabank of Canada’s expansion efforts in 55 countries worldwide.
Unfortunately Scotiabank’s recent expansion into the area of unsecured credit (credit cards and auto loans) and subsidiaries in high risk markets, like Costa Rica, has

... continue reading article at QCOSTARICA.com Click here to go to the source article.

Leave a Reply