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Costa Rica's state banks are leaders in profits

Wednesday, October 31, 2012

Public-sector banks in Costa Rica have earned more profits than their private-sector counterparts, according to data for the first nine months of the year.

An increase in interest rates in colons, Costa Rica's currency, is part of the reason why they have done so well, La República newspaper said.

The result would be less private investment, which would affect the economy and the creation of jobs, a situation which caused president Laura Chinchilla to question the role of public banks in the country's economy.

Full story (in Spanish)