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Costa Rica’s state-owned banks were big winners as dollar slipped against the colón

Monday, February 21, 2011

Costa Rica’s state-owned banks reported higher profits than those of the private-sector ones last year.

The main reason lay in the strength of the state-owned banks’ portfolios in the Costa Rican currency, the colón, which strengthened substantially against the US dollar.

The big winner was Banco Popular, which absorbed the portfolio of the former Coopemex cooperative.

Original source (in Spanish): La República