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Banco de Costa Rica (BCR)

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Banco de Costa Rica (BCR)

Mission statement:

To improve the life quality of our customers.

Vision:

To be the first option in banking services in Costa Rica.

History:

Banco de Costa Rica was founded on April 20th, 1877 under the name of Banco de la Union. It kept this name until 1890, when it changed to the actual name. It was born with the purpose of being a new banking option among the existing ones, and it had, as initial functions, lending money, carrying transactional accounts, receiving deposits and making collections, among others. Seven years after its foundation, Banco de Costa Rica became the only money issuer and the first national revenue administrator thanks to a contract called Soto-Ortuño, which was valid until 1896.

Other economic events happened after the years until 1928, when BCR decentralized its services with the creation of the first branches in Limon and Puntarenas.

In 1948, the Junta Fundadora de la Segunda Republica (Second Republic Foundation Board) decreed the nationalization of all banks, so Banco de Costa Rica was integrated to the national banking system. It is an autonomous institution, according to Article 189 of the Politic Constitution of the Costa Rican Republic, from 1949.

During the last years, the Bank has worried for modernizing and innovating its services and customer attention, looking for more agile and convenient services by using and applying its modern technology.

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