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{{about|the bank in Costa Rica|the global HSBC Group|HSBC|other individual entities of the group|HSBC Bank}} {{about|the bank in Costa Rica|the global HSBC Group|HSBC|other individual entities of the group|HSBC Bank}}

{{Infobox company {{Infobox company
| name = Banco HSBC (Costa Rica), S.A. | name = Banco HSBC (Costa Rica), S.A.

Latest revision as of 10:12, 31 December 2024

This article is about the bank in Costa Rica. For the global HSBC Group, see HSBC. For other individual entities of the group, see HSBC Bank.
Banco HSBC (Costa Rica), S.A.
HSBC Holdings PLC logo
Company typeSubsidiary of HSBC Holdings plc
IndustryFinance and Insurance
Founded2006
Defunct2012
HeadquartersSan José, Costa Rica
Key peopleFrancisco F. Coccaro, CEO
ProductsFinancial services

Banco HSBC (Costa Rica), S.A. was a subsidiary of HSBC Holdings plc headquartered in San José, Costa Rica. The bank provided personal banking and corporate banking services to Costa Rica. In 2012 Banco Davivienda acquired HSBC Costa Rica and renamed it as Banco Davivienda Costa Rica.

History

In November 2006, HSBC acquired Grupo Banistmo, the leading banking group in Central America and gave HSBC access to new markets, with offices in Colombia, Costa Rica, El Salvador, Honduras, Nicaragua and Panama.

Following the acquisition, HSBC rebranded Banistmo's operations in Costa Rica under the HSBC name. By 2011, HSBC Costa Rica served retail, commercial, and corporate banking clients through 29 branches, with total assets amounting to approximately US$1.4 billion as of September 30, 2011.

In January 2012, as part of a strategic plan to streamline its operations and focus on core markets, HSBC announced the sale of its businesses in Costa Rica, El Salvador, and Honduras to Banco Davivienda for US$801 million. The sale in Costa Rica was worth US$300 million.

In December 2012, the transaction was completed. Banco Davivienda took over the HSBC Costa Rica operations and rebranded them to Banco Davivienda (Costa Rica) S.A., Davivienda Puesto de Bolsa (Costa Rica) S.A and Davivienda Sociedad Agencia de Seguros (Costa Rica) S.A.

See also

References

  1. ^ "HSBC agrees the sale of its business in Costa Rica, El Salvador and Honduras" (PDF). HSBC. Retrieved 29 December 2024.
  2. ^ "Banco Davivienda entra a Costa Rica con la compra del banco HSBC". Revista E&N. Retrieved 29 December 2024.
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