Headquarters: San Jose, Costa Rica
Providing temporary payment relief to businesses and individual clients through the implementation of payment moratoriums and facilitating government support to individuals.
SMMEs, Large Business, Start-ups, Individuals
Disseminated Ministry of Health information on health and sanitation measures in order to reduce the spread of disease. Providing staff with online seminars regarding mental health and dealing with the personal impacts of the pandemic.
The bank has waived all internet and app banking fees and reduced in-person banking fees. Thorough health and safety protocols for employees and customers. Advice on how to reduce chance of transmitting the illness. Established a 'Crisis committee' to update, manage and coordinate actions regarding COVID-19 regulations and requirements. Changes to retail services including increased access to remote banking services, reduced hours for retail locations, and supplied technology to facilitate WFH for employees.
Collaboration public banks
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Banco Popular is participating alongside other public universal banks in Costa Rica in contributing to, and administering, a government-led, 900 billion colones National Development Fund program. The programme will support the re-opening of businesses by providing working capital. Credit specifications will be determined by each bank, but the programme aims to ease credit record requirements, reduce interest rates, and provide sector-specific guarantees to the public banks, with a 2-year grace period on repayments, although a 'symbolic' payment is required every 180 days. State guarantees are offered through the Costa Rican Banca Para el Desarrollo, which received an injection of 200 billion colones from the National Development Fund.