HSBC Bank Costa Rica

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.

Company type	Subsidiary of HSBC Holdings plc
Industry	Finance and Insurance
Founded	2006
Defunct	2012
Headquarters	San José, Costa Rica
Key people	Francisco F. Coccaro, CEO
Products	Financial 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

• List of banks in Costa Rica
• List of banks in the Americas