BAC Credomatic Costa Rica

Overview

BAC Credomatic Costa Rica is Costa Rican commercial bank + BAC Credomatic Central American banking group + Grupo Aval Colombian parent BVC: AVAL controlling post-Mar 2023 acquisition completion + Central America's largest banking group + one of Costa Rica's largest commercial banks [1, cr-cro].

History

1952 — Banco de América Central BAC founded in Nicaragua by Calley Dagnall family.

1971 — Credomatic credit card processor founded in Central America.

2010 — Grupo Aval Colombian conglomerate acquires controlling stake in BAC Credomatic from GE Capital for ~$1.92B.

2013 — BAC Credomatic mobile banking app launch.

Mar 2023 — Grupo Aval completes Aval Acciones y Valores reorganisation + BAC Credomatic controlling stake transfer.

Ownership & operator

Operating entity: BAC Credomatic Costa Rica (Costa Rican commercial bank; BAC Credomatic Central American banking group; Grupo Aval Colombian parent).

Major shareholders: Grupo Aval (BVC: AVAL + NYSE: AVAL; Colombian financial conglomerate; Luis Carlos Sarmiento Angulo controlling) ~75%+ controlling + Central American + Colombian + foreign investors.

Regulators: SUGEF Costa Rica + BCCR.

Technical integration

BAC Credomatic Costa Rica mobile app (iOS + Android) + baccredomatic.com online + BAC Credomatic Costa Rica branch network across Costa Rica + BAC Credomatic Visa + Mastercard + Credomatic cards; CR IBAN + SINPE (Sistema Nacional de Pagos Electrónicos Costa Rican payment system) + SINPE Móvil (Costa Rican P2P mobile payments) + SINPE TP (Costa Rican retail QR payments).

Implementations & partners

Grupo Aval parent + Central American banking siblings: [[bac-credomatic]] (BAC Credomatic Central America's largest banking group; Grupo Aval Colombian parent; Costa Rica + Nicaragua + El Salvador + Honduras + Guatemala + Panama operations) + [[banco-bogota]] (Banco de Bogotá; Grupo Aval parent; Colombian commercial bank) + [[banco-popular-co]] (Banco Popular Colombia; Grupo Aval parent) + [[banco-villas]] (Banco AV Villas; Grupo Aval parent).

Major Costa Rican + Central American banking + payments competitors: [[banco-nacional-cr]] (Banco Nacional de Costa Rica; Costa Rican federal government fully owned; Costa Rica's largest commercial bank by assets) + [[banco-popular-cr]] (Banco Popular y de Desarrollo Comunal Costa Rica; Costa Rican federal commercial bank for cooperative + community development) + [[banco-cathay]] (Banco Cathay Costa Rica; Costa Rican commercial bank) + [[banco-internacional-cr]] (Banco Internacional de Costa Rica BICSA; Costa Rican commercial bank; Costa Rican state-owned via Banco Nacional + Banco de Costa Rica JV) + [[davivienda]] (Davivienda Costa Rica; Colombian Davivienda Costa Rican subsidiary post-2012 HSBC Costa Rica acquisition) + [[scotiabank-cr]] (Scotiabank Costa Rica; Scotiabank Canadian parent subsidiary) + [[promerica-cr]] (Banco Promérica Costa Rica; Promerica Financial Corporation parent).

Regulators: SUGEF Costa Rica + BCCR.

Status

Active, Costa Rican commercial bank + BAC Credomatic Central American banking group + Grupo Aval Colombian parent BVC:AVAL controlling post-Mar 2023 acquisition completion + Central America's largest banking group + one of Costa Rica's largest commercial banks [1, 2].

Sources

• 1 BAC Costa Rica — official
• 2 BAC Credomatic — Wikipedia
• cr-cro In-corpus: reports/countries/CR-costa-rica.md

Source

Biography extracted from bac-cr.md. See matrix.md for standards-support matrix if present.