The Costa Rica News (TCRN) – Interest rates paid on savings accounts by private banks during the last week was the highest of the year: 7.36%.

This average weekly deposit from this sector accounts for 18% of the change of the basic passive rate (TBP) which went from 7.02% to 7.36%.

Thus, the calculation of this indicator recorded its highest level since March 2013, when displaying a downward trend compared with October 2012 when it reached 11%, according to economists values.

This week, this economic indicator which governs loan installments payable in colones, stood at 7.05%, the highest level of the year. The other factors that make up the calculation of the rate showed  only small variation.

The group Public Banks went from paying an average of 6.81% to 6.82% and Credit Unions went from 7.70% to 7.76%.

According to the Superintendent of Financial Institutions (Sugef), in May private banks maintained a positive growth rate for their portfolios in colones, observed in real terms, while loans in colones between public banks lost strength from March.

The Costa Rica News (TCRN)

San Jose, Costa Rica