BAC Credomatic is the largest private bank in Costa Rica and the most profitable.
Founded in 1985, BAC Credomatic is part of the BAC Credomatic Group, the largest financial group in the region, which is owned by Grupo Aval, the leading financial conglomerate in Colombia. The bank serves more than 700,000 retail and corporate customers across Costa Rica, offering them a suite of financial and non-financial services. Innovation is at the core of BAC’s strategy, with the development of new technology platforms that facilitate customer transactions and increase accessibility and flexibility. BAC operates through a network of 24 full-service branches and more than 500 points of service across Costa Rica. In 2015, Latin Finance awarded BAC Credomatic the Bank of the Year Central America award and the Bank of the Year Costa Rica award.
BAC is in the process of developing a pilot that evaluates the most successful inputs provided to women entrepreneurs with the support of the Multilateral Investment Fund (MIF) of the Inter-American Development Bank (IDB). The project will allow BAC to better understand if women are satisfied with current products, what kind of adjustments may be needed, how successful the bank’s messaging is to women, and what is the effect of supporting women with a personalized approach that provides them with business skills and personal support. With the results of the pilot, BAC hopes to be able to develop a more comprehensive offering for women.
The banks also offers extensive financial and non-financial services to SMEs, including business development training, networking opportunities and a renowned SME award. These services may be tailored to women’s specific needs based on the results of the pilot.