Banco Internacional de Costa Rica

What Banco Internacional de Costa Rica does

Banco Internacional de Costa Rica, S.A. (BICSA) is a privately held international bank established on September 20, 1976, headquartered in Panama City, Panama, and regulated by Panama's Superintendencia de Mercado de Valores. The bank is owned by Costa Rican state banks, with Banco Nacional de Costa Rica as the primary shareholder, and operates as a regional trade-finance specialist for Central America. Its physical footprint includes a headquarters and a branch in Panama, a customer service office in Costa Rica, and representative offices in El Salvador, Guatemala, Mexico, and Miami.

BICSA's product portfolio spans corporate credit (working capital, capital goods, regional multi-country lines), foreign trade financing (documentary credits, collections, FX, currency futures), deposit products (checking, savings, money market, fixed-term deposits in USD and EUR), Visa Infinite personal and corporate credit cards, and four wholly-owned subsidiaries (BICSA Factoring, BICSA Capital, BICSA Leasing, BICSA Fiduciaria). Its technology stack centers on SWIFT connectivity to 5,000+ institutions in 120+ countries and the SINPE Regional platform for 24/7 instant transfers with Banco Nacional de Costa Rica, complemented by an online banking platform, a mobile banking app with token-based 2FA, and extended-validation SSL certificates.

Revenue is generated through a mix of net interest income on lending, deposit-account fees, transaction-based trade-finance fees (e.g., 0.25% / US$50 minimum on import collections), credit-card interchange and interest, FX trading, and subsidiary service fees. Pricing is productized with published minimums (e.g., corporate checking US$3,000; fixed-term deposits US$10,000; BICSA Plus US$150,000). The go-to-market is relationship-led, with dedicated account managers across six countries plus digital self-serve channels for transactional execution. The bank also operates an Environmental and Social Management System (SIGAS, since 2020) that categorizes client operations by socio-environmental risk, and published a 2024 Sustainability Report.

Name

Banco Internacional de Costa Rica

Legal name

Banco Internacional de Costa Rica, S.A.

Website

https://www.bicsa.com/

Company type

Private

Founded year

1976

Operating status

Operating

Headcount range

251–500 employees

Short description

Banco Internacional de Costa Rica (BICSA) is a privately held, state-bank-owned international bank headquartered in Panama City, serving corporate and personal clients across Central America with trade finance, commercial credit, foreign exchange, and deposit products through branches and offices in six countries.

Ownership category

akta.pro rank

Product category

International Commercial Banking

NAICS

Commercial Banking (52211), Depository Credit Intermediation (5221), Credit Card Issuing (52221)

SIC

State Commercial Banks (6022), National Commercial Banks (6021)

akta.pro primary industry

Federations/Centrals & Cooperative Banking Networks (2nd-Tier Co-ops) (FSABAEAL)

akta.pro secondary industries

Credit Cards & Revolving Credit (FSABAAAC), Commercial & Corporate Card Schemes (FSAMAAAF)

Keywords

• International trade finance
• Corporate banking services
• Correspondent banking network
• Central american banking
• Documentary credit services

Headquarters

HQ city

Panama City

HQ country

Panama

HQ region

Latin America

Offices6 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others

Revenue model

1. Interest Income: Traditional banking interest income from lending activities including commercial loans, working capital financing, capital goods financing, and trade finance operations.
2. Deposit Account Fees: Fees from deposit accounts including checking accounts, savings accounts, money market accounts, and fixed-term deposits.
3. Credit Card Services: Revenue from credit card operations including Visa Infinite and Visa Infinite Business cards with associated fees and interest charges.
4. Trade Finance Services: Fees from documentary credits, collections, foreign currency operations, and foreign trade financing services conducted through SWIFT system.
5. Subsidiary Services: Revenue from subsidiaries including BICSA Factoring, BICSA Capital, BICSA Leasing, and BICSA Fiduciaria offering factoring, capital markets, leasing, and trust services.
6. International Transfers and Correspondent Banking: Fees from SWIFT transfers, wire transfers, and correspondent banking services with extensive network of correspondent banks globally.

Pricing tiers

Go-to-market motion2 records

Distribution channels7 records

Marketing channels6 records

Core offering

Banco Internacional de Costa Rica (BICSA) is an international bank providing corporate and personal banking products through branches, representative offices, and digital channels across Central America, Mexico and Miami. Its core offerings include commercial credit facilities (working capital, trade finance, capital goods, regional multi-country lines), documentary credits and collections, foreign exchange and SWIFT-enabled international transfers, deposits in multiple currencies, Visa Infinite and Visa Infinite Business credit cards, and factoring, capital markets, leasing, and fiduciary services delivered through four wholly-owned subsidiaries (BICSA Factoring, BICSA Capital, BICSA Leasing, BICSA Fiduciaria).

Product overview

Banco Internacional de Costa Rica (BICSA) operates as a multi-channel international bank offering a comprehensive portfolio of corporate and personal banking products. The core offering includes commercial credit facilities (working capital, trade financing, capital goods financing) and foreign trade services (documentary credits, collections, forex, currency futures). Deposit products span checking accounts, savings accounts, money market accounts, and fixed-term deposits in multiple currencies. The bank provides Visa Infinite credit cards for both personal and corporate segments. Digital banking channels include Online Banking and Mobile Banking apps. Four subsidiaries extend capabilities in factoring, capital markets, leasing, and fiduciary services. The bank integrates with SWIFT for international transfers and SINPE for domestic Costa Rica payments. An Environmental and Social Management System (SIGAS) supports ESG risk assessment for financed projects.

Differentiator

Problem solved

Functional benefit

Brands

• BICSA Factoring: Factoring services subsidiary of BICSA
• BICSA Capital
• BICSA Leasing
• BICSA Fiduciaria

Products and services

• Working Capital Financing Revolving lines of credit for corporate clients to cover cash flow and working capital needs, with flexible proposals aligned with business cycles.
• Foreign Trade Financing Pre-shipment and post-shipment financing solutions for exporters, importers and producers of goods and services engaged in international trade.
• Capital Goods Financing Medium-term financing for fixed assets directly related to a corporate client's ordinary course of business.
• Regional Working Capital Financing Regional multi-country credit line enabling corporate clients to draw working capital, inventory and accounts receivable financing from any country where they operate.
• Documentary Credit Letters of Credit facilitating international trade with bank guarantee, supporting On Demand, On Terms, and Stand-By modes for importers and exporters.
• Collections International documentary collection service presenting financial or commercial documents for acceptance or payment, in Import, Export, and Clean modalities.
• Forex (Foreign Exchange) Foreign currency purchase and sale via BICSA's trading desk with spot and term currencies, current account management, international transfers and foreign currency term deposits.
• Foreign Currency Futures Purchase Free Market currency exchange desk offering consulting, cash checks, foreign currency transactions, bank drafts and fund transfers.
• Deposit Guarantee Loan (Loans Back-to-Back) Loan using a client's time deposit as collateral without early payoff, providing liquidity while preserving the deposit's investment benefits.
• Visa Infinite Business Credit Card Corporate credit card with worldwide acceptance offering expense management, corporate liability insurance, and urgent card replacement services.
• Visa Infinite Personal Credit Card Premium personal Visa Infinite credit card with worldwide acceptance, travel benefits, purchase protection, extended warranty, concierge services, and a loyalty program (BICSA Puntos — 1 point per dollar spent). Requires monthly income greater than USD 2,500.
• Fund Transfers (SWIFT) International fund transfer service via the SWIFT network, connecting BICSA clients to more than 5,000 financial institutions in 120+ countries for secure cross-border payments.
• SINPE Regional Transfers SINPE Regional service enabling 24/7 fund transfers between BICSA accounts and Banco Nacional de Costa Rica accounts with immediate fund accreditation.
• Corporate Checking Accounts Demand deposit corporate checking accounts for managing resources and payments via check or transfer, with 24/7 Online Banking access and certified/official checks. Minimum opening US$3,000.
• Personal Checking Accounts Personal demand checking accounts with Clave debit card access and digital banking for managing funds and making payments. Minimum opening US$2,000.
• Corporate Money Market Accounts Corporate tiered-rate interest-bearing checking account for clients with high balances, paying monthly interest and including certified and official checks. Minimum opening US$10,000.
• Personal Money Market Accounts Personal checkbook account for clients who do not need frequent withdrawals, paying interest on daily average balances monthly with competitive rates. Minimum opening US$3,000.
• Regular Fixed-Term Deposits Fixed-term corporate and personal deposit product with terms from 30 days to 5 years and reference rates varying by tenor (e.g., 30 days 3.50%, 5 years 5.00% at the cited rate). Minimum opening US$10,000.
• BICSA Plus Deposits High-balance preferential-rate term deposit allowing increases, reductions or cancellation, automatically renewing every 30 days with interest credited monthly. Minimum opening US$150,000.
• Corporate At Call Deposits Liquid corporate deposit product with immediate fund availability and monthly interest payments. Minimum opening US$100,000.
• Corporate Preferential Savings Accounts Corporate savings account offering 24/7 Online Banking access, certified checks and access to BICSA's correspondent network for transfers.
• Personal Preferential Savings Accounts Personal demand savings account offering attractive returns and flexibility, with a minimum opening of US$250.
• Corporate Foreign Currency Checking Accounts (EUR) Non-interest-bearing corporate demand deposit account in Euros for payments to suppliers and business-related transactions, with EUR-denominated charges. Minimum opening EUR 3,000.
• Personal Foreign Currency Checking Accounts (EUR) Personal checking account in foreign currency (Euros) offering access to BICSA's correspondent network for transfers and payment orders and mitigating exchange-rate risk. Minimum opening EUR 1,500.
• Personal Deposits in Foreign Currency (EUR) Time deposits in foreign currency (Euros) at competitive rates providing personal currency diversification. Minimum opening US$50,000.
• Corporate Term Deposits in Foreign Currency (EUR) Corporate term deposits in Euros with terms from 1 to 12 months and interest paid at maturity. Minimum opening EUR 100,000 equivalent. Collateral loans not allowed.
• Online Banking Secure web-based Online Banking platform for BICSA clients, providing account access, SINPE Regional transfers, IBAN-enabled accounts, beneficiary management, and credit card point redemption.
• Mobile Banking App BICSA Mobile Banking application available on iOS and Android, enabling secure account access, loan information and transactional capabilities on mobile devices.
• BICSA Factoring Wholly-owned subsidiary offering factoring services, providing accounts receivable financing and cash flow optimization for corporate clients.
• BICSA Capital Wholly-owned subsidiary offering capital markets and investment services, including specialized financial and investment solutions.
• BICSA Leasing Wholly-owned subsidiary providing financial leasing solutions for equipment and asset financing, primarily operating in Costa Rica.
• BICSA Fiduciaria Wholly-owned subsidiary providing fiduciary and trust management services.

Quantifiable outcome

• SINPE Regional enables 24/7 fund transfers between BICSA and Banco Nacional de Costa Rica with immediate fund accreditation
• +1 more outcomes

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature4 records

Partnerships

Ten partnerships are on record, tiered core.

• UNICREDIT BANKcoreTechnology or IntegrationCorrespondent bank relationship for EUR transactions. Located in Milan, Italy. SWIFT code: UNCRITMM. Enables BICSA clients to execute international transfers and foreign exchange operations in Euros.
• SUMITOMO MITSUI BANKcoreTechnology or IntegrationCorrespondent bank for JPY transactions. Located in Tokyo, Japan. SWIFT code: SMBCJPJT. Supports BICSA's international banking operations with Asian market coverage.
• WELLS FARGOcoreTechnology or IntegrationCorrespondent bank for USD transactions in New York. SWIFT code: PNBPUS33NNYC. Primary correspondent for US dollar transfers and settlements.
• BANK OF AMERICAcoreTechnology or IntegrationCorrespondent bank for USD transactions in New York. SWIFT code: BOFAUS3M. Secondary correspondent for US dollar operations and settlements.
• CITIBANK N.A.coreTechnology or IntegrationCorrespondent bank for USD transactions in New York. SWIFT code: CITIUS33. Additional correspondent for US dollar transfers and banking services.
• BANKINTERcoreTechnology or IntegrationCorrespondent bank for EUR transactions in Madrid, Spain. SWIFT code: BKBKESMM. Supports BICSA's European market operations and Euro-denominated transactions.
• Banco Nacional de Costa RicacoreStrategic or Co-development PartnerPartner bank for SINPE Regional system enabling instant fund transfers between accounts at BICSA and Banco Nacional de Costa Rica. SINPE system operates 24/7 with immediate fund accreditation.
• MicrosoftcoreTechnology or IntegrationMicrosoft Office 365 services used for encrypted email communications, allowing secure sending and receiving of notifications, account statements, and transaction notices.
• VisacoreChannel Partner/ Reseller/ DistributorVisa partnership for issuing Visa Infinite and Visa Infinite Business credit cards with comprehensive benefits including concierge services, travel insurance, extended warranty, and purchase protection.
• SWIFTcoreTechnology or IntegrationSWIFT network enables BICSA's international transfer services, connecting to more than 5,000 financial institutions in more than 120 countries for secure electronic communications and fund transfers.

Scale indicators4 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Bladex (Banco Latinoamericano de Comercio Exterior): Panama-based bank specializing in trade finance and correspondent banking across Latin America. Highly comparable to BICSA in business model focus on foreign trade finance, documentary credits, and short-term commercial credit.
• BAC International Bank: Panama-headquartered regional bank operating across Central America with corporate banking, trade finance, and credit card services. Directly overlaps BICSA's footprint and target segments across Panama, Costa Rica, El Salvador, Guatemala, and Nicaragua.
• Banistmo: Panama-based commercial bank (subsidiary of Bancolombia) serving corporate and personal banking with international trade and correspondent banking focus across Latin America. Direct competitor to BICSA for Panamanian-domiciled corporate trade finance clients.
• Grupo LAFISE / Banco LAFISE BANCENTRO: Nicaragua-anchored Central American banking group with presence across the region offering corporate, trade, and personal banking. Comparable multi-country Central American commercial banking model.
• Banco Industrial: Guatemala-based leading commercial bank with corporate banking, trade finance, and regional presence across Central America. Comparable mid-tier regional commercial bank competing for similar Central American corporate clients.
• Banco Promerica: Central American regional banking group operating across multiple countries with corporate and trade finance offerings. Comparable multi-country commercial banking model targeting similar Central American corporate segments.
• Banco Nacional de Costa Rica: Primary state-bank shareholder of BICSA and a comparable state-owned commercial bank with full corporate and personal banking services. Comparable model as state-owned commercial bank and direct partner via SINPE Regional system.
• Banco de Costa Rica: State-owned Costa Rican commercial bank, also a BICSA shareholder, with full corporate banking, trade finance, and personal banking products. Comparable state-bank model and direct overlap in Costa Rican market.

Broad incumbents

• HSBC Bank Panama: Subsidiary of HSBC Holdings operating in Panama with broad international corporate, trade finance, and correspondent banking services. Larger incumbent competing with BICSA for cross-border corporate and trade finance volumes.
• Citibank Panama: Panama subsidiary of Citigroup offering corporate banking, trade finance, treasury services, and credit cards. Global-scale incumbent offering overlapping capabilities with BICSA in Panama-domiciled corporate and correspondent banking.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/c/BICSAySubsidiarias
• LinkedInlinkedin.com/company/bicsa-panama

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Banco Internacional de Costa Rica