Costa Rica News – Costa Rica’s General Superintendent of Financial Institutions has requested that Banco Nacional de Costa Rica’s Board provide an explanation regarding self-designations in the entity’s subsidiaries.
The managers were asked about details used to make the appointments. Details requested include basics about academic training, career experience, and prior jobs within the bank itself.
The seven directors auto-named three Board members for subsidiaries.
Ana Isabel Solano, President of the bank, certifies that the decisions made were completely legal and have the backing of the Comptroller General of the Republic.
The Superintendent asks the bank’s Board to have policies that prevent conflicts of interest, although it is common practice for directors of banks to serve on boards of subsidiaries.
