Home › Forums › Costa Rica Living Forum › BANEX takeover by Chinese bank
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June 18, 2007 at 12:00 am #184596maravillaMember
Has this actually happened? I was told it would in April or May. Does this mean we get new debit/charge cards? Did the name change too?
June 18, 2007 at 12:58 pm #184597AndrewKeymasterThis would be new news to me, can you please show us your source Maravilla
I am EXTREMELY concerned about the possible flood of Chinese investments in Costa Rica.
As a friend of mine Roy – who lives and works in China- recently stated:
“China has the worst record in the world for plant safety, pollution, negligence, abuse of the environment, etc. I have seen many Chinese chemical and petrochemical plants, I would refuse to live down wind of any of them let alone go inside.
I cannot think of a worse project for a beautiful country like Costa Rica.”
Scott Oliver – Founder
WeLoveCostaRica.comJune 18, 2007 at 3:11 pm #184598CharlieMemberI believe the takeover is by HSBC , not sure if it happened yet .
June 18, 2007 at 3:23 pm #184599AndrewKeymasterHSBC is the 2nd or 3rd largest bank in the world, I think you’ll find it is a British bank, it’s certainly NOT Chinese
According to: http://www.banking.hsbc.com.my/my/aboutus/heri1865.htm
“The Group owes its origins to the business communities operating on the China coast in the 1860s. At that time, the local financial market was in its infancy. In the absence of professional banks, the European trading houses or ‘hongs’, which made substantial profits trading in tea, opium and silk carried by the famous clipper ships handled most trading transactions.
To address the need of the local businessmen for larger and more sophisticated facilities, the bank opened for business in Hong Kong on 3 March 1865 and a month later in Shanghai, on 3 April 1865 as The Hongkong and Shanghai Banking Corporation Limited. This is the founding member of the modern group from which the HSBC Group’s name is derived. Soon after its formation in Hong Kong and Shanghai, the bank rapidly established a network of agents and branches around the world.”
Scott Oliver – Founder
WeLoveCostaRica.comJune 18, 2007 at 7:50 pm #184600AlvaroMemberBanex was recently acquired by HSBC and Banco Cuscatlan and Banco Uno by CITIBANK.
June 18, 2007 at 8:04 pm #184601maravillaMemberAh, so it’s a British bank operating in Hong Kong. My source was the Gerente at Banco Banex in San Ramon. All he told me in March was that when I got back Banex would be bought out by a Hong Kong bank and I assumed that it was chinese. Whew! I’m starting to get sick of this chinese takeover of everything.
June 18, 2007 at 9:32 pm #184602PegMemberMaravilla
China is taking over everything. The U.S. annual trade deficit with China is more than $200 Billion, (that’s with a “B”) . China makes parts for Boeing 757s, and the two largest American auto parts makers have factories in China. That doesn’t begin to cover other areas that they dominate. I hope they are not weaseling their way into CR.
June 18, 2007 at 9:44 pm #184603maravillaMemberGarlic is their culinary contribution to Costa Rica. I wonder what other food products worm their way into the markets down there. God only knows what kind of pesticides/fertilizers they use. LOL It’s kind of scary to think about them anything for a Boeing 757. My husband always complains about Chinese made tool products — they break so easily because of inferior steel, etc. Hope they do better on those airplane parts!
June 18, 2007 at 9:45 pm #184604AndrewKeymasterThe Chinese ARE coming to Costa Rica, they have announced a new resort will be built in Guanacaste, Playa Manzanillo I believe.
And the Chinese will probably start buying properties around there first … There’s only about 1,321,851,888 of them so there’s nothing to worry about …. If 1% of them have money to invest, that’s 12,218,518 people
Scott Oliver – Founder
WeLoveCostaRica.comJune 18, 2007 at 11:59 pm #184605maravillaMemberAcckkkkk! I’m moving to Argentina if 12 mill of THEM move into Costa Rica!
June 19, 2007 at 1:57 pm #184606rf2crParticipantBy the time you make that decision they will all ready own Argentina!
June 19, 2007 at 9:01 pm #184607maravillaMemberThere’s always Paraguay! Sheesh. They’re like rats; they’re everywhere.
June 20, 2007 at 12:17 am #184608rf2crParticipantLove Paraguay as my second home but unless things have changed a great deal, don’t think even they will be too bothered with the Chaco Paraguayo – you will be safe there!
June 20, 2007 at 3:53 pm #184609annelisepedMemberThis is for our moderator.
Are we begining to sound a little discriminatory? racist? or just ethnocentric?
June 20, 2007 at 3:57 pm #184610AndrewKeymasterWe do have a couple of additional Moderators but I personally would prefer to use the term ‘environmentally concerned’ and ‘ethnocentric.’
Scott Oliver – Founder
WeLoveCostaRica.com -
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