Coopenae and CoopeAnde approve strategic merger

The delegate assemblies of Costa Rican savings and credit cooperatives Coopenae and CoopeAnde have approved moving forward with a strategic integration. The merger aims to increase competitiveness and scale within the Costa Rican financial system in response to technological changes and regulatory demands.

If the integration is finalized, the resulting entity will operate under the Coopenae brand. The combined organization would manage approximately ₡1.6 trillion in assets and credit portfolios exceeding ₡1.1 trillion. The merger also involves a combined workforce of 1,559 people and 38 branches.

The process now requires regulatory authorization from the Superintendency of Financial Entities (SUGEF), the National Council for Supervision of the Financial System (Conassif), and the Commission for the Promotion of Competition (Coprocom). Both entities intend to complete these stages before the end of the year, and they will continue to operate normally during the transition period.