At the end of the sixties, through the reform of the Organic Law of the National Banking System, the possibility began to be glimpsed that the commercial banks of the State could carry out activities outside the country.

Later, in 1972, the aforementioned law was reformed again, to allow State Banks to choose the organization that would be most convenient to carry out transactions abroad, under the condition that they act jointly.

From that moment on, a group of Costa Rican bankers undertook an arduous task, headed by the NATIONAL BANK, which, as the leading bank, presented in 1973 the request for authorization to open a branch in Panama, before the Central Bank of Costa Rica. Opportunely, representatives of the other state banks also intervened, becoming the shareholders of BICSA.

In October 1974, the Central Bank of Costa Rica issued the guidelines under which Costa Rican state banks could open a bank in the Republic of Panama, and on November 25, 1975, the Comptroller General of the Republic issued the respective authorization.

Since its foundation on September 20, 1976, BICSA has had the strong support of the state banks, a condition that is maintained to date, this being its main strength and means of development in the important banking activity it has developed in Costa Rica. and the foreigner.