Oriental Financial Group Inc. announced Wednesday plans for the integration of Banco Bilbao Vizcaya Argentaria Puerto Rico, which Oriental acquired in late December, and the combined companies’ branding and business strategy.
Fitch Ratings expects Puerto Rican banks to face continuing operating challenges in 2013, despite recent efforts by those institutions to build capital and de-risk their balance sheets, the agency said in a statement issued Wednesday.
Banco Popular recently awarded $14 million in financing to float the future “Salud Eterna” project in Humacao, a complex that will house several medical offices as well as an assisted living facility for the elderly.