San Juan Mercantile Bank & Trust gets license to operate in P.R.
March 13, 2019
The San Juan Mercantile Exchange Inc. (SJMX) and the San Juan Mercantile Bank & Trust International Corp. (SJMBT) today announced that SJMBT has received its license to operate from the Puerto Rico Office of the Commission of Financial Institutions. The license authorizes SJMBT to operate as an International Financial Entity (IFE) under OCIF’s banking regulations, […]
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Western Union, TuChequera.com open int’l payment options for businesses
March 12, 2019
Western Union, a provider of cross-border, cross-currency money movement, announced an alliance between Western Union Business Solutions and TuChequera.com that will allow entrepreneurs in Puerto Rico to conduct business in more than 130 currencies and send online business payments through a platform available 24/7. “Puerto Rico is the first region in Latin America and The […]
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Popular encourages entrepreneurs to join ‘StartUp Popular’ call
March 4, 2019
Part of the success of any business is to be able to count on capital that supports their growth and keeps the operations solid. In response to that Popular announced its 7th call for funding, business coaching and networking program, StartUp Popular. The application deadline is April 30, 2019. Since its inception, more than 85 […]
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So. Fla. resident convicted of $100M fraud scheme that toppled Westernbank
February 6, 2019
A Key Biscayne, Florida resident was found guilty by a federal jury for his role in a $100 million scheme to defraud Westernbank of Puerto Rico. The losses triggered a series of events leading to Westernbank’s insolvency and ultimate collapse in 2010. Jack Kachkar, 55, was convicted of eight counts of wire fraud affecting a […]
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First BanCorp. reports $201.6M in net income for ’18; $101.1M for 4Q18
January 30, 2019
First BanCorp., the bank holding company for FirstBank Puerto Rico, reported net income of $201.6 million, or $0.92 per diluted share, for the year ended Dec. 31, 2018, compared to $67 million, or $0.30 per diluted share, for the year ended Dec. 31, 2017. The financial institution also reported net income of $101.1 million, or […]
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UPR Humacao campus students take top ‘Financial Awareness Video Contest’ wins
January 29, 2019
The Puerto Rico Bankers Association (PRBA) and the Federal Reserve Bank of New York (FRBNY) recognized the creativity and talent of college students who participated in the most recent edition of the “Financial Awareness Video Contest.” For 10 years, said competition has been well known for motivating college students to develop creative audiovisual pieces about […]
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Popular Inc. reports whopping increases in net and adjusted income in ’18
January 24, 2019
Popular Inc. closed 2018 with significant year-over-year increases in its net and adjusted income, according to its quarterly earnings report. For the 12-month period ended Dec. 31, 2018, adjusted net income was $487 million, up 76 percent from the prior year’s adjusted net income of $276 million. Net income for 2018 totaled $618.2 million, a […]
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OFG Bancorp reports $23.1M in net income in 4Q18
January 23, 2019
OFG Bancorp reported net income of $23.1 million, or $0.45 per fully diluted share, compared to $19.6 million during the third quarter of 2018, or $0.42 per share and the same year-ago quarter, when it made $13.6 million or $0.30 per share. For the year ended Dec. 31, 2018, the financial institution reported net income […]
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Popular consolidates auto, leasing operations at Roosevelt Ave. building
January 15, 2019
As part of its strategy to offer “modern and innovative” facilities for its clients, Popular announced the consolidation of its auto and leasing services at the former Doral building on Roosevelt Ave., the financial institution announced. Effective Jan. 19, the Popular Auto customer service division formerly located at Popular’s Altamira location, and Reliable Auto, formerly […]
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Banco Popular lands leading ‘Bank of the Year Americas’ for 5th consecutive Year
December 7, 2018
The Banker named Banco Popular de Puerto Rico “Bank of the Year Puerto Rico,” acknowledging the bank’s continued expansion and customer base growth, racking up strong numbers in 2017.
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FirstBank, spokeswoman Puig award $10K in 3 ‘FirstOro’ tennis scholarships
December 3, 2018
The funding will allow the young tennis players to continue their training and develop into athletes who can win another gold medal for Puerto Rico, López-Lay said, referring to Puig's gold medal Olympic win.
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Financial conference focuses on compliance, risk management, good practices
November 20, 2018
The talks were geared toward strengthening Puerto Rico’s strategy in the global marketplace.
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UBS ordered to pay some $19M in losses related to UBS’s P.R. bond funds
October 31, 2018
UBS has been ordered to pay tens of millions of dollars in various arbitration claims to date, including awards of approximately $9 million, $15 million, $18 million, and now $19 million.
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First BanCorp. reports $36.3M in 3Q18 net income
October 26, 2018
The financial institution’s loan portfolio grew this quarter despite “meaningful organic reductions” in resolution of non-performing assets.
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Popular Inc. reports $140.6M in net income for 3Q18
October 25, 2018
Popular Inc. had a busy third quarter, with the closing of its acquisition of Wells Fargo’s auto finance business in Puerto Rico.
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