Popular Inc. reported Wednesday net income of $65.7 million for the second quarter ended June 30, 2012, compared with $48.4 million in net income during the prior trimester ended March 31.
Javier Hidalgo-Blázquez, President and CEO of Santander BanCorp and Santander Puerto Rico, resigned to his positions to assume new responsibilities within the bank’s parent company, Grupo Santander in Spain. However, bank officials did not say Thursday when his resignation will take effect.
Last week’s announcement by Oriental Financial Group of its intention to buy BBVA Puerto Rico’s operation for $500 million will “immediately transform” the former’s day-to-day operations into a more bank-like institution, something management has been striving for in recent years, an industry analyst said over the weekend.
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