Buoyed by a reduction in the island’s corporate tax rate and the sale of its equity stake in Consorcio de Tarjetas Dominicanas, S.A., Popular Inc. on Monday reported net income of $10.1 million for the first quarter ended March 31, an improvement over the net loss of $85.1 million during the same period the year before.
Doral Financial Corp., parent company of Doral Bank, released quarterly results Wednesday that reflected $3.3 million in net income for the period ended March 31, a marked improvement from the $36.1 million in net losses on record for the prior quarter ended Dec. 31, 2010.
The Federal Deposit Insurance Corporation is said to be preparing to sue at least 150 banking executives responsible for the financial debacle that has prompted the closing of nearly 350 banks in the United States since 2008, including three in Puerto Rico last year.
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