UBS Financial Services Inc. of Puerto Rico is facing a possible lawsuit by the U.S. Securities and Exchange Commission, which recently issued a Wells notice regarding the sale of mutual funds that bought $1.5 billion in bonds that the Swiss-based bank had underwritten on the island, Bloomberg reported Friday.
Oriental Financial Group on Thursday released its fourth quarter report, showing strong performance in core banking operations, just several months after settling into its expanded footprint resulting from its acquisition of the former EuroBank.
Popular Inc. continues taking steps toward improving its balance sheet with an announcement Monday that it has signed a non-binding letter of intent to sell approximately $500 million of construction and commercial real estate loans. Some 75 percent of the loans, which will be sold at book value, are non-performing.
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