OCIF: Puerto Rico banks could benefit from fiscal board
September 20, 2016
Puerto Rico’s banking sector, which has been weathering the island’s economic storm for the better part of the last decade, could benefit from the arrival of the Fiscal Control Board, and the trust it could instill on future investors, Financial Institutions Commissioner Rafael Blanco said.
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Moody’s: PR banks can handle 2 yrs of recession stress
September 9, 2016
Three of Puerto Rico’s main banks — Banco Santander Puerto Rico, Popular Inc. and FirstBank Puerto Rico — banks can absorb further asset quality stress resulting from Puerto Rico’s recession for at least two more years, Moody’s Investors Service said in a report released Thursday.
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Popular Community Bank adds branch, services in FL
August 26, 2016
Popular Community Bank, a subsidiary of Popular Inc. announced Thursday the opening of a new retail branch in Aventura, Florida, the first high-tech branch unveiled in the area, bank officials said.
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Bankers Assoc.: Task Force should review banking rules
August 24, 2016
The Puerto Rico Bankers Association will be submitting a set of recommendations to the Congressional Task Force on Economic Growth addressing key areas in federal banking regulations that could be eased to benefit the Commonwealth’s economy, Executive Director Zoimé Álvarez-Rubio confirmed Wednesday.
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First BanCorp reports $22M in 2Q16 net income
July 27, 2016
First BanCorp, the bank holding company for FirstBank Puerto Rico, on Tuesday reported net income of $22 million for the second quarter of 2016, or $0.10 per diluted share, compared to $23.3 million, or $0.11 per diluted share, for the first quarter of 2016 and a net loss of $34.1 million, or $0.16 per diluted share, for the second quarter of 2015.
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Popular Inc. earns $89M in 2Q16, banks on PROMESA
July 27, 2016
Popular Inc., parent company of Banco Popular, on Tuesday reported net income of $89 million for the quarter ended June 30, 2016, compared to net income of $85 million for the quarter ended March 31, 2016.
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Fitch: P.R. bank ratings reflect Commonwealth’s woes
July 19, 2016
Following the Commonwealth of Puerto Rico's default, ratings for the island's two main banks, Popular (BPOP) and First BanCorp (FBP), will not be immediately affected, according to Fitch Ratings.
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Bankers Assoc. educates about financial exploitation
July 11, 2016
The Puerto Rico Bankers Association is urging local citizens to help prevent fraud and financial exploitation in people who may be vulnerable, including the handicapped and the elderly.
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P.R. credit unions have $486M in reserves to face losses
June 29, 2016
Due to the possibility of a government default on some $2 billion in debt service due July 1, Puerto Rico credit unions confirmed they have enough financial capacity to face the situation, with $486 million in reserves to face possible investment losses.
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28 proposals picked for 1st edition of ‘StartUp Popular’
June 9, 2016
Twenty eight proposals from local entrepreneurs were chosen the winners of the first edition of Popular Inc.’s “StartUp Popular” initiative, which seeks to promote entrepreneurship and the economic development of Puerto Rico, bank officials said Wednesday.
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First BanCorp. garners $23.3M in 1st quarter net income
April 26, 2016
First BanCorp., the parent company for FirstBank Puerto Rico, reported Monday net income of $23.3 million for the first quarter of 2016, or $0.11 per diluted share, compared to $15 million, or $0.07 per diluted share, for the fourth quarter of 2015 and $25.6 million, or $0.12 per diluted share, for the first quarter of 2015.
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Popular Inc. reports $85M in net income in 1Q16
April 26, 2016
Encouraged by the progress shown by its U.S. mainland operation and by the strength of its Puerto Rico franchise, Popular Inc. reported Monday net income of $85 million for the first quarter ended Mar. 31, 2016, compared to net income of $137.4 million and an adjusted net income of $98.3 million for the quarter ended Dec. 31, 2015.
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Popular Community Bank expands high tech experience
March 31, 2016
Popular Community Bank, a subsidiary of Popular Inc., announced Wednesday the expansion of its high tech branches with the opening of the 285 Madison Avenue location in New York City.
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EVERTEC fails to file annual report, gets NYSE notice
March 24, 2016
EVERTEC Inc. announced Wednesday that as a result of its failure to timely file its annual report for fiscal year ended Dec. 31, 2015, it has been warned by the New York Stock Exchange that it is not in compliance with listing requirements.
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First Bank’s Alemán: ‘2015 seemed like two years in one’
February 1, 2016
First BanCorp. wrapped up what top executives called a “very busy year” with net income of $21.3 million, or $0.10 per diluted share for 2015, compared to $392.3 million, or $1.87 per diluted share, for the year ended Dec. 31, 2014.
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