Popular throwing its support behind real estate brokers
April 4, 2014
It’s no secret that Puerto Rico’s real estate sector has taken a beating in recent years due to the economic woes the island has been facing for the better part of the past decade. Property sales have stagnated and values have dropped in certain categories, affecting banks and brokers alike.
chat_bubble0 Comment
visibility4303 Views
FirstBank Puerto Rico top execs get significant pay raises
April 3, 2014
Several high-ranking FirstBank executives are getting significant pay raises this year, through a combination of cash and stock, according to a filing submitted to the Securities and Exchange Commission this week.
chat_bubble0 Comment
visibility7883 Views
Doral migrating assets to U.S. to reduce local exposure
March 25, 2014
Upon wrapping up what company officials called “a difficult year,” Doral Financial Corp. is looking to reduce its exposure to Puerto Rico’s economic problems by migrating its assets to its U.S. mainland business, company CEO Glen Wakeman said during a Monday afternoon earnings conference call.
chat_bubble0 Comment
visibility3804 Views
Puerto Rican banking veteran González to head FHLBNY
March 21, 2014
The Federal Home Loan Bank of New York announced Thursday that José R. González has been named president and chief executive officer of the FHLBNY effective April 1, 2014.
chat_bubble0 Comment
visibility4034 Views
Carrión: P.R. ‘at threshold of 2nd economic transformation’
March 20, 2014
Puerto Rico is at the threshold of a second economic transformation — from an industrial to a knowledge-based and services economy — and has the necessary infrastructure to pull out of its current crisis and build a “stronger and more vibrant economy.
chat_bubble0 Comment
visibility3165 Views
EVERTEC launches ‘ATH Móvil’ mobile money transfers
February 19, 2014
EVERTEC Inc. and Red ATH, which run the island’s ATMs, announced Tuesday the launching of “ATH Móvil,” a service that enables electronic money transfers between individuals and accounts held by different banking institutions, through mobile phones.
chat_bubble0 Comment
visibility6739 Views
Downgrade to have limited impact on Puerto Rico co-ops
February 17, 2014
Puerto Rico’s co-op sector is expected to experience a “reduced impact” as a result of last week’s triple downgrade of Puerto Rico’s credit to junk by U.S. ratings agencies.
chat_bubble1 Comment
visibility3947 Views
Banks run special hours for Washington’s Birthday
February 17, 2014
Puerto Rico banks will be operating on a special schedule today in observance of the Washington’s Birthday holiday. Following are the schedules for the major banks.
chat_bubble0 Comment
visibility2908 Views
Moody’s puts 3 Puerto Rican banks under ratings review
February 12, 2014
Several days after downgrading Puerto Rico's general obligation bond rating to Ba2, or junk, Moody's Investors Service placed on review for downgrade certain ratings of three local banks: Banco Santander Puerto Rico, Popular Inc. and FirstBank Puerto Rico.
chat_bubble0 Comment
visibility3178 Views
Oriental Bank starts 50th year with strong balance sheet
February 5, 2014
Oriental Bank kicked off the start of its 50th anniversary celebration Tuesday by highlighting its strong financial performance, its track record of bringing innovative financial services to Puerto Rico, and its heritage helping build strong communities.
chat_bubble0 Comment
visibility2862 Views
Oriental reports $85M in ’13 income, $16.6M for 4Q13
February 4, 2014
Oriental Financial Group reported Monday income available to common shareholders amounted to $16.6 million, or $0.35 per share diluted for the fourth quarter of 2013.
chat_bubble0 Comment
visibility3475 Views
FirstBank takes $164.5M loss in ’13, $15M profit in 4Q13
February 4, 2014
First BanCorp., the bank holding company for FirstBank Puerto Rico reported net income of $14.8 million for the fourth quarter of 2013, or $0.07 per diluted share, compared to $15.9 million, or $0.08 per diluted share, for the third quarter of 2013 and net income of $14.5 million, or $0.07 per diluted share, for the fourth quarter of 2012.
chat_bubble0 Comment
visibility2618 Views
Popular Inc. reports 144% profit hike to $599.3M in ’13
January 24, 2014
Popular Inc., parent company of Banco Popular de Puerto Rico, saw its net income increase by 144 percent year over year to $599.3 million for the year ended December 2013, in comparison to the $245.2 million reported for the prior 12-month period.
chat_bubble0 Comment
visibility3684 Views
Utuado senior housing project gets $400K federal award
January 16, 2014
The Federal Home Loan Bank of New York announced Wednesday the award of a $400,000 grant to Pathstone, Inc. to help finance the Valle Dorado project, which will construct a new building providing 32 affordable homes for very low-income seniors in Utuado.
chat_bubble0 Comment
visibility3706 Views
Puerto Rico banking regulator sees tough year ahead
December 26, 2013
Following a year during which Puerto Rico’s banking sector has been mindful of its operating costs and some have specialized in areas where they believe to be most competitive, 2014 is expected to continue posing “serious challenges,” especially since the island’s economy is facing challenges of its own, Office of the Financial Institutions Commissioner Rafael Blanco predicted during a recent interview.
chat_bubble0 Comment
visibility5065 Views
A Dow Jones/Factiva content provider since 2014
Subscribe to our Dollars & Sense podcast!
NIMB ON SOCIAL MEDIA