Puerto Rico’s major banks announced their schedules for today’s Luis Muñoz Rivera holiday, some offering shorter service hours.
Banco Popular de Puerto Rico officials announced Monday the completion of the previously announced sale of a portfolio of non-performing residential mortgage loans with a book value and unpaid principal balance of approximately $438 million and $511 million, respectively. The all-cash transaction will reduce Popular’s non-performing residential mortgage loans by approximately 73 percent and total […]
Doral Financial Corporation today announced a 1-for-20 reverse stock split of its common stock that will be effective June 28, at 4 p.m.
First BanCorp, the parent company of FirstBank Puerto Rico, announced today it has completed a sale of non-performing residential mortgage loans with an unpaid principal balance of $236.6 million (book value of $203.6 million), as well as other real estate owned (“OREO”) properties with an appraised value of $22.3 million (book value $19.2 million).
Doral Bank announced Thursday the return of its “Ruta Mujeres d Éxito” educational initiative that supports professional and entrepreneurial women free of charge. The events will take place on Saturdays, June 8, 15, 22 and 29 at Doral’s Mayagüez, Ponce Town Center, Río Grande and San Juan (Roosevelt Avenue) branches from 9 a.m. to 2 p.m.
FirstBank’s commercial clients now have an additional tool to conduct their transactions remotely, with the availability of new “Smart Cash” and “Smart Check” services, unveiled Wednesday. Available to small and medium businesses, as well as corporate clients, these new products expand the bank’s reach to all geographic areas.
First BanCorp on Monday announced the U.S. Bankruptcy Court for the Southern District of New York denied the bank’s motion for summary judgment filed in connection to $66.6 million it had posted as collateral with Lehman Brothers Inc., which filed for Ch. 11 nearly five years ago.
“Emotions” — or the transformation of a frame of mind, typically accompanied by physiological and behavioral changes in the individual — is the title of FirstBank’s new brand campaign, representing the evolution of its previous institutional efforts.
Transaction processing firm Evertec Inc. announced $27.5 million in adjusted net income, or a 37 percent year-over-year increase, for the first quarter ended March 31, during which it completed two key transactions: an initial public offering and debt refinancing in April.
Banco Popular de Puerto Rico recently approved $2.5 million in financing to Rincón Health Center Inc. for the construction of the Costa Salud community health center in the western municipality of Rincón.
OFG Bancorp, which until earlier this week was known as Oriental Financial Group Inc., revealed its first quarter results Thursday, which reflected income of $17.7 million for the three-month period, up from the $9.5 million reported for the same year-ago quarter.
Doral Bank unveiled details Wednesday of the second edition of its “Mujeres d Éxito,” institutional program that aims to bolster Puerto Rican women’s professional and economic development. The bank will be investing $1 million in several initiatives within the community program, namely “Despegue Empresarial,” “Fondo Doral,” “Internado Doral” and “Ruta Mujeres d Éxito.”
Popular Inc. reported a first quarter loss of $120.3 million that reflected some $189.6 million in after-tax losses and adjustments related to the sale of a bad loan portfolio and other assets.
EVERTEC Inc. announced Thursday it has priced its shares at $20 for an initial public offering through which it could raise about $500 million for up to 25.2 million shares.
FirstBank Puerto Rico has entered into three separate agreements to sell a total of $532 million bad commercial loans with a book value of $315 million, for $201 million, or 38 percent of the unpaid principal balance.
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