Doral launches 2nd round of ‘Mujeres d Éxito’ program
April 25, 2013
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.”
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Popular Inc. reports 1Q loss tied to one-time charges
April 19, 2013
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.
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EVERTEC going public at $20 a share
April 12, 2013
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.
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FirstBank to sell $532M in non-performing loans
April 1, 2013
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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Banco Popular closes sale of $540M in NPLs, other real estate
March 26, 2013
Banco Popular de Puerto Rico announced Monday it completed the previously announced sale of a portfolio of non-performing commercial and construction loans, and commercial and single-family real estate owned, with a combined unpaid principal balance on loans and appraised value of other real estate owned of approximately $995 million and book value of approximately $540 million to an entity majority owned by a joint venture between Caribbean Property Group LLC and certain affiliates of Perella Weinberg Partners’ Asset Based Value Strategy.
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FirstBank Puerto Rico partners with FIS
March 21, 2013
FirstBank Puerto Rico announced Wednesday it has formalized a seven-year strategic alliance with FIS, a global provider of banking and payment technologies, to provide state-of-the-art products and services to its clients.
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Popular Inc. CEO Carrión moves up in NY Fed board
March 15, 2013
The Federal Reserve Bank of New York announced Friday that Popular Inc. President Richard Carrión has been elected a Class A director for a three-year term representing Group 1 which consists of banks with capital and surplus of more than $1 billion.
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EVERTEC reports $341.7M in ’12 revenue, up 6% vs. ’11
March 15, 2013
EVERTEC Group, LLC reported Thursday consolidated results for the fourth quarter and year ended December 31, 2012, reporting $91 million and $341.7 million for each respective period. Both results were up 6 percent year-over-year, company executives said.
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Popular Mortgage closes $1.5B in mortgages, refi’s in ’12
March 8, 2013
Popular Mortgage closed 10,000 new mortgages and refinancing loans in Puerto Rico last year, representing about $1.5 billion for the bank that as a result locked down a market share of about 30 percent for 2012, financial institution officials said Thursday.
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UBS unveils new U.S. Municipal & Income Fund
February 21, 2013
UBS Puerto Rico executives announced Wednesday the creation of the U.S. Municipal & Income Fund Inc., an additional investment alternative to its existing portfolio of funds.
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Santander Puerto Rico President: ‘We’re here to grow’
February 15, 2013
Saying the bank is “here to grow,” Santander Puerto Rico President Román Blanco-Reinosa outlined the financial institution’s strategy through 2015 — a plan that calls for achieving a net profit of $100 million in three years by focusing on five core business areas. When that vision is translated into numbers, it adds up to 100x35.
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Oriental garners $14.6M in net income in ’12
February 8, 2013
Oriental Financial Group Inc. reported Thursday net income of $14.6 million for 2012, equal to $0.35 per common share results, and is predicting a strong 2013 attributed to its acquisition of BBVA Puerto Rico, which “has created a larger, diversified and growth oriented banking platform.”
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Doral seeks to branch out insurance business
February 7, 2013
Doral Bank is looking to expand its participation in Puerto Rico’s insurance market by adding new coverage options via its Doral Insurance division, said Jesús Méndez, recently appointed executive vice president of operations.
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First BanCorp reports $29.8M in earnings for ’12
February 6, 2013
First BanCorp., parent company for FirstBank Puerto Rico reported net income of $29.8 million for the year ended Dec. 31, 2012, a significant improvement compared to the net loss of $82.2 million for the same period in 2011.
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Popular Inc. reports $83.9M in 4Q net income
January 25, 2013
Popular Inc. reported net income of $83.9 million for the quarter ended Dec. 31, 2012, nearly twice the $47.2 million in net income reported for the prior quarter ended Sept. 30, 2012.
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