Oriental reports 4Q ’11 losses tied to string of one-time charges
January 31, 2012
Oriental Financial Group Inc. reported a loss of $13.1 million during the fourth quarter of 2001, sharply contrasting the positive results for the same year-ago quarter, when it recorded $3.9 million in income. The result for the quarter ended Dec. 31, 2011 also reflected a drop from the $15.6 million in the books for the prior quarter ended Sept. 30.
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Scotiabank offers to pay closing costs through novel mortgage-refinancing program
January 31, 2012
Refinancing a property is usually an expensive proposition that entails costly appraisals as well as fees that can add up to thousands of dollars, which often hold home owners back from reworking their loans to take advantage of dropping interest rates.
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Unbranded local debit cards no longer accepted at many stateside retailers
January 30, 2012
If you are one those people who are used to swiping a locally-issued ATM card issued to pay for purchases at stateside retailers, just as you would with cash, you may want to check with your bank whether that option is still available to you.
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Popular Inc. reports $151.3M net income for ’11, $3M for 4Q
January 25, 2012
Popular Inc. reported net income of $3 million for the quarter ended Dec. 31, 2011, compared with net income of $27.5 million for the quarter ended Sept. 30, 2011, and a net loss of $227.1 million for the quarter ended Dec. 31, 2010.
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Popular’s ‘Echar Pa’lante’ campaign enters new phase
January 20, 2012
Banco Popular’s “Echar Pa’lante” institutional campaign, launched five months ago, is entering a new phase this year that calls for developing a long-term blueprint to foster entrepreneurship and education to help drive Puerto Rico’s individual and collective growth.
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Doral pulls out of the red in 4Q, trims ’11 losses
January 20, 2012
Doral Financial Corporation, the parent company of Doral Bank, reported net income of $11.7 million for the fourth quarter ended Dec. 31, 2011, compared to a net loss of $30.2 million for the quarter ended Sept. 30, 2011 and a net loss of $36.1 million for the quarter ended Dec. 31, 2010.
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Banking sector ‘optimistic’ about ’12
January 10, 2012
Following a year taken up mostly by efforts to stabilize operations, the banking sector is ready to regain full financial footing and begin growing loan portfolios in 2012. All that activity should yield a much-needed positive effect on the economy, several high-ranking bankers told News is my Business.
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First BanCorp announces voluntary delisting of preferred stock from NYSE
December 21, 2011
First BanCorp, the bank holding company for FirstBank Puerto Rico, announced late Wednesday that it will delist its preferred stock from the New York Stock Exchange, effective before the market opens Jan. 17.
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Analyst: Popular poised to build upon dominant position
December 15, 2011
After suffering several years of substantial losses locally and stateside, Banco Popular has “solidified its capital base” and is “now poised to build upon its dominant position in Puerto Rico while returning its mainland operations to profitability,” investment banking firm B. Riley said in a report released Wednesday.
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Banking veteran tapped to OCIF helm
December 14, 2011
Gov. Luis Fortuño appointed former BBVA executive and banking industry veteran Rafael Blanco to head the Office of the Financial Institutions Commissioner, effective Jan. 1. Blanco will succeed current OCIF chief Alfredo Padilla, who will retire after nine years at the agency.
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Doral reports $30.2M net loss for 3Q
November 10, 2011
Doral Financial Corporation, the holding company of Doral Bank and Doral Bank FSB, reported a net loss of $30.2 million for the quarter ended Sept. 30, compared to a net income of $4.5 million for the prior quarter ended June 30.
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R-G Premier Bank rebranding as Scotiabank as of Nov. 14
November 4, 2011
Eighteen months after purchasing the failed R-G Premier Bank, Scotiabank of Puerto Rico will culminate the merger of both institutions by closing all of its 46 branches and central offices next Thursday afternoon and reopening them Monday, Nov. 14, upon completion of the integration.
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Private banks backing community reinvestment initiatives
October 26, 2011
Members of the island’s banking sector continue building on expanding the concept of “participatory democracy” through community reinvestment initiatives that are the focus of its 9th annual Community Reinvestment Week event that wraps up Friday.
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Alemán: Banking sector pulling out of crisis, but still faces hurdles
October 21, 2011
First BanCorp President Aurelio Alemán echoed Thursday what many other banking executives have been saying in recent months: the sector is slowly starting to pick up the pieces after the storm, but much work remains ahead for it to thrive again.
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Popular Inc. reports positive 3Q results; plans retirement window, branch closings
October 19, 2011
Popular Inc. sailed through its third consecutive quarter on the positive side, reporting $27.5 million in net income for the three-month period ended Sept. 30. The results were fueled by the sale of its non-performing loan portfolio and investment securities available-for-sale.
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