Popular launches new way to apply for business credit
January 21, 2022
SPONSORED POST Popular announced today the launch of a new digital platform where small business owners can apply for loans and lines of credit in an agile and convenient way. The platform includes an innovative, secure system designed so that customers can manage and check the status of their application online at any time, simplifying […]
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Oriental CEO: ‘The stars are aligning for Puerto Rico’s economic growth’
January 20, 2022
The confirmation of Puerto Rico’s debt restructuring plan is one of several positive circumstances that is positioning the island for an economic rebound in coming years, but which will require unity between the public and private sectors. José Rafael Fernández, CEO of OFG Bancorp, said Puerto Rico’s economy is already in a “very different situation” […]
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Banesco USA to get $238M from US Treasury’s Emergency Capital Investment program
December 21, 2021
Banesco USA announced has been approved to participate in the U.S. Department of the Treasury’s Emergency Capital Investment Program (ECIP), for which it is eligible to receive an investment of up to $237.5 million. With the funds it will be able to increase lending to small and minority-owned businesses, and low- and moderate-income consumers in […]
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Puerto Rico’s banking industry continues to strengthen in past year
December 13, 2021
The Puerto Rican banking industry has continued to strengthen over the past year, supported by an increase in liquidity and the strengthening of asset quality. The Financial Stability Index for Commercial Banks in Puerto Rico, prepared by Estudios Técnicos, Inc., increased to 0.60 in the third quarter of 2021, compared to 0.47 in the same […]
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First BanCorp. reports $75.7M in 3Q21 net income
October 26, 2021
First BanCorp., FirstBank Puerto Rico’s parent company, reported net income of $75.7 million, or $0.36 per diluted share, for the third quarter of 2021, compared to $70.6 million, or $0.33 per diluted share, for the second quarter of 2021, and $28.6 million, or $0.13 per diluted share, for the third quarter of 2020. Financial results […]
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OFG reports $41.6M in profits during 3Q21, up 61% YoY
October 21, 2021
OFG Bancorp, parent company of Oriental Bank, reported $41.6 million in net income available to shareholders during the third quarter ended Sept. 30, a 61% improvement from the $25.8 million on record for the same year-ago quarter. The financial institution reported diluted earnings per share of $0.81 during the latest quarter, compared to $0.50 in […]
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Popular Inc. reports $79.7M in YoY net income growth in 3Q21
October 21, 2021
Popular Inc., the parent company of Banco Popular de Puerto Rico (BPPR), reported net income of $248.1 million for the quarter ended September 30, 2021, up $79.7 million in comparison to the $168.4 million reported for the same year-ago quarter. “The third quarter was another strong quarter. We achieved net income of $248.1 million, driven […]
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StartUp Popular looking to the future and prepared for new entrepreneurs
October 18, 2021
For more than five years, StartUp Popular has been a promoter of entrepreneurship and the economy of Puerto Rico. The program, which has been dedicated to offering financing, coaching and events to encourage networking among local entrepreneurs, will continue to receive applications. StartUp Popular is designed for entrepreneurs who have a business with two years […]
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SBA Express: A loan for small businesses
October 1, 2021
EDITOR’S NOTE: This post is sponsored by Oriental bank. It has been a hard year for small and medium businesses (SMEs). The COVID-19 pandemic stopped the economy, and SMEs were the first to feel the consequences. Months with little to no activity can have a devastating effect on a business. Luckily, the Small Business Administration […]
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Study: Puerto Rico credit unions have expansion opportunities in US Hispanic markets
September 30, 2021
Puerto Rico credit unions “have a great opportunity” for expansion with the growing Puerto Rican migratory flow to the US mainland, where they can also grab part of the Hispanic market that does not yet have banking services, according to a study by local analysis firm Estudios Técnicos. Other growth challenges for Puerto Rican credit […]
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Oriental Bank supports SMEs
September 1, 2021
Small and medium sized enterprises (SME) are often called the “backbone” of Puerto Rico’s economy. They account for 95% of the business on the island and almost half of all the jobs in the private industry, and they are key for stimulating entrepreneurship and developing a strong economy. That’s why we support SMEs. From special […]
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First BanCorp. reports $70.6M in net income, up 231% Y-O-Y
July 26, 2021
First BanCorp, the parent company of FirstBank Puerto Rico, reported net income of $70.6 million, or $0.33 per diluted share, for the second quarter of 2021, up 231% from the $21.3 million, or $0.09 per diluted share on record for the same year-ago quarter. The quarter includes a net benefit of $26.2 million recorded to […]
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Popular Inc. reports $218.1M in net income in 2Q21
July 23, 2021
Popular Inc., parent company of Banco Popular de Puerto Rico, reported $218.1 million in net income for the second quarter ended June 30, 2021, compared to the $127.6 million on record for the same period in 2020, representing $90.5M in year-over-year growth. The most recent figure compares to $262.6 million in net income reported for […]
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Oriental CEO: ‘It’s time to pull out of bankruptcy’
July 22, 2021
OFG Bancorp, the parent company for Oriental Bank, reported results for the second quarter ended June 30, 2021, that revealed diluted earnings per share of $0.78 compared to $0.56 in first quarter of 2021 and $0.39 in 2Q20. Total core revenues were $133.3 million compared to $127.7 million in first quarter of 2021 and $128.2 […]
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Fitch Ratings upgrades First BanCorp to ‘BB;’ assigns stable outlook
June 25, 2021
Fitch Ratings announced it has upgraded First BanCorp’s (FBP) Long-Term Issuer Default Rating to ‘BB’ from ‘B+,’ with a stable outlook. “The upgrade primarily reflects Fitch’s review of FBP’s blended operating environment score as well as the resiliency of FBP’s financial profile despite the significant challenges in Puerto Rico’s operating environment over the past several […]
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