First BanCorp., the bank holding company for FirstBank Puerto Rico, reported net income of $33.1 million for the first quarter of 2018.
Puerto Rico, which has been facing long-standing structural problems now has a “unique opportunity” to tackle them, Popular Inc. CEO Ignacio Álvarez said during an earnings call to disclose first quarter results.
The clash between Gov. Ricardo Rosselló’s administration and the Financial Oversight and Management Board for Puerto Rico over the implementation of the federally appointed entity’s Fiscal plan could unleash a protracted court fight and generate uncertainty about flow of federal aid to the island.