First Bancorp, parent company for FirstBank Puerto Rico reported net income of $50.1 million, or $0.23 per diluted share, for the fourth quarter of 2020, up 38% from the $36.4 million, or $0.16 per diluted share, reported for the fourth quarter of 2019. Financial results for the fourth quarter of 2020 reflected First Bancorp’s closing […]
https://media.blubrry.com/dollarsandsensenewsismybusines/newsismybusiness.com/wp-content/uploads/2021/01/Ignacio-Alvarez-01.28.2021.mp3Podcast: Play in new window | DownloadSubscribe: Apple Podcasts | RSSPopular Inc. reported net income of $176.3 million for the fourth quarter ended Dec. 31, 2020, and $506.6 million for the year 2020, compared to net income of $671.1 million for the year 2019. “We closed 2020 on a high note, generating net income of […]
The U.S. Small Business Administration has approved 516 loans worth some $16.8 million through its Paycheck Protection Program to eligible operations in Puerto Rico and the US Virgin Islands in the first two weeks of the second round of funding. The emergency financing program re-opened Jan. 11 and the numbers provided are through Jan. 24, […]
OFG Bancorp, the financial holding company of San Juan-based Oriental Bank, reported results for the fourth quarter and year ended Dec. 31, 2020, revealing $132.8 million and $519.3 million in revenue, respectively. While the result for the final three month period of last year showed a 35% increase from the versus $98.4 million reported during […]
Popular Inc. announced it is now receiving Paycheck Protection Program applications from commercial customers and nonprofit organization, following an additional $284 billion in program funding from the U.S. Congress. Applications will be serviced throughout Popular’s three geographic regions, including Puerto Rico, the US Virgin Islands and the mainland United States, the bank said. “Since the […]
The Public Corporation for the Supervision and Insurance of Puerto Rico Cooperatives (COSSEC, in Spanish) confirmed that local credit unions will be able to access some $3 billion in budgetary allocations included in the new federal economic stimulus package that seeks to revitalize communities with low and moderate resources. The federal funding bill allocates $3 […]
Puerto Rico’s banking sector, which is likely the most impactful sector of the economy, could use greater collaboration from the government to boost individual and commercial services, while reducing expenses for the public sector. Furthermore, the government could also move quicker toward stimulating the use of local banks to manage its liquidity and urge the […]
The Banker, The Financial Times’ international banking magazine, has named Banco Popular de Puerto Rico at “Bank of the Year Puerto Rico” for the seventh consecutive year. The Banker announced the award during the virtual awards ceremony held recently. According to The Banker, 2020 has been “an incredibly tough year,” as the COVID-19 pandemic brought […]
The Puerto Rico Treasury Department has ruled that the cash benefit available in certain products to Medicare Advantage plan members is not considered income and, therefore, does not affect the member’s eligibility for other programs and services based on income. “We’re very pleased that the Treasury Department expressed and confirmed through a ruling that the […]
The El Zorzal Apartments has been included in a group of 46 affordable housing initiatives that will receive funding from the Federal Home Loan Bank of New York’s Affordable Housing Program (AHP), the stateside entity announced. The 24-unit, one-bedroom apartments reserved for the homeless, physically challenged, or mentally challenged population will get $703,540, José R. […]
[EDITOR’S NOTE: This post is an advertorial sponsored by Banco Popular de Puerto Rico.] In recent months, many companies and businesses have had to adapt their ways of working and sometimes reinvent themselves. Aware of the impact left by the COVID-19 pandemic, Popular continues its efforts to make life easier for business customers through the […]
Triple-S Vida announced its entry into the Florida and Texas markets to offer its cancer and life insurance products and “position itself as an affordable and reliable option for consumers seeking economic protection against life’s events.” “These two markets offer us access to broad Hispanic populations, as well as an introduction to other consumers. We’re […]
CheckAlt, an independent provider of item and payment processing services in the U.S., and Banco Popular Puerto Rico, have extended and expanded their partnership to better serve the bank’s ATM users and create operational efficiencies with ATM reconciliation services. “We’re delighted to deepen our great relationship with BPPR and provide additional value for processing and […]
Healthcare insurance provider MCS announced that its MCS Classicare Te Paga card, La Original, exceeded 1 million transactions in October, almost a year after it was implemented. The company is marking the milestone because, it said that through this benefit, it has “contributed to improving the quality of life of more than 125,000 of its […]
Financial institution Oriental announced that starting at noon today, it will begin its integration of the former Scotiabank platform. The process will take place over the weekend and will be completed at 8:30 a.m. Monday, bank officials said. To achieve the migration, former Scotiabank branches will be closed Saturday and Sunday, it was further announced. […]
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