Doing the work of promoting Puerto Rico beyond its shores is an important task, but the island must continue working on its structural issues so that it becomes a place where doing business works, said Ignacio Álvarez, CEO of Popular Inc. during a recent sit-down with the media. “You can sell something, but if after […]
First BanCorp. reported net income of $43.3 million, or $0.20 per diluted share, for the first quarter ended Mar. 31, 2019, compared to $101.1 million, or $0.46 per diluted share, for the fourth quarter of 2018, and $33.1 million, or $0.15 per diluted share, for the first quarter of 2018. The fourth quarter of 2018 […]
As it marks its 60th anniversay, Triple-S announced its support for two causes that influence social factors that have a significant impact on health in Puerto Rico. “Social determinants of health include a wide range of issues. To be more effective, we have chosen to focus on access to healthy food and emotional wellbeing,” said Triple-S […]
MCS executives will join industry experts in the 2019 Puerto Rico Health Insurance Conference on April 5 to discuss from the private sector’s perspective some of the most controversial challenges impacting the industry, and how they can be addressed, organizers announced. In response to the many challenges stemming from current federal underfunding policies, the healthcare […]
FirstBank recently granted $6.5 million in financing to Air-Con Inc., a distributor of air conditioners and commercial refrigeration, for working capital guaranteed by its inventory and accounts receivables. Air-Con Inc., which has offices in Puerto Rico and the Caribbean, pioneered in introducing energy saving inverter products to Puerto Rico. It also developed its own Air-Con […]
The San Juan Mercantile Exchange Inc. (SJMX) and the San Juan Mercantile Bank & Trust International Corp. (SJMBT) today announced that SJMBT has received its license to operate from the Puerto Rico Office of the Commission of Financial Institutions. The license authorizes SJMBT to operate as an International Financial Entity (IFE) under OCIF’s banking regulations, […]
Western Union, a provider of cross-border, cross-currency money movement, announced an alliance between Western Union Business Solutions and TuChequera.com that will allow entrepreneurs in Puerto Rico to conduct business in more than 130 currencies and send online business payments through a platform available 24/7. “Puerto Rico is the first region in Latin America and The […]
Part of the success of any business is to be able to count on capital that supports their growth and keeps the operations solid. In response to that Popular announced its 7th call for funding, business coaching and networking program, StartUp Popular. The application deadline is April 30, 2019. Since its inception, more than 85 […]
A Key Biscayne, Florida resident was found guilty by a federal jury for his role in a $100 million scheme to defraud Westernbank of Puerto Rico. The losses triggered a series of events leading to Westernbank’s insolvency and ultimate collapse in 2010. Jack Kachkar, 55, was convicted of eight counts of wire fraud affecting a […]
First BanCorp., the bank holding company for FirstBank Puerto Rico, reported net income of $201.6 million, or $0.92 per diluted share, for the year ended Dec. 31, 2018, compared to $67 million, or $0.30 per diluted share, for the year ended Dec. 31, 2017. The financial institution also reported net income of $101.1 million, or […]
The Puerto Rico Bankers Association (PRBA) and the Federal Reserve Bank of New York (FRBNY) recognized the creativity and talent of college students who participated in the most recent edition of the “Financial Awareness Video Contest.” For 10 years, said competition has been well known for motivating college students to develop creative audiovisual pieces about […]
Popular Inc. closed 2018 with significant year-over-year increases in its net and adjusted income, according to its quarterly earnings report. For the 12-month period ended Dec. 31, 2018, adjusted net income was $487 million, up 76 percent from the prior year’s adjusted net income of $276 million. Net income for 2018 totaled $618.2 million, a […]
OFG Bancorp reported net income of $23.1 million, or $0.45 per fully diluted share, compared to $19.6 million during the third quarter of 2018, or $0.42 per share and the same year-ago quarter, when it made $13.6 million or $0.30 per share. For the year ended Dec. 31, 2018, the financial institution reported net income […]
As part of its strategy to offer “modern and innovative” facilities for its clients, Popular announced the consolidation of its auto and leasing services at the former Doral building on Roosevelt Ave., the financial institution announced. Effective Jan. 19, the Popular Auto customer service division formerly located at Popular’s Altamira location, and Reliable Auto, formerly […]
The Banker named Banco Popular de Puerto Rico “Bank of the Year Puerto Rico,” acknowledging the bank’s continued expansion and customer base growth, racking up strong numbers in 2017.
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