Bankers Association, NY Fed launch 10th ‘Financial Awareness Video Contest’
October 8, 2018
This video competition allows universities to integrate different and fun alternative to educate students about important issues in the area of finance.
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MCS launches ‘Conexión de Salud’ initiative to retain physicians in P.R.
October 5, 2018
MCS’ new Conexión de Salud is part of the larger “Vivela MCS” platform and focuses on helping the company’s network providers.
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Banco Popular adds 40K new clients in the year since Hurricane María hit
October 4, 2018
Banco Popular added 40,000 new clients, as other financial institutions opted to close branches after Hurricane María tore through the island last year.
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A.M. Best puts Cooperativa de Seguros Multiples de P.R.’s ratings ‘under review’
October 2, 2018
A.M. Best announced it has placed under review with negative implications the Financial Strength Rating of A- and the Long-Term Issuer Credit Rating of “a-” of Cooperativa de Seguros Multiples de Puerto Rico.
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Popular Inc. announces sale of $300M in Senior Notes
September 13, 2018
Popular intends to use the net proceeds from the offering plus available cash to redeem $450 million aggregate principal amount of its outstanding 7.00 percent Senior Notes.
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Oriental, WindMar Home join to offer financing service in P.R. for solar energy
September 5, 2018
Oriental announced an alliance with renewable energy company, WindMar Home, to offer —the first time in Puerto Rico — financing for solar energy products.
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Triple-S Salud selects Abarca as PBM for commercial, Medicare lines
September 5, 2018
The agreement with Abarca is effective Jan. 1, 2019.
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FirstBank, INPRENDE seek to uplift 70 entrepreneurs in urban centers
August 29, 2018
With the aim of encouraging growth and strengthening established businesses in Puerto Rico’s urban centers, FirstBank and INPRENDE have joined to offer business training and advice to help 70 entrepreneurs gain a competitive edge.
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Bankers Association, FDIC educate on regulatory compliance
August 16, 2018
The Puerto Rico Bankers Association and the Federal Corporation Deposit partnered to offer the 2018 edition of their "Minority Depository Institution Compliance Seminar.”
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FirstBank marks 70 yrs in P.R. 1st initiatives for anniversary
August 15, 2018
With the slogan “70 years in your life,” FirstBank seeks to reaffirm its commitment to Puerto Rico by celebrating the achievements of its customers and inspiring them to continue counting on the institution to reach their future goals.
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Hurricane María delivers $38.7M 2Q18 net loss to Triple-S Management Corp.
August 3, 2018
Triple-S Management Corporation announced its second quarter 2018 results, that included a net loss of $38.7 million, or $1.68 loss per diluted share, versus net income of $12.7 million, or $0.52 per diluted share in the prior-year period.
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Popular closes deal on Reliable Auto, Wells Fargo’s car finance business in P.R.
August 1, 2018
Some six months after announcing its intentions, Popular Auto has completed the acquisition of certain assets and the assumption of certain liabilities related to Wells Fargo & Company’s auto finance business in Puerto Rico — Reliable Auto.
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Evertec reports 10% 2Q18 revenue growth to $113M vs. 2Q17
August 1, 2018
Evertec Inc. reported $113.3 million in total revenue for the second quarter ended June 30, representing a 10 percent increase compared with $103.5 million in the prior year.
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A.M. Best confirms ‘ongoing concerns’ over COSVI’s capital strength
July 30, 2018
A.M. Best has kept its negative outlook about Cooperativa de Seguros de Vida de Puerto Rico’s staying power and efficiency, by upholding its Financial Strength Rating of C+ (Marginal) and the Long-Term Issuer Credit Rating of “b-” remain unchanged.
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First BanCorp. Reports $31M in net income for 2Q18
July 26, 2018
First BanCorp., the bank holding company for FirstBank Puerto Rico, reported net income of $31.0 million for the second quarter of 2018, or $0.14 per diluted share, compared to $33.1 million, or $0.15 per diluted share, for the first quarter of 2018 and $28.0 million, or $0.13 per diluted share, for the second quarter of […]
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