Oriental Bank has launched a new digital platform that seeks to make it “fast and easy” for small and medium-sized Puerto Rico businesses to apply for and manage commercial credits through the life cycle of their relationship.
Popular Inc. announced that, on May 22, its subsidiary Banco Popular entered into a Termination Agreement with the Federal Deposit Insurance Corp.
Triple-S Management Corporation announced its first quarter 2018 results, which net income of $3.9 million, or $0.17 per diluted share, versus a net loss of $4.3 million, or $0.18 per diluted share, in the prior-year period.
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.
This week, Santander Securities LLC (SSLLC), the investment division of Banco Santander, sent a letter to its clients in Puerto Rico notifying them that, as of May 25, 2018, the Santander Securities branch in San Juan will close to the public.
The first week of April will be critical to the future of Puerto Rico’s healthcare system as the Centers for Medicare and Medicaid Services (CMS) will rule over numerous requests for improved treatment in the funding for Medicare Advantage programs on the island, the Medicare Advantage Products Association of Puerto Rico said.
In a market where population is steadily declining, the economy has contracted and the fiscal situation has been in a downward spiral, it has become a challenge for financial institutions to keep their deposit levels growing.
Evertec and ATH announced that their ATH Móvil service has reached one million users since its inception four years ago.
The Federal Housing Administration (FHA) announced expanded mortgage relief to FHA-insured homeowners who live or work in areas impacted by Hurricanes Harvey, Irma and María as well as California wildfires and subsequent flooding and mudslides.
EVERTEC Inc. announced results for the fourth quarter and full year ended Dec. 31, 2017, reflecting a 2 percent revenue drop, to $99.6 million, during the three-month period, but a 5 percent increase to $407.1 million for the 12-month period.
Sun West Mortgage announced the opening of third branch in Puerto Rico, which called for an investment of some $200,000, located at the Ciudadela complex in Santurce.
Banco Popular de Puerto Rico has agreed to acquire Wells Fargo & Company’s auto finance business in Puerto Rico, which operates as Reliable Financial Services Inc. and Reliable Finance Holding Company, for $1.7 billion, the financial institution announced.
Draco-Risk has set up shop in Puerto Rico and the U.S. Virgin Islands to assist customers in the process of receiving just and correct payments from the insurance companies in their claims, after hurricanes Irma and María.
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