Evertec gets OK to buy Chile’s PayGroup for $40M
June 6, 2017
Evertec Inc. announced Monday that on June 1, 2017 it received U.S. federal bank regulatory approval to buy EFT Group S.A., a Chilean-based company known commercially as PayGroup at a purchase price of some $40 million.
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Assured Guaranty sues gov’t over PRHTA bonds
June 5, 2017
Assured Guaranty Ltd. Filed an adversary complaint challenging the Commonwealth of Puerto Rico’s “illegal diversion” of special revenue bond collateral that secures the payment of Puerto Rico Highways and Transportation Authority bonds.
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3rd call of ‘StartUp Popular’ program deadline is May 31
May 23, 2017
Those looking to participate in the third edition have until May 31 to submit their proposals, Banco Popular executives said Monday, adding there is $1.6 million available to winning applications
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FirstBank opens ‘Platinum Banking’ branch in Condado
May 18, 2017
Looking to cater to that high-net worth segment of Puerto Rico’s population who typically expect distinctive banking services, FirstBank officially unveiled its new branch in Condado, which houses its new Platinum Banking service, executives said Wednesday.
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Echar Pa’lante campaign marks 5 yrs. of empowerment
May 18, 2017
Echar Pa’lante, an initiative Banco Popular launched five years ago to empower a culture of entrepreneurship and innovation, is looking ahead to further linking academia, the government and the private sector to help restore Puerto Rico’s economy.
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P.R. Int’l Insurance Center shielded from restructuring
May 12, 2017
The Puerto Rico International Insurers Association (PRIIA) issued a statement Thursday saying it operates under laws and regulations that insulate its member companies and their clients from any changes to Puerto Rico that Title III bankruptcy may bring about.
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Triple-S Management Corp. reports net loss in 1Q17
May 10, 2017
Triple-S Management Corporation, a managed care company in Puerto Rico, announced Tuesday quarterly consolidated revenues of $722.5 million and a net loss of $4.3 million, or $0.18 per diluted share, versus net income of $3.4 million, or $0.14 per diluted share, a year ago.
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Carrión to step down as Popular CEO after 26-year run
April 26, 2017
Richard Carrión, who has been the face of Popular Inc. for the past 26 years, will step down from his post effective July 1, when he will become Executive Chairman of the Board of Directors of Popular.
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First BanCorp. report $25.5M net income for 1Q17
April 26, 2017
First BanCorp. reported Tuesday net income of $25.5 million for the first quarter of 2017, or $0.11 per diluted share, compared to $23.9 million, or $0.11 per diluted share, for the fourth quarter of 2016 and $23.3 million, or $0.11 per diluted share, for the first quarter of 2016.
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Oriental unveils ‘Vive’ institutional campaign
April 26, 2017
Oriental Bank announced Tuesday the second phase of its institutional campaign called “Vive,” a $1.5 million marketing and advertising effort that extends the theme that has identified the financial institution for the past several years.
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Banco Popular gains ground with ‘millenials’
April 24, 2017
Saying that it has achieved a 97 percent satisfaction rate among some 1,500 Pueto Rico college students, Banco Popular is succeeding in locking up a position for itself among the emerging “millenial” generation, which has a distinct preference for technology as part of daily life.
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Biz2Credit, Oriental join to create digital lending platform
April 21, 2017
Biz2Credit, a fintech provider to global financial institutions, announced Thursday its partnership with Oriental Bank to develop a digital lending platform for the bank’s commercial clients.
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Santander agrees to sell Island Finance to J.C. Flowers
April 4, 2017
Santander Financial Services Inc. has reached a definitive agreement to sell the personal loan and sale finance loan assets comprising the Island Finance business to funds advised by J.C. Flowers & Co. LLC and affiliates.
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Popular bets on P.R. in new institutional campaign
March 9, 2017
Under the slogan of “100 x whatever we want,” Popular bank is launching a new advertising campaign that seeks to inspire Puerto Rico residents to think differently — to see the island with new eyes and break new ground.
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Insurance sector creates $185M, 30K jobs for economy
March 3, 2017
Puerto Rico’s insurance industry represents $185 million in economic contributions to the government’s coffers and generates 30,000 direct, indirect and induced jobs, a study released Thursday shows.
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