Puerto Rico banking regulator sees tough year ahead
December 26, 2013
Following a year during which Puerto Rico’s banking sector has been mindful of its operating costs and some have specialized in areas where they believe to be most competitive, 2014 is expected to continue posing “serious challenges,” especially since the island’s economy is facing challenges of its own, Office of the Financial Institutions Commissioner Rafael Blanco predicted during a recent interview.
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OCIF ends probe of UBS Bank USA’s Puerto Rico dealings
December 23, 2013
The Office of the Financial Institutions Commissioner announced it has entered into an agreement with Utah-based UBS Bank USA through which the latter will transfer a securities-backed loan portfolio worth $562 million to UBS Financial Services Inc. of Puerto Rico.
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Puerto Rico banks tweak hours for Christmas holiday
December 23, 2013
Puerto Rico is said to have one of the longest Christmas holiday seasons on the planet, and for the next two weeks many businesses and government offices will operate on special schedules in observance of those days.
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Bankers Assoc. helps educate on keeping holiday budget
December 10, 2013
The Puerto Rico Bankers Association recently launched the third edition of its holiday season educational campaign “This Christmas Season: Enjoy. Share. Save” campaign, through which it seeks to provide consumer advice on how to maximize financial resources during the holiday shopping season, while helping them avoid an excessive level of debt.
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FirstBank to raise funds for SER de Puerto Rico via ATMs
December 6, 2013
FirstBank, in partnership with transaction processing company EVERTEC, announced Thursday the start of a campaign to raise funds for nonprofit Ser de Puerto Rico, an organization dedicated to offering a variety of services to special needs children and adults.
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Puerto Rico’s financial system reports 2% asset drop
November 26, 2013
Puerto Rico’s financial system — which comprises local and international commercial banks, cooperatives, mortgage and investment companies, and public banks, among others — reported $147.6 billion in assets during the third quarter of 2013, down about 2 percent from the $151.2 billion on record for the same period in 2012.
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Oriental is 1st local bank to offer mobile check deposit
November 22, 2013
Oriental Bank announced Thursday the launch of “FOTODepósito,” a service that allows clients to deposit checks through their smartphones and tablet devices, becoming the first and only bank in Puerto Rico to offer a mobile deposit solution.
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Several banks run special holiday hours for Discovery Day
November 19, 2013
Several major Puerto Rico banks will be operating on a special schedule today in observance of the Discovery Day holiday.
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Banks run special hours for Veterans Day holiday
November 11, 2013
Puerto Rico banks will be operating on a special schedule today in observance of the Veterans Day holiday. Following are the schedules for the major banks.
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Puerto Rico Bankers Assoc., FDIC to offer joint seminar
November 7, 2013
The Puerto Rico Bankers Association and the Federal Deposit Insurance Corp. will present the 7th edition of the Minority Depository Institution Training Seminar on Nov. 7-8.
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ATH Network launches rewards program via Facebook
November 6, 2013
The ATH Rewards program that EVERTEC Inc. and the ATH Network will kick off Friday on Facebook packs a double wallop: it's a tool for Puerto Rico merchants to grow their business and helps consumers save money through special offers and product discounts.
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Doral Financial reports $7.5M loss for 3Q13
November 5, 2013
Doral Financial Corporation today reported a net loss for the third quarter ended Sept. 30, 2013 of $7.5 million, closing the gap from net losses of $10.4 million and $32.5 million for the second quarter ended June 30, 2013 and the year ago quarter ended Sept. 30, 2012, respectively.
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FirstBank acting on cleaner balance sheet to push growth
October 31, 2013
On the heels of a good third quarter, FirstBank executives are looking to capitalize on a “cleaner balance sheet” to continue strengthening and growing its franchise on all fronts in Puerto Rico, the U.S. Virgin Islands and South Florida.
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UBS looks to clear the air with clients after SEC decision
October 31, 2013
A day after the Securities and Exchange Commission absolved two of its top Puerto Rico financial advisors of charges of misleading or defrauding customers, UBS Financial Services looked to clear the air with its client base through an extensive letter in which it addressed a number of public allegations regarding its recent business practices.
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Oriental records $16.2M profit in 3Q13
October 29, 2013
OFG Bancorp reported Monday its results for the third quarter ended Sept. 30, which showed income available to common shareholders of $16.2 million, up 10 percent from the $14.7 million reported in the same year-ago quarter.
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