While many Puerto Rico residents will kick off a four-day weekend today, commercial banks will be observing the July 25th Constitution Day celebration and Saturday’s José Celso Barbosa holiday with special hours.
OFG Bancorp, parent company of Oriental Bank, reported second quarter results Monday that reflected $34.1 million in income available to common shareholders, or $0.68 per share diluted, compared to $13.8 million, or $0.34 per share, in the second quarter of 2012, and $17.7 million, or $0.37 per share, in the first quarter of 2013.
Moneyhouse, a Puerto Rico-based private equity lender and frontrunner in reverse mortgage closings, is awaiting approval for licenses to operate in California and Illinois to continue its stateside expansion, company officials said.
Buoyed by a triple-play of significant transactions, Popular Inc., Banco Popular de Puerto Rico's parent company, reported net income of $327.5 million for the quarter ended June 30, 2013, compared to a net loss of $120.3 million for the quarter ended March 31, 2013.
Banco Santander Puerto Rico announced Tuesday the appointment of Román Blanco, who less than a year ago took over the reins of the island’s operations, as CEO of Santander Holdings USA and Sovereign Bank.
Puerto Rico’s major banks announced their schedules for today’s Luis Muñoz Rivera holiday, some offering shorter service hours.
Keeping Puerto Rican driver safety in mind, Point Guard Insurance recently unveiled its mobile application, through which customers can submit claims and verify status of existing ones, access contact information and roadside assistance services.
Banco Popular de Puerto Rico officials announced Monday the completion of the previously announced sale of a portfolio of non-performing residential mortgage loans with a book value and unpaid principal balance of approximately $438 million and $511 million, respectively. The all-cash transaction will reduce Popular’s non-performing residential mortgage loans by approximately 73 percent and total […]
Puerto Rican insurance firm Triple-S Vida announced Monday that it has signed a letter of intent to acquire competing insurer Atlantic Southern Insurance Co. for an undisclosed amount.
Doral Financial Corporation today announced a 1-for-20 reverse stock split of its common stock that will be effective June 28, at 4 p.m.
First BanCorp, the parent company of FirstBank Puerto Rico, announced today it has completed a sale of non-performing residential mortgage loans with an unpaid principal balance of $236.6 million (book value of $203.6 million), as well as other real estate owned (“OREO”) properties with an appraised value of $22.3 million (book value $19.2 million).
Liberty International Underwriters is adding maritime cargo insurance to its Puerto Rico portfolio, looking to tap into that business line via a web-based service through which clients can obtain required coverage for their inbound and outbound shipments.
Insurance industry credit ratings agency A.M. Best Co. has affirmed the financial strength rating of A (Excellent) and issuer credit ratings (ICR) of “a” of MAPFRE PRAICO Insurance Company, its wholly owned subsidiary, MAPFRE Preferred Risk Insurance Company, and an affiliate, MAPFRE Pan American Insurance Company, collectively known as the MAPFRE PRAICO Group.
Doral Bank announced Thursday the return of its “Ruta Mujeres d Éxito” educational initiative that supports professional and entrepreneurial women free of charge. The events will take place on Saturdays, June 8, 15, 22 and 29 at Doral’s Mayagüez, Ponce Town Center, Río Grande and San Juan (Roosevelt Avenue) branches from 9 a.m. to 2 p.m.
FirstBank’s commercial clients now have an additional tool to conduct their transactions remotely, with the availability of new “Smart Cash” and “Smart Check” services, unveiled Wednesday. Available to small and medium businesses, as well as corporate clients, these new products expand the bank’s reach to all geographic areas.
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