Santander puts money in hands of entrepreneurial students
May 18, 2012
Entrepreneurial college students are the kind of people Banco Santander wants to support not only in Puerto Rico, but wherever it does business worldwide.
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Doral reports $2.6M in 1Q earnings, $101.5M increase in Tier 1 capital
May 16, 2012
Doral Financial Corp. reported net income of $2.6 million for the quarter ended Mar. 31, which reflected a 21.2 percent drop in comparison to the $3.3 million reported for the same year-ago quarter.
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First BanCorp reports 1Q ’12 net loss, announces $400M credit card portfolio deal
May 8, 2012
First BanCorp, the bank holding company for FirstBank Puerto Rico reported Monday a net loss of $13.2 million for the first quarter of 2012, which included a non-cash charge of $6.2 million related to equity in losses of unconsolidated entities.
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FirstMortage reports 8% loan production growth in ’11
May 3, 2012
FirstMortgage, FirstBank’s mortgage division, is following the strategic plan it laid out for itself last year to improve its market standing by focusing on three areas: customer service, streamlining procedures and improving efficiency in the loan origination and closing process.
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SEC charges UBS P.R., 2 execs with fraud
May 1, 2012
The Securities and Exchange Commission on Tuesday charged UBS Financial Services Inc. of Puerto Rico and two executives with making misleading statements to investors, concealing a liquidity crisis, and masking its control of the secondary market for 23 proprietary closed-end mutual funds.
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Popular announces 1-for-10 reverse stock split
May 1, 2012
Popular Inc. announced Monday that its stockholders approved a proposed 1-for-10 reverse split of its common stock, which is expected to become effective May 29.
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Scotiabank approves $20.4M for EDIC College acquisition
May 1, 2012
Scotiabank de Puerto Rico recently approved $20.4 million in financing to Renovous Capital, LP to complete its acquisition of EDIC College Inc., the bank announced Monday.
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BBVA Puerto Rico reports $8.6M profit in 1Q ’12
April 26, 2012
A combination of strong growth in deposits and loans drove BBVA Puerto Rico’s first quarter results, which reflected an $8.6 million net profit for the period, up 42.4 percent year-over-year, the bank disclosed Wednesday.
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Banco Popular launches ‘app’ for iPhone, iPod touch
April 25, 2012
Banco Popular announced Tuesday the launch of its new mobile banking application for the iPhone and iPod touch, which will be available to download for on the Apple App Store, starting Thursday (Apr. 26).
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Doral reveals ‘Mujeres d Éxito’ program winners
April 13, 2012
Doral Bank revealed Thursday the results of its “Mujeres d Éxito” institutional campaign, through which it has financed a number of initiatives to drive female economic development Puerto Rico, via the “Internado Doral,” “Despegue Empresarial” and “Fondo Doral” programs.
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Moody’s reviews 3 P.R. banks for possible ratings downgrades
April 10, 2012
Moody's Investors Service zeroed-in on several members of Hato Rey's Golden mile Tuesday, placing on review for downgrade certain ratings of three Puerto Rican banks, including Banco Santander Puerto Rico, Banco Bilbao Vizcaya Argentaria Puerto Rico and Popular Inc.
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Multinational Insurance claims P.R. market footing
April 9, 2012
Five months after entering Puerto Rico's insurance market, Multinacional de Seguros is laying the groundwork to establish itself as a contender in the highly competitive $8 billion economic sector.
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Doral Bank writes off $200M in overpaid P.R. taxes, stock soars 21%
April 3, 2012
Doral Bank has reached a deal with the Treasury Department regarding $200 million in overpaid taxes that the bank will now write off in its books as a prepaid expense.
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FirstBank refocuses to pursue small and mid-sized businesses
March 28, 2012
FirstBank Puerto Rico is looking to triple its market share of small- and mid-sized business customers over the next five years from its current 12 percent through an aggressive campaign and revamped platform catering to the segment often tagged as the motor of the island’s economy.
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BPOP completes AAdvantage co-branded card conversion
March 22, 2012
Seven months after Banco Popular entered into an agreement with American Airlines Inc. to become the exclusive issuer of AAdvantage co-branded credit cards in Puerto Rico and the U.S. Virgin Islands, and the acquisition of the Citi/AAdvantage co-branded credit card portfolio, the bank announced Wednesday the conversion has been completed.
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