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.
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.
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).
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.
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.
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.
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.
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.
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.
In the last decade, Puerto Rico’s banking institutions have become more proactive when it comes to detecting and reporting suspicious possible money laundering activity to local and federal authorities.
Looking to lend a hand to Puerto Rico nonprofits, Oriental Bank & Trust is taking a different approach to its Individual Retirement Account program this year, launching Tuesday a product that lets customers who open an account choose an organization that will benefit from a cash donation from the bank.
BBVA Puerto Rico revealed its annual results Tuesday, reporting $32 million in net income for the 12-month period ended Dec. 31, 2011, equivalent to a 384.3 percent year-over-year growth.
Popular Mortgage wrapped up 2011 with a 7 percent year-over-year growth, closing on 9,773 residential loans worth nearly $1.3 billion, division President Pablo Pérez said Wednesday.
Local private equity lender Moneyhouse is celebrating its fifth anniversary this month and is marking the milestone by outlining its accomplishments thus far, namely closing on more than $675 million in loans, of which 40 percent — or $275 million — are reverse mortgage cases.
Doral Bank announced Wednesday plans to increase its ATM network by more than 100 percent with the addition of 55 new machines at Walgreens drugstores islandwide. The expansion should push the number of ATMs to about 200, company officials said during a morning news conference.
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