MCS expands institutional wellness training program
May 16, 2011
Health insurance provider MCS is expanding the scope of its Wellness Institute initiative to include more businesses looking to establish in-house programs to promote health in their workplaces. At present, there are 50 companies participating in the MCS program launched in November 2010.
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SIF obtains $242M loan from Banco Santander Puerto Rico
May 16, 2011
The State Insurance Fund recently signed off on a $242 million loan from Banco Santander Puerto Rico to refinance a prior loan that was in default and for ongoing improvements planned at the government agency.
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First BanCorp reports $28.4M 1Q loss
May 6, 2011
First BanCorp continued its path of negative quarterly growth, reporting a net loss of $28.4 million for the first quarter of 2011. However, the result for the period ended March 31 reflected a marked improvement from the $251.4 million net loss reported for the fourth quarter of 2010 and the $107 million net loss for the first quarter of 2010.
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Oriental reports $13.1M in 1Q net income
April 29, 2011
Oriental Bank, one of only several financial institutions doing business in Puerto Rico that weathered last year’s banking debacle, reported $13.1 million in net income for the first quarter of 2011, up 4.7 percent from the same period last year.
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Popular Inc. back to black, reports $10.1M net income in 1Q
April 25, 2011
Buoyed by a reduction in the island’s corporate tax rate and the sale of its equity stake in Consorcio de Tarjetas Dominicanas, S.A., Popular Inc. on Monday reported net income of $10.1 million for the first quarter ended March 31, an improvement over the net loss of $85.1 million during the same period the year before.
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Doral reports $3.3M net income increase in 1Q
April 20, 2011
Doral Financial Corp., parent company of Doral Bank, released quarterly results Wednesday that reflected $3.3 million in net income for the period ended March 31, a marked improvement from the $36.1 million in net losses on record for the prior quarter ended Dec. 31, 2010.
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FDIC set to file more than 150 lawsuits against failed banks executives
April 12, 2011
The Federal Deposit Insurance Corporation is said to be preparing to sue at least 150 banking executives responsible for the financial debacle that has prompted the closing of nearly 350 banks in the United States since 2008, including three in Puerto Rico last year.
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Doral bank unveils $1M energy conservation initiative
April 7, 2011
Doral Bank is looking to reduce its energy footprint and contribute to better local environmental conditions with a $1 million overhaul of its Roosevelt Ave. headquarters lighting systems.
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BBVA Puerto Rico discloses growth plans for ’11, long term
April 6, 2011
BBVA Puerto Rico, one of the few banks that has successfully weathered the island's protracted financial meltdown, is looking to increase its local market share to 10 percent over the next five years, a high-ranking official said Wednesday.
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First BanCorp unable to file timely ’10 annual report with SEC
April 1, 2011
First BanCorp on Friday informed the Securities and Exchange Commission that it will not be able to file its annual report for the year ended Dec. 31, 2010 on time, “without unreasonable effort and expense,” as it has not finished preparing the documents for that filing period.
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BPPR to sponsor luxury property auction in May
March 30, 2011
New York-based real estate auctioneer Sheldon Good & Co. and Banco Popular de Puerto Rico announced Wednesday an upcoming joint auction of 101 luxury residences and villas located in five developments throughout the island.
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Banco Santander Puerto Rico again included in list of best emerging banks
March 27, 2011
For the fourth time in the past five years, Banco Santander Puerto Rico has landed a spot on the list of “Best Emerging Market Banks in Latin America,” a ranking published by the editors of Global Finance magazine that includes 23 countries in Central and South America and the Caribbean.
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FirstBank wins $83.1M Coral Gables foreclosure case
March 21, 2011
FirstBank Puerto Rico recently won a foreclosure case worth $83.1 million related to an upscale residential development project located at the heart of Coral Gables, the South Florida Business Journal reported.
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OCIF to create Financial Education Institute; embarks on weeklong orientation tour
March 14, 2011
OCIF Chief Alfredo Padilla offers details on new Institute, as education division director Velia Cardona looks on. Financial Institutions Commissioner Alfredo Padilla announced Monday the creation of the Financial Education Institute, whose main goal is to offer financial education to island residents. The Institute will operate two areas: a Research and Analysis Center, equipped with […]
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Padilla: Banking sector on the mend after meltdown year
March 4, 2011
Nearly a year after Puerto Rico’s banking sector experienced a meltdown of historic proportions with the closing of three financial institutions, Financial Institutions Commissioner Alfredo Padilla said Friday that 2011 should be a “turnaround year” for the industry.
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