Popular will report an after-tax gain of approximately $131 million.
The class-action lawsuit names Triple-S, MAPFRE, Universal Insurance and Cooperativa de Seguros Múltiples.
The transaction has received regulatory approval.
The recent result was down from the $218 million on record for the same year-ago period.
The bank reported growth in several segments.
The banking executive recognized the challenges affecting the island, such as skyrocketing electricity costs and the increase in cost of living.
The fund's investments will range from $250,000 to $1 million in companies from the seed stage to pre-IPO.
In connection with the transaction, Popular will add some 165 employees and contractors from Evertec.
Banesco USA received a capital injection from the U.S. Treasury.
The Dominican community represents 16% of Puerto Rico’s population.
The project will be financed through a capital investment made by Banco Popular.
First quarter results included $11.3 million in merger and restructuring in connection the bank's acquisition of Banco Santander.
The most recent quarter is compared to the last quarter of 2021, when Popular Inc. reported net income of $206.1 million.
OFG CEO José Rafael Fernández said the financial institution had a “solid quarter."
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