Puerto Rico-born investor Orlando Bravo leads acquisition of Boeing’s aviation tech portfolio. #NewsismyBusiness
Over the last 12 months ending first quarter 2024, Banesco USA has granted $212.8 million in ECIP loans in Puerto Rico. #NewsismyBusiness
The Puerto Rico government's main economic development agency unveiled Thursday the first phase of the Asset Map, created to attract new investment, create jobs and promote economic development in different regions of the island.
Doral Financial Corporation, the financial services holding company of Doral Bank, with operations in Puerto Rico and the U.S. mainland, announced Tuesday the sale of some $430 million in assets to Barclays Inc.
Doral Financial Corp. announced Monday it had entered into an agreement to sell some $824.4 million in non-performing loans to Abbey Finance Holdings PR, LLC, for a discounted amount of $369 million.
Upon wrapping up what company officials called “a difficult year,” Doral Financial Corp. is looking to reduce its exposure to Puerto Rico’s economic problems by migrating its assets to its U.S. mainland business, company CEO Glen Wakeman said during a Monday afternoon earnings conference call.
Puerto Rico’s financial system — which comprises local and international commercial banks, cooperatives, mortgage and investment companies, and public banks, among others — reported $147.6 billion in assets during the third quarter of 2013, down about 2 percent from the $151.2 billion on record for the same period in 2012.
The Corporation for the Supervision and Insurance of Puerto Rico Cooperatives, known as COSSEC in Spanish, wrapped up Fiscal 2013 with $229.2 million in assets, a 5.86 percent year-over-year increase, President Daniel Rodríguez-Collazo said during the entity’s annual convention this weekend.
Puerto Rico’s financial sector, one of the island’s key economic components, seems to be rebounding for the first time in four years, reporting $171 billion in combined assets during the second quarter of 2011.
A Dow Jones/Factiva content provider since 2014
Subscribe to our Dollars & Sense podcast!
NIMB ON SOCIAL MEDIA