Popular Inc., parent company of Banco Popular de Puerto Rico, saw its net income increase by 144 percent year over year to $599.3 million for the year ended December 2013, in comparison to the $245.2 million reported for the prior 12-month period.
Puerto Rico’s declining population, rapidly aging workforce, significant fiscal pressures and subsequent policy measures have combined to prompt a reduction in the government’s workforce over the past five years by as many as 55,000 jobs, or almost 20 percent of the public sector’s workforce.
Thousands of Banco Popular employees and their families donated their time Saturday to participate in the “Make a Difference Day,” to support nearly 100 community projects in Puerto Rico, the U.S. Virgin Islands and the U.S. mainland.
A group of private sector representatives, headed by Banco Popular de Puerto Rico, is banding together to come up with a strategy to encourage a general change in attitude, place education as the epicenter of that change, and develop the business sector as an emerging paradigm for the island.
Uncertainty over the impact of new taxes on businesses may be putting a break on entrepreneurship with Puerto Rico's largest bank reporting a slowdown in its small business loan activity.
In an effort to educate young people about how to establish and make proper use of credit, Banco Popular de Puerto Rico, in partnership with the American Bankers' Association, will sponsor the “Get smart about credit” event this month.
A year after launching “Depósito Fácil” (“Easy Deposit”), a service that allows Banco Popular clients to deposit checks without having to use an envelope or fill out a deposit slip, the financial institution announced Tuesday it will be expanding the number of ATMs enabled to accept those transactions from 10 to 50 by the end of September.
Banco Popular Foundation celebrated the academic excellence and commitment to education of about 100 Puerto Rican students through its Rafael Carrión, Jr. Excellence Awards ceremony held this week.
Buoyed by a triple-play of significant transactions, Popular Inc., Banco Popular de Puerto Rico's parent company, reported net income of $327.5 million for the quarter ended June 30, 2013, compared to a net loss of $120.3 million for the quarter ended March 31, 2013.
Puerto Rico’s major banks announced their schedules for today’s Luis Muñoz Rivera holiday, some offering shorter service hours.
Two days of culinary demos and educational activities took place in the U.S. Virgin Islands late last month, during the annual “Ultimate Flavors of the Islands” event at the Frenchman’s Reef and Morning Star Marriott Beach Resort in St. Thomas and sponsored by Banco Popular.
Banco Popular de Puerto Rico recently approved $2.5 million in financing to Rincón Health Center Inc. for the construction of the Costa Salud community health center in the western municipality of Rincón.
Banco Popular de Puerto Rico announced Tuesday it has approved a $40 million credit line for the construction of the San Fernando de la Carolina hospital in Carolina, a project the municipality announced late last year.
Popular Inc. reported a first quarter loss of $120.3 million that reflected some $189.6 million in after-tax losses and adjustments related to the sale of a bad loan portfolio and other assets.
Banco Popular de Puerto Rico announced Monday it completed the previously announced sale of a portfolio of non-performing commercial and construction loans, and commercial and single-family real estate owned, with a combined unpaid principal balance on loans and appraised value of other real estate owned of approximately $995 million and book value of approximately $540 million to an entity majority owned by a joint venture between Caribbean Property Group LLC and certain affiliates of Perella Weinberg Partners’ Asset Based Value Strategy.
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