Popular Inc. announces new president, executive VP
September 30, 2014
Popular Inc. announced Monday a pair of appointees to its top ranks, namely Ignacio Álvarez as president and COO, and former Government Development Bank President Javier D. Ferrer as executive vice president, general counsel and chief legal officer for Puerto Rico’s largest financial institution.
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EDB launches online banking tool for commercial clients
August 22, 2014
The Economic Development Bank unveiled Thursday an online banking tool that allows its commercial clients to apply for loans and follow through on their applications, becoming the first financial institution in Puerto Rico to offer this type of service.
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Oriental’s check-image deposit transactions exceed $1M
July 17, 2014
Less than a year after launching, Oriental’s check-image deposit service, “FotoDepósito” has generated more than $1 million in transactions from customers using their smartphones to interact with the bank, officials said Wednesday.
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First BanCorp. earns $17.1M in 1Q, up $2.3M YOY
April 25, 2014
First BanCorp., the bank holding company for FirstBank Puerto Rico, reported Thursday net income of $17.1 million for the first quarter of 2014, or $0.08 per diluted share, compared to $14.8 million, or $0.07 per diluted share, for the fourth quarter of 2013 and a net loss of $72.6 million, or $0.35 per diluted share, for the first quarter of 2013.
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Puerto Rican banking exec González ‘at home’ at FHLBNY
April 16, 2014
It was two weeks ago that Puerto Rican banking veteran José Ramón González took over the helm of the Federal Home Loan Bank of New York, an institution that is one of the main driving forces behind the island’s financial district.
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Puerto Rican banking veteran González to head FHLBNY
March 21, 2014
The Federal Home Loan Bank of New York announced Thursday that José R. González has been named president and chief executive officer of the FHLBNY effective April 1, 2014.
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A look back at ’13’s economic ups and downs
January 2, 2014
Puerto Rico's economy continued to be a hot button issue as growth continued to stall.
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Puerto Rico banking regulator sees tough year ahead
December 26, 2013
Following a year during which Puerto Rico’s banking sector has been mindful of its operating costs and some have specialized in areas where they believe to be most competitive, 2014 is expected to continue posing “serious challenges,” especially since the island’s economy is facing challenges of its own, Office of the Financial Institutions Commissioner Rafael Blanco predicted during a recent interview.
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Santander launches retail banking brand in the U.S.
October 18, 2013
The Santander retail banking brand was launched in the United States Thursday to 1.7 million retail, commercial and small business customers across the Northeast, with the rebranding of Sovereign Bank, company officials announced.
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Oriental looks to add 25K new accounts, boost deposits
September 12, 2013
Oriental Bank is looking to add 25,000 new customers and boost deposits by 3 percent in the next 12 months by offering to reimburse them for the bank fees they pay for using a competitor’s automated teller machine.
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Moneyhouse after ‘underserved’ U.S. Hispanic population
July 22, 2013
Moneyhouse, a Puerto Rico-based private equity lender and frontrunner in reverse mortgage closings, is awaiting approval for licenses to operate in California and Illinois to continue its stateside expansion, company officials said.
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Banking, Insurance commissioners defend budget requests
May 21, 2013
The Puerto Rico Financial Institutions and Insurance commissioners defended their respective budgets during a hearing before the Senate Finance Committee Monday, when they requested $15.2 million and $10.8 million, to run their respective agencies.
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FirstBank to sell $532M in non-performing loans
April 1, 2013
FirstBank Puerto Rico has entered into three separate agreements to sell a total of $532 million bad commercial loans with a book value of $315 million, for $201 million, or 38 percent of the unpaid principal balance.
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Santander Puerto Rico President: ‘We’re here to grow’
February 15, 2013
Saying the bank is “here to grow,” Santander Puerto Rico President Román Blanco-Reinosa outlined the financial institution’s strategy through 2015 — a plan that calls for achieving a net profit of $100 million in three years by focusing on five core business areas. When that vision is translated into numbers, it adds up to 100x35.
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Doral seeks to branch out insurance business
February 7, 2013
Doral Bank is looking to expand its participation in Puerto Rico’s insurance market by adding new coverage options via its Doral Insurance division, said Jesús Méndez, recently appointed executive vice president of operations.
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