BADECO receives $1M in SBA funding
October 4, 2012
The Central-Eastern Development Bank, known as BADECO by its acronym in Spanish, became the only entity in Puerto Rico selected to participate in the Small Business Administration’s Loan Brokers Pilot Program, getting a $1 million assignment, organization Executive Director Adrián Muñiz-Mariani said Wednesday.
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Signing deadline looms for bill mandating foreclosure mediation
August 16, 2012
A bill establishing mandatory mediation in foreclosures of a primary residence seemed a shoe-in for the governor's signature, but now the anticipated outcome is not so certain.
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Popular reports $65.7M in 2Q net income
July 19, 2012
Popular Inc. reported Wednesday net income of $65.7 million for the second quarter ended June 30, 2012, compared with $48.4 million in net income during the prior trimester ended March 31.
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Santander Puerto Rico president, Hidalgo, steps down
July 5, 2012
Javier Hidalgo-Blázquez, President and CEO of Santander BanCorp and Santander Puerto Rico, resigned to his positions to assume new responsibilities within the bank’s parent company, Grupo Santander in Spain. However, bank officials did not say Thursday when his resignation will take effect.
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P.R. lays out investment benefits to Venezuelan business community
June 22, 2012
In an effort to boost awareness about investment opportunities in Puerto Rico, the Economic Development and Commerce Department and the Venezuelan Association of Entrepreneurs, Executives and Professionals presented before a large group of Venezuelan executives the “Puerto Rico: Investment Opportunities” seminar, focusing on the manufacturing and banking sectors as those with the greatest economic potential.
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FirstBank refocuses to pursue small and mid-sized businesses
March 28, 2012
FirstBank Puerto Rico is looking to triple its market share of small- and mid-sized business customers over the next five years from its current 12 percent through an aggressive campaign and revamped platform catering to the segment often tagged as the motor of the island’s economy.
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Moneyhouse marks 5th anniversary with significant milestones
February 2, 2012
Local private equity lender Moneyhouse is celebrating its fifth anniversary this month and is marking the milestone by outlining its accomplishments thus far, namely closing on more than $675 million in loans, of which 40 percent — or $275 million — are reverse mortgage cases.
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ISOCPR to host ‘Internet service delivery from the banking perspective’ forum
September 1, 2011
The Internet Society of Puerto Rico will sponsor its fourth forum of the year on Sept. 8, when executives from Banco Popular, FirstBank and Oriental Bank will discuss the topic of “Internet service delivery from the banking perspective.” The event will take place at Microsoft Corp.’s facilities at City View Plaza in Guaynabo, starting at 8 a.m.
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‘Golden Mile’ showing luster for 1st time since ’07
August 27, 2011
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.
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Doral Mortgage launches $1.5M ad campaign
May 25, 2011
Doral Mortgage, a division of Doral Financial Corporation, launched Wednesday a new $1.5 million multimedia advertising campaign to tout the benefits of its services. The bank chose local comedian Raymond Arrieta as spokesman of the campaign focused on the “knowledge and service make a difference in your mortgage experience” tagline. “Raymond Arrieta is a much-loved […]
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