Two major Spanish banks with long-standing presence in Puerto Rico passed the European Banking Authority’s 2011 stress test of institutions in 21 countries, to assess their resilience against the current economic scenario.
The majority of Puerto Rico’s banks will remain closed today, in observance of Memorial Day, resuming operations Tuesday.
BBVA Puerto Rico, one of the few banks that has successfully weathered the island's protracted financial meltdown, is looking to increase its local market share to 10 percent over the next five years, a high-ranking official said Wednesday.