During the first weeks of April, FirstBank resumed its "Hecho con Éxito, Hecho con FirstBank" program aimed at supporting the island’s small business segment’s operations after Hurricane María, the bank announced.
As a result of Hurricane María’s strike last year, the 135 homes at the Luchetti community in Yauco were completely flooded, and 35 percent of those homes are still inhabitable.
In a market where population is steadily declining, the economy has contracted and the fiscal situation has been in a downward spiral, it has become a challenge for financial institutions to keep their deposit levels growing.
FirstBank, the second leading financial institution of Puerto Rico, is reasserting its commitment to the island’s economic growth by formalizing a strategic alliance with the largest and most technologically advanced meeting complex in the Caribbean, the Puerto Rico Convention Center.
FirstBank, as part of its commitment to provide assistance to disadvantaged communities, has destined a donation to the Martín Peña Recicla organization, for the recycling of mobile phones, to provide assistance to seven families from the G8 communities at the Martín Peña Channel who suffered damages to their homes after the passage of Hurricane María.
First BanCorp. reported net income of $24.2 million for the fourth quarter of 2017, or $0.11 per diluted share, compared to a net loss of $10.8 million, or $0.05 per diluted share, for the third quarter of 2017 and net income of $23.9 million, or $0.11 per diluted share, for the fourth quarter of 2016.
FirstBank, through its Property Donation Program, announced the transfer of the ownership of 1,973 square meters of land in Rincón, to the Siembra Vida foundation.
Motivated by a commitment to help communities most affected by Hurricane María, a group of FirstBank employee volunteers organized a collection of more than 1,500 non-perishable items which they distributed to homes in Comerío and Cataño.
FirstBank has joined Boys and Girls Clubs of Puerto Rico as a sponsor of the nonprofit’s Innovation and Entrepreneurship Program and the Digital Fab Lab located at the club's site in Isabela.
FirstBank recently conducted the first of five talks on how to financially prepare for a natural disaster to 30 students from the School of Technical Studies at Metropolitan University-Bayamón, the bank announced.
First BanCorp., the bank holding company for FirstBank Puerto Rico, reported a net loss of $10.8 million for the third quarter of 2017 compared to net income of $24.1 million for the third quarter of 2016.
Seeking to help with Puerto Rico’s recovery efforts after the passage of Hurricane María, FirstBank under its “One for All” program, joined Liberty Puerto Rico on the Liberty Wi-Fi Tour, an initiative to deliver assistance to the most affected municipalities on the island.
Five weeks after Hurricane María pummeled Puerto Rico, about 72.6 percent of local bank branches, or 228, have resumed operations, according to data from the Office of the Financial Institutions Commissioner.
Hurricane María’s devastating impact on Puerto Rico could eventually ring positive for the island’s economy, which has been crippled by a 12-year recession and the recent catastrophic storm.
Two of the island’s major banks, Banco Popular and FirstBank, stepped up Tuesday to help consumers during the hurricane-invoked emergency, offering three-month moratoriums a number of payments, including on mortgages and credit cards.
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