If the two banking consolidations currently underway in Puerto Rico materialize, after the dust settles, the trio of big financial institutions that will be left will “compete fiercely” for the local market, Popular Inc. CEO Ignacio Álvarez said. While Oriental is moving forward on its acquisition of Scotiabank’s assets in a deal that should close […]
Popular Inc., parent company of Banco Popular de Puerto Rico, reported net income of $171.1 million for the quarter ended June 30, 2019, compared to net income of $167.9 million for the quarter ended March 31, 2019. But when compared quarter-to-quarter, the financial institution revealed a 39% drop this quarter when compared to the same […]
Doing the work of promoting Puerto Rico beyond its shores is an important task, but the island must continue working on its structural issues so that it becomes a place where doing business works, said Ignacio Álvarez, CEO of Popular Inc. during a recent sit-down with the media. “You can sell something, but if after […]
Popular Inc. closed 2018 with significant year-over-year increases in its net and adjusted income, according to its quarterly earnings report. For the 12-month period ended Dec. 31, 2018, adjusted net income was $487 million, up 76 percent from the prior year’s adjusted net income of $276 million. Net income for 2018 totaled $618.2 million, a […]
Popular Inc. had a busy third quarter, with the closing of its acquisition of Wells Fargo’s auto finance business in Puerto Rico.
Puerto Rico, which has been facing long-standing structural problems now has a “unique opportunity” to tackle them, Popular Inc. CEO Ignacio Álvarez said during an earnings call to disclose first quarter results.
Three of Puerto Rico’s main banks — Banco Santander Puerto Rico, Popular Inc. and FirstBank Puerto Rico — banks can absorb further asset quality stress resulting from Puerto Rico’s recession for at least two more years, Moody’s Investors Service said in a report released Thursday.
At a time when major construction projects in Puerto Rico are at a standstill, Popular Inc. is moving forward with its $30 million Urban Hub project in Hato Rey, where several pieces were installed over the weekend.
Encouraged by the progress shown by its U.S. mainland operation and by the strength of its Puerto Rico franchise, Popular Inc. reported Monday net income of $85 million for the first quarter ended Mar. 31, 2016, compared to net income of $137.4 million and an adjusted net income of $98.3 million for the quarter ended Dec. 31, 2015.
High-ranking Popular Inc. executives were in this city this week to inaugurate the new headquarters for its Popular Community Bank business in North America, with expectations that the operation will generate more than $100 million in revenue over the next two or three years.
The heads of the island’s two largest banks took turns in recent days expressing their concerns about the current fiscal scenario and whether political leaders are willing to make the right decisions to put Puerto Rico’s economy back on track.
Popular Inc. reported net income of $52.9 million for the quarter ended Dec. 31, 2014 on Thursday, when CEO Richard Carrión told analysts that the bank’s “strong market position, significant liquidity, excess capital levels and internal capital generation will continue to be key to our future performance.”
Fitch Ratings announced Thursday it completed a peer review of three rated Puerto Rican banks, and affirmed the long-term “Issuer Default Ratings” for Doral Financial Corp. at 'C' and Popular Inc. at 'BB-' and First BanCorp at 'B-.'
Popular Inc. announced Tuesday its banking subsidiary, Banco Popular de Puerto Rico, received the prestigious “Bank of the Year Puerto Rico for 2014” award from The Banker, an international banking magazine published by The Financial Times.
Popular Inc. announced Monday that Popular Community Bank, its U.S. banking subsidiary, completed the previously announced sale of its California regional operations to Banc of California, National Association a wholly owned subsidiary of Banc of California Inc.
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