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.
Banco Santander de Puerto Rico recently received the U.S. Small Business Administration’s platinum award for its participation in the agency’s loan guarantee program for the Puerto Rico/U.S. Virgin Islands region.
The majority of Puerto Rico’s banks will remain closed today, in observance of Memorial Day, resuming operations Tuesday.
The State Insurance Fund recently signed off on a $242 million loan from Banco Santander Puerto Rico to refinance a prior loan that was in default and for ongoing improvements planned at the government agency.
For the fourth time in the past five years, Banco Santander Puerto Rico has landed a spot on the list of “Best Emerging Market Banks in Latin America,” a ranking published by the editors of Global Finance magazine that includes 23 countries in Central and South America and the Caribbean.
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