Several days after downgrading Puerto Rico's general obligation bond rating to Ba2, or junk, Moody's Investors Service placed on review for downgrade certain ratings of three local banks: Banco Santander Puerto Rico, Popular Inc. and FirstBank Puerto Rico.
Banking industry magazines The Banker, part of the Financial Times group, and Private Banker International have named Santander Private Banking “Best Private Bank in Latin America 2013.” The Banker also classified Santander’s units in Spain and Mexico as “Highly Commended” — or finalists — in the “Best Private Bank 2013” category, the financial institution announced Thursday.
Banco Santander Puerto Rico reported a profit for the third quarter of 12 million euros and 64 million through September, an increase of 69.8 percent year-over-year.
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