Banks of Puerto Rico - Popular, Inc. (Paperback)

Chapters: Popular, Inc.. Source: Wikipedia. Pages: 44. Not illustrated. Free updates online. Purchase includes a free trial membership in the publisher's book club where you can select from more than a million books without charge. Excerpt: Popular, Inc., is a financial services conglomerate that has been operating in Puerto Rico for over 115 years, and in the United States for almost 52. In recent years it has expanded into other areas of the Caribbean and Central America. It is better known as Banco Popular, but it is also known as BPPR for Banco Popular de Puerto Rico. Popular, Inc. is the parent company of Banco Popular de Puerto Rico, Banco Popular North America, Evertec, E-Loan, and several other companies. World Headquarters are based in San Juan, Puerto Rico, on Milla de Oro in Hato Rey. The headquarters of Banco Popular North America are located in Rosemont, Illinois. The bank was founded in Puerto Rico in 1893 when the island was still under Spanish administration, and was led in its early stages by Rafael Carrion, Sr. During the 1970s, the company's commercials were very popular on Puerto Rican television: they presented a balding, middle aged man in a white tee shirt, announcing the company in a comic way. The 1970s also saw a giant step in the development of Banco Popular as Puerto Rico's biggest bank, when it bought two-thirds of the Banco de Credito y Ahorro Ponceno. By buying this bank, Popular entered the credit-card industry. During the following decades, Banco Popular put a lot of emphasis on the company's public image. It was during the 1980s, after Rafael Carrion, Sr.'s death, that Richard L. Carrion took over as President of the corporation. In 1989, the bank introduced a children's savings service with a bear, "Populoso," as its mascot. The Club del Ahorro (or Savings Club) was (and still is) intended to encourage children to open savings accounts and keep track of their money. The following decade sta...More: http: //booksllc.net/?id=21656