Overview of financial institutions in Puerto Rico

Banks in Puerto Rico are part of the U.S. Banking system, through a few differences in taxes laws. The Office the the Commissioner of Financial institutions of Puerto Rico supervises and regulates the territory’s financial ar to certain its safety and also soundness and also guarantee strictly adherence to every applicable laws and regulations.

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According to Moody’s, the outlook because that the territory’s three significant banks is stable, as the rating firm believes the the banks’ current strong capitalization and liquidity provide them with heightened resilience come weather Puerto Rico’s economic challenges.

The challenges include continued public ar austerity measures, a sectorial and geographically-concentrated island economy, and much more recently, the financial disruption resulted in by the coronavirus pandemic. The outlook also reflects a long-term consolidation tendency of the island’s banking sector, leading to greater operating spare part for continuing to be banks.

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For anyone considering a job in bank in Puerto Rico, this list of the top banks in the region is a valuable guide on whereby to start. To learn more, watch our list of financial institutionsCompaniesLists the the main players in that company finance. We"ve gained lists of the most necessary financial services companies, banks, institutions, accounting firms, and corporations in the industry. Browse this guides come prepare because that a job in financial services and start networking this day to accelerate your career.

The Top financial institutions in Puerto Rico are:

FirstBank

Founded in 1948, FirstBank Puerto Rico operates together a subsidiary of very first Bancorp. Headquartered in san Juan, the bank provides retail, commercial, and also corporate banking products and also services. FirstBank Puerto Rico was previously known as very first Federal Savings bank and adjusted its surname to FirstBank Puerto Rico in November 1994. FirstBank operates 73 branches in Puerto Rico and has 3,317 employees.

Net income: USD 102.27 million (2020)

Total assets: USD 19.41 billion (3/2021)

Banco Popular

Banco popular was produced in 1893 and is headquartered in Hato Rey. The financial institution provides various retail and also commercial banking services. Together of December 31, 2020, it operated a retail banking franchise comprising 172 branches and also 619 automatically teller devices (ATMs) in Puerto Rico; 8 branches in the United says Virgin Islands; 1 branch in the brother Virgin Islands; and also 1 branch in brand-new York, as well as 23 ATMs in the british Virgin Islands.

Net income: USD 506.62 million (2020)

Total assets: USD 66.87 billion (3/2021)

Oriental Financial team (OFG Bancorp)

Oriental Financial team was created in 1964 and is headquartered in san Juan. The team offers a variety of financial services in Puerto Rico and also the state that Florida with its four wholly-owned subsidiaries: asian Bank, eastern Financial solutions Corp., asian Insurance Inc., and Caribbean Pension Consultants (CPC) Inc.

Net income: USD 74.33 million (2020)

Total assets: USD 10.15 billion (3/2021)

Bancolombia Puerto Rico Internacional

Founded in 1997, Bancolombia Puerto Rico Internacional offers financial solutions for international individuals and legal entities. It is based in san Juan and also operates together a subsidiary the Bancolumbia S.A.

Net income: USD -4.56 million (2020)

Total assets: USD 826.28 million (2020)

Banco Santander

Banco Santander started its work in 1976 with the purchase of the first National bank of Puerto Rico. Headquartered in san Juan, the financial institution offers an individual and advertising banking services on the island. That was previously known as Banco De Santander-Puerto Rico and changed its name to Banco Santander Puerto Rico in November 1989. That operates together a subsidiary that Santander BanCorp.

As the 2016, the full assets the the financial institution were US$5 billion, and also net profit was US$15 million.

Citibank NA (Puerto Rico)

Founded in 1918, Citibank NA (Puerto Rico) operates together a subsidiary of Citibank nationwide Association. Based in san Juan, it to be the an initial of the phibìc American financial institutions in Puerto Rico.

FEMBi Mortgage

FEMBi Mortgage was founded in 1997 and also is headquartered in san Juan. The group provides mortgage and also home financing services throughout southern Florida and Puerto Rico.

Pentagon Federal credit Union

Pentagon Federal credit transaction Union operates together a credit transaction union that provides financial products and services to its members. It serves personnel from the Army, air Force, coastline Guard, maritime Corps and Navy, room of homeland Security, DoD personnel, VFW, their household members, and others worldwide. PenFed credit Union Puerto Rico is a branch of Pentagon Federal credit transaction Union.

The team offers credit transaction cards, including rewards, armed forces and simple cards, and auto loans. It likewise provides mortgages, residence refinancing solutions, house equity loans, auto and also other an individual loans, checking and savings accounts, certificates of deposit, and IRAs.

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Additional Resources

This has actually been CFI’s guide to the top financial institutions in Puerto Rico. Because that anyone in search of a job in banking, this perform is a good place to begin your networking. Please also see these additional resources: