Popular sells US finance operations.(PUERTO RICO)

0 Comments | Caribbean Update, March, 2008

Popular, Inc. on Jan. 23 announced the signing of an Asset Purchase Agreement to sell certain assets of Equity One, the US mainland consumer finance operations of Popular Financial Holdings, to American General Finance, Inc., a member of American International Group. The Agreement contemplates the sale of a significant portion of Equity One's mortgage loan and consumer loan portfolio for about US$1.5 billion, said Board Chairman/CEO Richard L.

Carrion. Popular, Inc. is Puerto Rico's leading financial institution, with over 300 branches and offices, offering retail and commercial banking services through Banco Popular de Puerto Rico, and auto and equipment leasing and financing, mortgage loans, consumer lending, investment banking, broker / dealer and insurance...

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