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Popular Inc. sells U.S. loan portfolio.(PUERTO RICO)
0 Comments | Caribbean Update, April, 2008
Popular, Inc. on March 4 announced the completion of the previously announced sale by its Equity One subsidiary of a significant portion of its U.S. consumer-finance loan portfolio to American General Finance, Inc. for about US$1.48 billion. "The closing of the transaction allows us to move forward with doing the things we have to do in the U.S.
mainland as we focus on our core banking franchise," said Richard L. Carrion, Chairman of the Board and CEO of Popular, Inc., a financial institution based in Puerto Rico with operations in Puerto Rico, the US, the Caribbean and Latin America.
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