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Difino
| • | This article is about a Puerto Rican bank. For the bank based in Spain, see: Banco Popular Español.
Popular, Inc. is a financial services company that has been operating in Puerto Rico for over 112 years, and in the United States for almost 52. In recent years it has expanded into the Caribbean and Central America. It is better known as Banco Popular, but it is also regarded as BPPR.
Popular, Inc. is the parent company of: Banco Popular de Puerto Rico, Banco Popular North America and Evertec.
The company, which started out as a simple Puerto Rican bank, was founded in 1893 and 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 70's 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 the Carrion patriarch's death, that Richard 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 was (and still is) intended to encourage children to open savings accounts and keep track of their money.
The following decade started with a big development for the bank, when it merged with Banco de Ponce in 1990. With this merger, Popular went an extra mile in the development of its domination in the Puerto Rican banking industry. At this time, Banco Popular de Puerto Rico changed its name to BanPonce.
During the 1990s, Banco Popular began to record live concerts with Puerto Rico's top singers as well as some international ones. The bank then sold the concert CDs and video tapes, adding another advertising channel, as well as raising money for their foundation (which benefits a variety of non-profit organizations of the island).
The bank still had a major development at hand, when it bought Banco Roigh (one of the main banks in the eastern side of the island). With this purchase, completed in the year 1997, the bank appro
Source: [wikipedia: popular, inc]
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