Puerto Rico's Biggest Bank Added 40,000 Accounts Since Hurricane
Pedestrians walk past a Banco Popular de Puerto Rico (BPPR) branch in Old San Juan, Puerto Rico, in 2015.
Photographer: Derick E. Hingle/Bloomberg
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Popular Inc. has added 40,000 accounts since Hurricane Maria as it benefited from rivals’ retrenchment, Chief Executive Officer Ignacio Alvarez said.
The lender saw an influx of customers from other financial institutions that closed branches after the storm, Alvarez said Wednesday at a 125th anniversary event for the bank in San Juan.