Popular's Evolution
Popular's Evolution
Popular has been evolving constantly since it was founded over a century ago. From a small bank it has developed into a large Corporation that offers a great variety of financial products and services, with a presence in the United States, the Caribbean and Latin America. Following is our timeline of service:
  • 1893: The Banco Popular de Economías y Préstamos was founded on October 5th, to serve those most in need.
  • 1923: Changes its name to Banco Popular de Puerto Rico.
  • 1924-1933: Banco Popular begins its transformation from a savings to a commercial bank. During this period, the first personal loans are offered in Puerto Rico without collateral.
  • 1934: Banco Popular begins the expansion of its network of branches with openings in Río Piedras and Santurce.
  • 1938: The first FHA loan is granted in Puerto Rico.
  • 1939: Opening of the Banco Popular building in Old San Juan, considered at the time the tallest in the Caribbean.
  • 1951: The novel mobile branch is launched to offer banking services to Puerto Rico’s rural areas.
  • 1961: The first Banco Popular branch is opened in the United States, in the Bronx, New York.
  • 1965: Opening of the Popular Center, the first financial center in Puerto Rico, located in San Juan.
  • 1965-1973: During this period, Banco Popular rose to occupy a position among the top 100 banks in the United States.
  • 1976: Inauguration of Cupey Center
  • 1978: Acquisition of  Banco Crédito y Ahorro Ponceño.
  • 1981: Banco Popular extends its services to the Virgin Islands region.
  • 1984: Banco Popular establishes the network of automated teller machines in Puerto Rico.
  • 1988: Telephone banking services are developed for Banco Popular customers, and the customer services program is created.
  • 1990: Banco Popular merges with the second largest bank in Puerto Rico, Banco de Ponc. Assets almost double to the sum of around $10,000 million. With the merger, we began operating as the main subsidiary of BanPonce Corp.
  • 1992: The bank becomes the number one lender in the United States offering Small Business Administration (SBA) loans.
  • 1993: Celebration of Popular’s first century.
  • 1993: Expansion of Banco Popular in the United States with the acquisition of four branches of Back Leumi Trust Company and Emigrant Savings Bank
  • 1995: ATH Dominicana, the ATM network in the Dominican Republic is established.
  • 1996: Popular Leasing, U.S.A. is established and www.popular.com is launched.
  • 1997: Popular, Inc. is created and Banco Roig is acquired.
  • 1999: Popular acquires GM Group to enter  transaction processing  business.
  • 2000: Popular becomes one of the 33 largest financial institutions of the United States.
  • 2004:Banco Popular North America announced the closing of two acquisitions: Quaker City Bankrp (QCB), of Whittier, California.
  • 2004: EVERTEC, a company specializing in processing electronic transactions is created.
  • 2004: Popular leaders open the NASDAQ session in a historic event for the Corporation.
  • 2005: Popular is included in the list of the 100 Best Companies to Work For in the prestigious FORTUNE magazine.
  • 2005: Popular makes important acquisitions such as E-LOAN, a direct online lender to individuals, and ScanData, a provider of Items processing services.