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What are some large banks in Puerto Rico?

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Quick Answer

Large banks in Puerto Rico include Banco Popular and FirstBank. Other banks operating on the island include the large American bank Citibank, Spanish banks Banco de Santander and BBVA, and Canadian bank Scotiabank.

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With 222 branches in Puerto Rico as of 2015, Banco Popular is the island's largest bank, having operated on the island since 1893. It is known as Popular Community Bank in Florida, New York and New Jersey in the mainland United States, where it has operated for more than 50 years. The bank also has operations in the U.S. Virgin Islands and the Dominican Republic. Its parent company, Popular Inc., is a financial services conglomerate that also operates E-Loan, Popular International Bank and other companies.

Founded in 1948 as First Federal, FirstBank started as a savings and loan association before becoming a commercial bank in 1994. It operates 52 branches on the island as of 2015 and also has operations in Florida and the U.S. Virgin Islands. It is a subsidiary of First BanCorp.

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