Banco Popular Overview: Banco Popular is the principal operating unit of Popular, Inc., which was founded in 1893 and is headquartered in Hato Rey, Puerto Rico. It has branches in these states:
- New York
- New Jersey
- Florida
- Illinois
- Texas
- California
Banco Popular has these principal lines of business:
- Commercial and retail banking
- Equipment finance
- Insurance and investment services
- E-loan
- Small Business Administration (SBA) financing
Size: Banco Popular reports these figures as of 12/31/07:
- Assets = $44.4 billion
- Percentage of assets from the U.S. = 38%
- Employees = 12,303
- Branches (U.S.) = 147
- Branches (Puerto Rico) = 196
- Branches (U.S. Virgin Islands) = 8
- Non-banking offices = 282
- Customers = over 500,000
Positives: Banco Popular ranks among the top 40 U.S. bank holding companies in assets. Banco Popular has particular expertise in SBA (Small Business Administration) lending, where it ranks in the top 5.
Banco Popular has been cited by various national and local publications in their surveys of best places to work.
Negatives: Banco Popular's main market niche in the U.S. is serving Hispanic populations, though it welcomes customers of all ethnic backgrounds. While Banco Popular does not explicitly mention Spanish language skills as a hiring criterion (undoubtedly for EEO reasons), the lack thereof may be an impediment to advancement. On the other, because of its target market, people with Spanish language skills are very much in demand by Banco Popular.
