Banco de Ponce was one the largest banks in Puerto Rico. In 1990 it merged with Banco Popular creating Puerto Rico's largest bank. At this time, Banco Popular's holding company changed its name to BanPonce Corporation. Banco de Ponce had established an agency in New York that it had converted to a branch in 1961. At the time of the merger, Banco de Ponce had nine branches in New York to Popular's six. When Banco de Ponce merged with Banco Popular the new bank became one of the top ten commercial banks in Latin America and one of the top fifty banks in the United States of America.[1]
The bank was founded on August 20, 1917, in Ponce, Puerto Rico, by Mario Mercado, Amador Torres, Manuel Meiriño, Augusto Quiñones, Francisco Oliver, Antonio Morales, Juan Colón, José de Jesús, Francisco Forteza y Cándido Noriega. [2]