Banco Popular de Puerto Rico Rafael Carrión Sr.

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art deco bppr headquarters building


carrión presided , led bank until 1956. under leadership bank established first physical branch in 1934. in first year bank provided personal loans without requiring collateral. made bank enormously popular (in accordance name) and, 1954, bank had 20 branches in different parts of island. represented growth rate of 1 new banco popular branch every year of existence, between 1934 , 1954. given challenges of great depression, world war ii, , korean war, success , growth rate astounding.


during great depression, bank survived while others failed. in 1930, banco popular purchased oldest , respected banking institution on island, banco comercial de puerto rico. total of $8.82 million in deposits in 1937, banco popular became largest bank in puerto rico. in 1938, became first bank in puerto rico offer fha mortgage loans. in 1939, carrión completed construction of art deco headquarters bank, on tetuán street in old san juan.


carrión stock holder in continental bank of new york , when institution merged chemical bank & trust co. in 1948, became member of chemical s board of directors. retired in 1956 , leadership positions occupied sons rafael jr. , joe carrión. in 1990, grandson (son of rafael jr.) richard carrión named chairman of board , chief executive officer of company, bank, popular north america, inc. , subsidiaries.








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