Government Development Bank for Puerto Rico

Description

Government Development Bank for Puerto Rico, together with its subsidiaries, operates as a fiscal agent and financial advisor for the Commonwealth of Puerto Rico. It is involved in the financial structuring of infrastructure, housing, municipal, education, and health related projects. The company offers deposits, such as interest-bearing demand accounts, special government deposit accounts, and time deposits; and zero balance accounts, loans, and certificates of deposit. It also provides Internet, checks data, window deposits, government banking reconciliation reports, lockbox, check collection, and cash management services, as well as electronic banking services. In addition, the company offers mortgage loans to developers for the construction, improvement, operation, and maintenance of rental and for-sale housing for low to moderate income families, as well as for citizens of low and moderate income; mortgage loan insurance program; housing subsidy programs; and disposes repossessed properties. Further, it provides financing for private businesses, central government agencies, and the development of hotel industry; recruits candidates to work in the public sector, as well as trains new government employees in public financing and economic related fields; and endorses scientific research and professional development in the fields of finance, accounting, economy, and public administration. Government Development Bank for Puerto Rico was founded in 1942 and is based in San Juan, Puerto Rico.

Tags:

Financial Research, Banking Finance Company, Research Development, Mortgage Banking Services, Credit Card Loans, Management Research, Industry Research