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Home > About GDB > Gallery of Presidents

Gallery of Past Presidents

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Juan Labadie Eurite (1965-1969)

Juan Labadie Eurite presided over our Bank from 1964 to 1970. It was a period marked by an extraordinary growth in our economy, but neutralized by the first symptoms of the economic problems we would face in the following decade, the economic effects of the Vietnam War were already being felt. The Bank had to be bold and imaginative in facing the challenges of a financial situation that was rather unflattering. The municipalities (townships) weremost affected, many of them had no means to borrow due to the prevailing high interest rates at the time. Nevertheless, we were able to guarantee, with our funds, interim financings at interest rates lower than the prevailing market interest rates so that the municipalities would be able continue providing essential services to their residents. In addition, anticipating the long inflation period ahead, the Bank made a fierce defense of its capital to ensure its strength during that uncertain future.

Don Juan was always available to serve Puerto Rico and, in 1988, he returned to the Bank as advisor to the Mortgage Trust and the New Housing Operation, two programs administered by the Puerto Rico Housing Finance Corporation.

He died in San Juan on May 11, 1999.

 
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