1
                                                Filed pursuant to Rule 424(b)(2)
                                                Registration No. 33-61601-01


                   Pricing Supplement, dated March 25, 1996
                  to Prospectus dated September 27, 1995 and
                 Prospectus Supplement dated October 6, 1995
                                      
                              BANPONCE FINANCIAL
                                      
                             MEDIUM-TERM SERIES C
                                      
             Due From Nine Months to 30 Years From Date of Issue
                                      
             Payment of Principal, Premium, if any, and Interest
                                      
              Unconditionally Guaranteed by Banponce Corporation



PRINCIPAL AMOUNT....................................... U.S. $15,000,000.00
                                                       
                                                       
ORIGINAL ISSUE DATE.................................... March 25, 1996
                                                       
                                                       
MATURITY DATE ......................................... March 26, 2001
                                                       
                                                       
GLOBAL NOTE............................................ Yes
                                                       
                                                       
INITIAL INTEREST RATE.................................. 6.66%
                                                       
                                                       
INTEREST RATE BASIS.................................... Fixed
                                                       
                                                       
INDEX MATURITY......................................... N/A
                                                       
                                                       
SPREAD................................................. N/A
                                                       
                                                       
INTEREST RATE RESET PERIOD............................. N/A
                                                       
                                                       
INTEREST PAYMENT PERIOD................................ June 15, December 15
                                                        and at the 
                                                        maturity date.


The proceeds from the issuance of the Note to which this Pricing Supplement
relates will be used to finance Equity One, Inc.