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 CORP.
                                      
                             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. $5,000,000.00
                                                       
                                                       
ORIGINAL ISSUE DATE.................................... March 27, 1996
                                                       
                                                       
MATURITY DATE ......................................... March 29, 1999
                                                       
                                                       
GLOBAL NOTE............................................ Yes
                                                       
                                                       
INITIAL INTEREST RATE.................................. 6.34%
                                                       
                                                       
INTEREST RATE BASIS.................................... Fixed
                                                       
                                                       
INDEX MATURITY......................................... N/A
                                                       
                                                       
SPREAD................................................. N/A
                                                       
                                                       
INTEREST RATE RESET PERIOD............................. N/A
                                                       
                                                       
INTEREST PAYMENT PERIOD................................ Semi Annually:
                                                        June 15 and December 15.


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