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



BANPONCE FINANCIAL                                BANPONCE FINANCIAL CORPORATION
       CORPORATION                                C/O CT Corporation
                                                  1309 Oranage Street
                                                  Wilmington, Delaware 19801





May 13, 1996


VIA EDGAR

Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, DC 20549


                        BanPonce Financial Corporation
                             FORM TYPE: 424(B)(2)

I have enclosed with this letter, for filing pursuant to Rule 424(b)(2) under
the Securities Act of 1933, as amended (the "Act"), in accordance with
Regulation S-T, a copy of the Pricing Supplement dated May 13, 1996, to the
Prospectus dated September 27, 1995 and the Prospectus Supplement dated October
6, 1995.  Subject Pricing is related with the Registration Statements on Forms
S-3 (No. 33-61601-01) of BanPonce Financial Corporation.


Cordially,


/s/ Eric J. Pacheco
- -------------------
Eric J. Pacheco
Vice President

ges

Enclosure
   2
                    Pricing Supplement, dated May 13, 1996
                  to Prospectus dated September 27, 1995 and
                 Prospectus Supplement dated October 6, 1995


                        BanPonce Financial Corporation


                             MEDIUM-TERM SERIES C


             Due From Nine Months to 30 Years From Date of Issue

                       Unconditionally Guarantee as to

            Payment of Principal, Premium, if any, and Interest by

                             BANPONCE CORPORATION



PRINCIPAL AMOUNT .................................. U.S. $15,000,000.00

ORIGINAL ISSUE DATE................................ May 15, 1996

MATURITY DATE ..................................... May 17, 1999

GLOBAL NOTE ....................................... Yes

INITIAL INTEREST RATE ............................. 6.71%

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 BanPonce Financial Corporation Subsidiaries.