<TABLE> <S> <C>

<ARTICLE> 9
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FINANCIAL STATEMENTS OF DORAL FINANCIAL CORPORATION FOR THE SIX MONTHS ENDED
JUNE 30, 1998, AND IT IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH
FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               JUN-30-1998
<CASH>                                           9,071
<INT-BEARING-DEPOSITS>                               0
<FED-FUNDS-SOLD>                               163,898
<TRADING-ASSETS>                               682,036
<INVESTMENTS-HELD-FOR-SALE>                    514,077
<INVESTMENTS-CARRYING>                         155,128
<INVESTMENTS-MARKET>                           157,278
<LOANS>                                        751,150
<ALLOWANCE>                                      3,015
<TOTAL-ASSETS>                               2,497,356
<DEPOSITS>                                     376,304
<SHORT-TERM>                                 1,542,766
<LIABILITIES-OTHER>                            125,692
<LONG-TERM>                                    206,361
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          8
<COMMON>                                        40,485
<OTHER-SE>                                     205,740
<TOTAL-LIABILITIES-AND-EQUITY>               2,497,356
<INTEREST-LOAN>                                 20,856
<INTEREST-INVEST>                               42,384
<INTEREST-OTHER>                                 2,766
<INTEREST-TOTAL>                                66,006
<INTEREST-DEPOSIT>                               7,496
<INTEREST-EXPENSE>                              41,947
<INTEREST-INCOME-NET>                           16,563
<LOAN-LOSSES>                                      311
<SECURITIES-GAINS>                              23,055
<EXPENSE-OTHER>                                 24,804
<INCOME-PRETAX>                                 27,687
<INCOME-PRE-EXTRAORDINARY>                      27,687
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    24,101
<EPS-PRIMARY>                                     0.60
<EPS-DILUTED>                                     0.58
<YIELD-ACTUAL>                                    2.08
<LOANS-NON>                                      3,358
<LOANS-PAST>                                    53,568
<LOANS-TROUBLED>                                     0
<LOANS-PROBLEM>                                  1,432
<ALLOWANCE-OPEN>                                 1,241
<CHARGE-OFFS>                                       58
<RECOVERIES>                                        27
<ALLOWANCE-CLOSE>                                1,325
<ALLOWANCE-DOMESTIC>                               311
<ALLOWANCE-FOREIGN>                                  0
<ALLOWANCE-UNALLOCATED>                              0
        

</TABLE>