News about Popular

Popular (BPOP) reported third-quarter net income of $266 million, up 26% from a year earlier, with diluted EPS of $4.21. Net interest income reached $699 million, supported by higher income from investment securities and commercial loans, while total deposits fell $1.5 billion to $68.7 billion mainly due to lower Puerto Rico public sector balances. The bank cut its full-year 2026 loan growth guidance to 2% from 3% to 4%, citing lower auto and lease activity. Nonperforming loans rose to a 1.16% ratio from 1.04%, while the company raised its quarterly dividend 20% to $0.90 per share and repurchased $179 million of stock.