Popular Inc ( (BPOP) ) has released its Q1 earnings. Here is a breakdown of the information Popular Inc presented to its investors.
Popular, Inc., a leading financial institution in Puerto Rico, offers a range of banking services across Puerto Rico, the U.S., and the British Virgin Islands, with a strong presence in retail, mortgage, and commercial banking sectors.
In its first quarter of 2025 earnings report, Popular, Inc. announced a net income of $177.5 million, showing stability compared to the previous quarter. The company also reported an increase in net interest income and a slight rise in earnings per share, reflecting a generally positive financial performance.
Key highlights from the report include a net interest income of $605.6 million, an increase of $14.8 million from the previous quarter, and an improved net interest margin of 3.40%. Despite a decrease in non-interest income, the company maintained strong credit quality metrics with a reduction in non-performing loans and net charge-offs. Additionally, Popular, Inc. saw growth in loans and deposits, with deposit balances increasing by $934.9 million.
The company also engaged in capital actions, repurchasing 1.3 million shares of common stock, and reported a strong Common Equity Tier 1 ratio of 16.11%. These strategic moves indicate a focus on strengthening its financial position and shareholder value.
Looking ahead, Popular, Inc. remains optimistic about its ability to navigate the uncertain economic environment, leveraging its strong capital and liquidity levels. The company’s diversified business model positions it well to adapt to various macroeconomic scenarios, ensuring continued performance and growth.