Popular Q1 2022 Earnings Report
Key Takeaways
Popular, Inc. reported a net income of $211.7 million for Q1 2022, compared to $206.1 million for the previous quarter. The corporation saw broad-based loan growth and maintained strong asset quality metrics.
Net income of $211.7 million in Q1 2022, compared to net income of $206.1 million in Q4 2021.
Net interest margin of 2.75% in Q1 2022, compared to 2.78% in Q4 2021.
Non-performing loans held-in-portfolio decreased by $28.0 million from Q4 2021.
Net charge-offs were $3.8 million, compared to a net recovery of $7.9 million in Q4 2021.
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Popular Revenue by Geographic Location
Forward Guidance
The corporation remains optimistic about the economic outlook, yet cognizant of the possible challenges to the macroeconomic environment resulting from the war in Ukraine, inflation and the evolving health situation.