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Mar 31, 2024
Popular Q1 2024 Earnings Report
Popular, Inc. reported solid earnings for Q1 2024, benefiting from a stable deposit base and increased net interest income.
Key Takeaways
Popular, Inc. reported a net income of $103.3 million for Q1 2024. The results reflect a solid earnings performance, with a 3% increase in net interest income and an expansion of the net interest margin by eight basis points. Credit quality remained stable during the quarter.
Net income for Q1 2024 was $103.3 million.
Net interest income increased by $16.6 million compared to Q4 2023.
Net interest margin increased to 3.16% compared to 3.08% in Q4 2023.
Credit quality remained stable with trends similar to recent periods.
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Popular Revenue by Geographic Location
Forward Guidance
The Corporation expects its ETR for the year 2024 to be within a range from 21% to 23%.