Popular Q2 2023 Earnings Report
Key Takeaways
Popular, Inc. reported a net income of $151.2 million for the quarter ended June 30, 2023. The company saw growth in loan portfolios in both Puerto Rico and the United States, which maintained net interest income despite higher deposit costs. The deposit base remained strong and well-diversified, and results were bolstered by positive credit quality trends and healthy non-interest income.
Net income was $151.2 million, compared to $159.0 million in the previous quarter.
Net interest margin was 3.14%, compared to 3.22% in the previous quarter.
Loans increased by $692.5 million from the prior quarter.
Ending deposit balances increased by $3.1 billion from the prior quarter.
Popular
Popular
Popular Revenue by Geographic Location
Forward Guidance
The Corporation expects the ETR for the year 2023 to be within a range from 22% to 25%