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Jun 30, 2024
Popular Q2 2024 Earnings Report
Popular's Q2 2024 financial results were announced, showcasing increased net income and improved credit quality.
Key Takeaways
Popular, Inc. reported a net income of $177.8 million for Q2 2024, driven by higher net interest income and lower provision for credit losses. Credit quality remained stable with improved metrics and the company announced a 13% increase in the quarterly common stock dividend and a $500 million common stock repurchase authorization.
Net income reached $177.8 million, a notable increase from $103.3 million in Q1 2024.
Net interest income increased to $568.3 million, up by $17.6 million compared to the previous quarter.
Credit quality remained stable, featuring decreased non-performing loans and net charge-offs.
A 13% increase in the quarterly common stock dividend and a $500 million common stock repurchase authorization were announced.
Popular
Popular
Forward Guidance
The Corporation expects its ETR for the year 2024 to be within a range from 21% to 23%.