Popular Q3 2024 Earnings Report
Key Takeaways
Popular, Inc. reported a net income of $155.3 million for the quarter ended September 30, 2024. The results reflected an increase in net interest income, offset by a higher provision for credit losses. Credit quality trends remained stable, and capital continues to be a source of strength.
Net income was $155.3 million, compared to $177.8 million in Q2 2024.
Net interest income increased to $572.5 million, up by $4.2 million from the previous quarter.
Credit quality metrics remained stable, with consumer portfolios showing increased delinquencies but remaining below pre-pandemic levels.
The Corporation repurchased 599,096 shares of common stock for $58.8 million, at an average price of $98.11 per share.
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Popular Revenue by Segment
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%.