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Dec 31, 2019
Popular Q4 2019 Earnings Report
Popular, Inc. reported increased net income due to growth in core earnings and strategic investments.
Key Takeaways
Popular, Inc. reported a net income of $166.8 million for Q4 2019, driven by solid business fundamentals and loan growth in Puerto Rico and the U.S., despite the negative impact of interest rate cuts on net interest income and margin.
Net income reached $166.8 million, slightly up from $165.3 million in the previous quarter.
Net interest margin was 3.83%, a decrease from 4.00% in the previous quarter.
Non-performing loans held-in-portfolio decreased by $30.0 million from the previous quarter.
The Corporation completed its previously announced $250 million accelerated share repurchase transaction.
Popular
Popular
Popular Revenue by Geographic Location
Revenue by Geographic Location
Puerto Rico Revenue
CapyFin.comUnited States Revenue
CapyFin.com Forward Guidance
The Corporation expects its consolidated effective tax rate to be within a range of 19% to 21% for the year 2020.