Popular Inc.'s third-quarter loss narrowed on a giant prior-year impact from discontinued operations as weakness in Puerto Rico and the United States continued, and the sluggishness is expected to persist for some time.

"Third-quarter results still reflect the effects of a deepening recession and rising unemployment in Puerto Rico," Chairman and Chief Executive Richard L. Carrion said, adding that the bank's U.S. portfolio is still feeling the effects of job losses there. He expects the trends to continue for the foreseeable future.

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