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The $36.8 billion-asset bank earned $597.5 million in the second quarter, compared to a loss of $511.3 million a year earlier. Earnings per share were $5.80.
July 24 -
Popular in San Juan, Puerto Rico, has made a few changes to its management team.
September 29 -
After scaling back its U.S. operations, Popular Inc. plans to focus on niche commercial lending markets, including financing for elder care and assisted living facilities.
June 26
Popular in San Juan, Puerto Rico, reported higher third-quarter profits, as an increase in mortgage banking and lower operating costs.
The $35.5 billion-asset bank's
Net interest income, after a provision for loan losses, rose 15.6% to $284.1 million. The net interest margin narrowed by 25 basis points to 4.39%.
Noninterest income rose 5.5% to $131.1 million, as income from mortgage banking activity rose 67.4% to $24.2 million.
Noninterest expense fell 1.2% to $306.9 million. Personnel costs increased significantly but were partially offset by sharp declines in taxes and other real estate owned expenses.
