Popular, Inc. Reports Q2 2026 Earnings with Strong Performance
Popular, Inc. (BPOP) reported a 15% sequential increase in earnings per share during the second quarter of 2026, driven by higher net interest income and strong fee generation. The company attributed its solid performance to favorable economic conditions in Puerto Rico, including robust tourism and infrastructure investment supported by federal funds. Popular also modernized over half of its retail branch network on the island to improve customer experience through digital self-service tools and personalized support. In addition, it expanded commercial capabilities with new cash management solutions that now account for nearly 50% of purchase volume. The company successfully resolved a $155 million nonperforming loan by charging off and selling the asset. Looking ahead, Popular raised its annual return on tangible common equity (ROTCE) target to between 14% and 17%. It expects net interest income growth of 8-9%, with public deposits projected to remain stable at $20 billion to $22 billion. The company also announced plans for additional stock repurchases under a new $1 billion authorization.
Tickers: $BPOP
Topics: banking branch_modernization commercial_services financial_performance