Popular, Inc. (NASDAQ:BPOP) has unveiled its unaudited financial performance for the quarter ended December 31, 2024, through a recent Form 8-K filing with the Securities and Exchange Commission. The Puerto Rico-based financial corporation released a press statement on January 28, 2025, outlining its outcomes for the mentioned quarter, showcasing positive trends in various financial areas.
In the detailed filing, Popular highlighted that their **net income reached $178 million**, reflecting a substantial growth of $23 million compared to the prior quarter. This surge in profitability was attributed to a boost in net interest income coupled with a reduction in provision for credit losses. Popular’s ventures in the financial sector paid off as evident in their financial statements.
The regulatory filing highlighted the company’s strategic moves, such as their conference call presentation to discuss the financial results for the quarter ended December 31, 2024. Notably, Popular, Inc. made significant progress through the year with a **quarterly common stock dividend increase from $0.62 to $0.70 per share** and an announcement of a **$500 million common stock repurchase authorization** in Q3 2024.
Popular’s venture into various sectors, encompassing Puerto Rico and mainland U.S. banking operations, proved beneficial, with continued loan growth strategies evident from the financial statements. The corporation’s financial resilience was reaffirmed through diversified fee income streams and strong risk-adjusted loan margins. Adoption of technological modernization and a customer-centric growth approach further highlighted Popular, Inc.’s commitment to sustainable profitability.
The financial analysis provided insight into Popular’s credit quality metrics which remained steady, affording investors a sense of the company’s prudent risk management practices. The document showcased Popular’s devotion to enhancing their service through a combination of traditional banking practices with a modern, digital omnichannel approach.
The financial disclosures further underlined Popular, Inc.’s fiscal prudence through detailed insights into the credit card, auto loans, auto leases, and multifamily loans portfolios. The quarter’s results exemplified the firm’s adeptness in managing diverse financial products and offering growth opportunities across various consumer segments.
Popular, Inc.’s financial outcomes for the fourth quarter of 2024 demonstrate a successful period marked by revenue expansion, enhanced profitability, and shrewd financial management across its portfolio.
**This article is based on information from an 8-K filing by Popular, Inc.**
This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Popular’s 8K filing here.
Popular Company Profile
Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services in Puerto Rico, the United States, and the British Virgin Islands. The company provides savings, NOW, money market, and other interest-bearing demand accounts; non-interest bearing demand deposits; and certificates of deposit.
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