Popular Inc., parent company of Banco Popular de Puerto Rico, reported net income of $262.6 million for the quarter ended March 31, 2021, compared to net income of $176.3 million for the quarter ended December 31, 2020. “We got off to a strong start in 2021, earning $262.6 million in the quarter, and are optimistic […]
A long-time executive is retiring and is being succeeded at Popular Inc., while two executive appointed at a credit card company and the Puerto Rico Junior Chamber of Commerce are featured in this edition of Climbing the Corporate Ladder. Rullán to retire from Popular Inc.; González-Noguera to succeed herTeruca Rullán, senior vice president in charge […]
https://media.blubrry.com/dollarsandsensenewsismybusines/newsismybusiness.com/wp-content/uploads/2021/01/Ignacio-Alvarez-01.28.2021.mp3Podcast: Play in new window | DownloadSubscribe: Apple Podcasts | RSSPopular Inc. reported net income of $176.3 million for the fourth quarter ended Dec. 31, 2020, and $506.6 million for the year 2020, compared to net income of $671.1 million for the year 2019. “We closed 2020 on a high note, generating net income of […]
Popular Inc. announced it is now receiving Paycheck Protection Program applications from commercial customers and nonprofit organization, following an additional $284 billion in program funding from the U.S. Congress. Applications will be serviced throughout Popular’s three geographic regions, including Puerto Rico, the US Virgin Islands and the mainland United States, the bank said. “Since the […]
Popular Inc. reported net income of $168.4 million for the quarter ended Sept. 30, 2020, up from net income of $127.6 million for the quarter ended June 30, 2020, but flat when compared to the $164.3 million reported during the third quarter in 2019. “We generated $168.4 million in earnings in the third quarter, reflecting […]
Popular Inc., parent company of Banco Popular de Puerto Rico, reported net income of $127.6 million for the quarter ended June 30, 2020, a 25% drop from the $171.1 million on record for the same quarter in 2019, but a significant jump from the $34.3 million reported for the first quarter of the year. For […]
Popular Inc. has sold a 180,000-square-foot building, known as Caparra Center, to Triple-S Management Corporation through a private deal that keeps the price tag under seal. “We’re viewing this transaction as a private one. However, the acquisition of this 180,000-square-foot building will allow us to have the additional space to respond to our growth in […]
Popular Inc. announced the completion of its $500 million accelerated common stock repurchase transaction announced for 2020. The completion came earlier than expected, as the counterparty in the transaction exercised its right under the agreement to implement the early termination date clause when the trading price of Popular’s common stock fell below a specified level […]
As part of its social commitment to Puerto Rico and in response to the public health emergency caused by COVID-19, Popular recently donated $1 million to entities whose priorities include the acquisition of medical equipment and care of the homeless, as well as support for small and medium-sized companies and scientific research. Similarly, funds have […]
Popular Inc. announced that as of May 1st, it had processed more than $1.2 billion in loans under the second round of the U.S. Small Business Administration’s Paycheck Protection Program. The loans have benefited 16,397 small- and medium-sized businesses that employ more than 235,000 people, the bank said. Of the total, $1.05 billion were granted […]
Banco Popular de Puerto Rico has received a total of 127,000 moratorium applications, split between auto, personal and mortgage loans, Popular Inc. CEO Ignacio Álvarez confirmed. Of that number, 100,000 are in its own portfolio, and the remaining 27,000 are mortgage loans owned by third-parties such as Fannie Mae, Freddie Mac and the Federal Housing […]
Banco Popular announced the approval and disbursement of the first loans granted by the institution under the Paycheck Protection Program established by the Coronavirus Aid, Relief, and Economic Security Act (CARES). The program went into effect on April 3 and will run through June 30. On Friday, Popular approved some $2.6 million in loans and, […]
Popular Inc. reported net income of $166.8 million for the quarter ended Dec. 31, 2019, compared to net income of $165.3 million for the quarter ended Sept. 30, 2019. In the report, Banco Popular de Puerto Rico’s parent company, confirmed it generated net income of $671.1 million for the year 2019, compared to net income […]
Popular Inc. announced it will carry out common stock repurchases of up to $500 million and an increase in its quarterly common stock dividend from $0.30 per share to $0.40 per share, starting in the second quarter of 2020. “We are pleased to announce our proposed capital actions for 2020 which are in line with […]
Raging Capital Management, LLC, a long-term shareholder of Popular Inc. (BPOP) said in a letter delivered to the institution’s board of director that the bank is “significantly undervalued” ad urges adopting a $1 billion stock repurchase plan. In the letter signed by William C. Martin, chairman and chief investment officer of Raging Capital Management, LLC, […]
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