Q3 2025 Popular Inc Earnings Call Transcript
Key Points
- Popular Inc (BPOP) reported a net income of $211 million and an EPS of $3.15, showing an increase from the previous quarter.
- The company achieved strong loan growth of $502 million, driven by commercial and construction lending.
- Net interest income increased by $15 million due to higher average deposit balances and disciplined deposit pricing.
- The company maintained stable customer deposit balances, with an increase in average balances by $793 million.
- Popular Inc (BPOP) is making progress towards its long-term objective of a 14% return on tangible common equity (ROTCE).
- Credit quality metrics were negatively impacted by two large commercial loans, leading to an increase in non-performing loans (NPLs) and net charge-offs.
- Ending deposit balances decreased by $704 million, despite the growth in average balances.
- The company faced a $13 million non-cash goodwill impairment in its US-based equipment leasing subsidiary.
- There was a $3.6 million increase in personnel costs due to salary increases and employee termination benefits.
- The allowance for credit losses increased by $17 million, driven by the impact of the two commercial exposures.
Hello, everybody, and welcome to the Popular, Inc. third-quarter 2025 earnings call. My name is Elliot, and I'll be coordinating your call today. (Operator Instructions)
I'd now like to hand over to Paul Cardillo, Senior Vice President, Investor Relations Officer. Please go ahead.
Good morning, and thank you for joining us. With us on the call today is our President and CEO, Javier Ferrer; our CFO, Jorge GarcÃÂa; and our CRO, Lidio Soriano. They will review our results for the third quarter and then answer your questions. Other members of our management team will also be available during the Q&A session.
Before we begin, I would like to remind you that during today's call, we may make forward-looking statements regarding Popular, such as projections of revenue, earnings, credit quality, expenses taxes and capital structure as well as statements regarding Popular's plans and objectives.
These statements are based on management's current expectations and are subject to risks
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