Popular Inc Posts $246M Q1 Net Income, $155M Buybacks and 5% Card Purchase Growth
Popular Inc Q1 net income was $246 million with EPS of $3.78, supported by $155 million of share repurchases and a $0.75 per share dividend. The company boosted its credit loss allowance by $16 million, saw a 5% rise in card purchases and expects 2026 loans to grow at 3%-4%.
1. Q1 Financial Results
Popular Inc delivered net income of $246 million and earnings per share of $3.78, while tangible book value per share rose to $84.98 (up $2.33). Non-interest income reached $166 million and return on tangible common equity improved to 15.5% from 14.4%.
2. Capital Returns and Dividends
The company repurchased $155 million of common stock during the quarter and maintained its quarterly dividend at $0.75 per share, underscoring a continued commitment to returning capital to shareholders.
3. Asset Quality and Loan Growth Guidance
Allowance for credit losses increased by $16 million due to higher reserves in the commercial portfolio and specific telecommunications borrower reserves, ending loan balances were essentially flat, and 2026 consolidated loan growth is expected at the low end of the original 3% to 4% range.
4. Digital Innovation and Card Usage
Popular launched an integrated marketplace within its Mi Banco digital app to enhance customer engagement and merchant offers, while combined credit and debit card purchases by Banco Popular customers rose 5% year-over-year.