Banking group Popular cuts 2026 loan growth forecast to 2%
BPOP•Popular cut its 2026 loan growth forecast to 2% and expects annualized net charge-offs of 80-90 basis points. Third-quarter EPS rose 34% year over year to $4.21, while the company repurchased $179 million of common stock and raised its dividend by 20%.
1. Quarterly results
Popular reported third-quarter EPS of $4.21, up 34% year over year but down 3% from the prior quarter. Net interest income was $698.93 million, supported by increased income from investment securities and commercial loans. Net income was $266 million.
2. 2026 outlook
Popular cut its 2026 loan growth forecast to 2% and now expects annualized net charge-offs of 80-90 basis points. It expects net interest income to rise about 8.5% for the year. The company repurchased $179 million of common stock and raised its dividend by 20%.
