Popular, Inc. Announces Fourth Quarter 2019 Financial Results

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Go back to Popular, Inc. Announces Fourth Quarter 2019 Financial Results

Popular (BPOP) Tops Q4 EPS by 15c

January 28, 2020 8:01 AM EST

Popular (NASDAQ: BPOP) reported Q4 EPS of $1.72, $0.15 better than the analyst estimate of $1.57.

Ignacio Alvarez, President and Chief Executive Officer, said: 2019 was an outstanding year during which we achieved record core earnings. During the year, we increased EPS and TBV by 14% and 17%, respectively, and grew our customer base in Puerto Rico by 45,000, reflecting the strength of our franchise.

While we exhibited strong performance throughout the year, the results for the fourth quarter reflected the cumulative impact of the three recent interest rate cuts. The reduction in rates negatively impacted our net... More