Popular Q1 Earnings Top Estimates on Higher NII, Expenses Decline Y/Y

BPOP’s Q1 results were supported by higher net interest and fee income, along with lower expenses. Those positives were partly offset by declining loans and elevated credit provisions, leaving the overall read mixed but modestly constructive for earnings quality.

Analysis

BPOP’s Q1 results were supported by higher net interest and fee income, along with lower expenses. Those positives were partly offset by declining loans and elevated credit provisions, leaving the overall read mixed but modestly constructive for earnings quality.