Popular Q4 Profit Soars - Quick Facts

(RTTNews) - Popular Inc. (BPOP) reported a sharp rise in fourth-quarter net income applicable to common stock to $162.1 million, or $1.57 a share, from $83.0 million, or $0.81 a share, in the prior-year period.

Net interest income after provision for loan losses totaled $319.71 million for the latest tri-monthly period.

On average, 5 analysts polled by Thomson Reuters expected earnings per share of $0.64, on $358.62 million revenues for the quarter. Analysts' estimates typically exclude one-time items.

Chairman of the Board and Chief Executive Officer, commented: "The earnings for the fourth quarter demonstrate how the strength of our franchise continues to produce positive results even in a challenging operating environment. Over the last few years, we have executed a number of strategic initiatives that have improved our operational and financial metrics and will position us to further increase profitability once the economy in Puerto Rico begins to improve."