Popular (BPOP +12.2%) soars after earnings, though nearly the entire beat was due to a $27M after-tax gain from the bank's interest in EVERTEC (CC transcript). Improving credit performance was key as the bank saw its largest decline ($125M) in nonperforming loans for this cycle. Importantly, notes CFO Richard Carrion, the decline was done without the assist of a bulk loan sale.
Popular (BPOP +12.2%) soars after earnings, though nearly the entire beat was due to a $27M...
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