Banco Popular de Puerto Rico

What Banco Popular de Puerto Rico does

Banco Popular de Puerto Rico is the primary banking subsidiary of Popular, Inc. (NASDAQ: BPOP), a publicly traded financial holding company founded in 1917 and headquartered in San Juan, Puerto Rico. The bank operates a full-service retail and commercial banking franchise across Puerto Rico, the U.S. Virgin Islands, and the British Virgin Islands, distributing products through a physical branch network supplemented by digital banking channels including the Mi Banco Online platform and mobile features such as Retiro Móvil (cell-phone cash withdrawal) and Depósito Fácil Móvil (mobile check deposit). Revenue is generated primarily through net interest income on loans and deposits (Q1 2026 net interest income of $670.2 million, NIM of 3.66%), supplemented by banking fees and service charges, with the franchise also returning capital to shareholders via quarterly dividends ($0.75 per share) and share repurchases.

The company serves three primary customer segments: retail banking customers (deposits, payments, digital access), small businesses (commercial financing, the Nuestro Barrio seed-funding program in partnership with Universidad del Sagrado Corazón), and a specialized vertical — physicians and licensed healthcare professionals — addressed through the Popular Healthcare Hub launched in March 2026, which bundles commercial and mortgage financing with investment management, financial planning, and insurance products. Following the 2025 exit from the U.S. mortgage business, Banco Popular is refocusing on its Caribbean core, projecting 2026 loan growth of 3-4% and net interest income growth of 5-7%.

Operationally, the franchise demonstrates strong credit quality with non-performing loans at 1.17% of total loans ($458.1 million), a CET1 capital ratio of 15.92%, and Q1 2026 net income of $246 million (up 38% YoY). Full-year 2025 net income was $833 million (up 36% YoY). The bank has been named Bank of the Year Puerto Rico by The Banker magazine 13 times, most recently in 2025, and received a 2024 Americas regional recognition. Leadership includes Chairman and CEO Richard Carrion and President Javier Ferrer.

Name

Banco Popular de Puerto Rico

Legal name

Popular Inc.

Website

https://bancopopular.com

Company type

Public

Founded year

1917

Operating status

Operating

Short description

Banco Popular de Puerto Rico is the primary banking subsidiary of Popular, Inc. (NASDAQ: BPOP), serving retail customers, small businesses, and healthcare professionals across Puerto Rico, the US Virgin Islands, and the British Virgin Islands through branch and digital banking channels.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Commercial Banking (52211)

SIC

State Commercial Banks (6022)

akta.pro primary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

akta.pro secondary industry

SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC)

Keywords

• Retail banking services
• Commercial lending
• Digital banking
• Wealth management
• Healthcare banking

Headquarters

HQ city

San Juan

HQ country

Puerto Rico

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Net Interest Income: Interest income from loans and credit products minus interest paid on deposits. Primary revenue driver for the bank, generating $670.2 million in Q1 2026 with net interest margin of 3.66%
2. Banking Fees and Services: Fee income from various banking services including account maintenance, transactions, and advisory services
3. Capital Returns to Shareholders: Dividend payments to shareholders - quarterly dividend of $0.75 per share announced for Q1 2026

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Banco Popular de Puerto Rico is a financial institution offering retail and commercial banking services, including deposit accounts, lending products, digital and mobile banking, and investment and insurance products. The bank operates as the primary banking subsidiary of publicly traded Popular Inc. (NASDAQ: BPOP) and serves consumers, small businesses, and specialized segments such as healthcare professionals across Puerto Rico, the US Virgin Islands, and the British Virgin Islands.

Product overview

Banco Popular de Puerto Rico operates as a financial institution offering a unified banking platform centered on Mi Banco Online, its core digital banking channel. The product portfolio includes specialized vertical programs like Popular Healthcare Hub for physicians, mobile services such as Retiro Móvil (cash withdrawal via phone) and Deposito Fácil Móvil (mobile check deposit), and traditional banking services including commercial financing, mortgage financing, investment management, financial planning, and insurance products. The digital ecosystem enables customers to manage accounts, make payments, receive electronic statements, and access banking services across Puerto Rico and select U.S. territories.

Differentiator

Problem solved

Functional benefit

Brands

• Popular Healthcare Hub: A specialized banking program for physicians and licensed healthcare professionals designed to address financing, operational, and long-term planning challenges.

Products and services

• Mi Banco Online
• Popular Healthcare Hub
• Retiro Movil
• Deposito Facil Movil

Quantifiable outcome

• 38% year-over-year net income growth to $246 million in Q1 2026
• +2 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• Universidad del Sagrado Corazon (Sacred Heart University)coreStrategic or Co-development Partner · 7 April 2025Nuestro Barrio program partnership provides seed funding and support for small businesses in Santurce, Puerto Rico. Nine small businesses received $40,000 total in seed funding. The initiative supports business growth, improves operations, and strengthens the local economy across industries including restaurants, legal services, and media, promoting socioeconomic development.

Scale indicators12 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• Bank of America: Major US bank with retail and commercial presence in Puerto Rico. Competes with BPPR in retail deposits and lending, but at a national scale with broader capabilities and brand reach.
• JPMorgan Chase: Largest US bank with operations in Puerto Rico and across the Caribbean. Markets to similar retail and commercial clients but with a diversified national footprint and broader product suite, making it a broad incumbent rather than a direct niche competitor.
• Wells Fargo: Large diversified US bank with branches and digital banking in Puerto Rico. Competes with BPPR on retail and small business banking, but operates at a much larger scale across the US.
• PNC Financial Services: Top US bank with retail and commercial banking presence, including in Puerto Rico. Competes with BPPR on commercial lending and treasury services, but with a national franchise.
• US Bancorp: Major US regional bank with retail and commercial banking services. Comparable to BPPR on retail and SMB banking product offerings, though operating at scale across the US mainland.

Direct peers

• FirstBank Puerto Rico: One of the largest commercial banks operating in Puerto Rico, offering retail, commercial, and mortgage banking services. Direct competitor to BPPR for retail deposits, small business lending, and consumer banking across the island.
• Oriental Bank (OFG Bancorp): Puerto Rico-headquartered bank providing retail, commercial, and institutional banking services. Competes directly with BPPR in core deposit gathering, consumer lending, and small business banking across Puerto Rico.
• Scotiabank Puerto Rico: Subsidiary of Bank of Nova Scotia operating in Puerto Rico with retail and commercial banking. Competes with BPPR for retail deposits, mortgages, and commercial lending in the Puerto Rico market.
• Banco Santander Puerto Rico: Puerto Rico subsidiary of Banco Santander, offering consumer and commercial banking products. Direct competitor to BPPR in retail deposits, lending, and wealth management in Puerto Rico.
• Citibank Puerto Rico: Puerto Rico operations of Citigroup offering retail, commercial, and wealth management services. Competes with BPPR for premium retail and high-net-worth clients in Puerto Rico.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/popular
• Facebookfacebook.com/popular

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments7 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Banco Popular de Puerto Rico