Financial Times’ The Banker Magazine Names Popular “Bank of the Year Puerto Rico”

Banco Popular de Puerto Rico has been named 'Bank of the Year Puerto Rico' by The Financial Times' The Banker magazine for the twelfth time.

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12/05/2024 - 10:38 AM EST

SAN JUAN, Puerto Rico--(BUSINESS WIRE)-- Popular, Inc. (NASDAQ: BPOP) announced that Banco Popular de Puerto Rico has been recognized as “Bank of the Year Puerto Rico” by The Financial Times’ international banking magazine The Banker. This marks the twelfth time Popular has received this prestigious recognition.

The Banker stated that Popular was selected for its transformative corporate purpose, “Putting People at the Center of Progress,” which is displayed by focusing on financial inclusion and entrepreneurial support, while continuing to develop innovative products and programs. Select initiatives highlighted for their innovation include Emprende Con Popular, which aids entrepreneurs through tailored financing and resources and the launch of SimpleCredit for streamlined small business loans.

The Banker also highlighted Popular’s $300 million technology spend and the company’s efforts to fund affordable housing and renewable energy projects which further underscore Popular's commitment to economic and environmental sustainability.

“Popular is committed to driving banking innovation that empowers customers, employees, and communities, while supporting Puerto Rico’s entrepreneurship and sustainable economic growth,” said Ignacio Alvarez, CEO of Popular, Inc. “We’re proud of our employees’ dedication to helping Puerto Ricans achieve their financial goals. By investing to stay at the forefront of technology, we ensure reliable, safe, and innovative banking platforms to enable a unique customer experience and continues to put people at the center of progress.”

Recognized as the industry standard for banking excellence, The Banker’s Bank of the Year award is contested by the world’s leading financial institutions, with winners chosen across Africa, Asia-Pacific, Central & Eastern Europe, Latin America, the Middle East, North America, and Western Europe. The financial intelligence magazine was founded in 1926 and provides international bank ratings. The Banker made awards in 127 countries and received more than 400 submissions. According to the publication, the awardees, trailblazers from across the global banking industry, have proven their mettle in the face of serious economic headwinds and market volatility during the past year, developing innovative products and services, modernizing their infrastructure, and delivering bottom line results. This marks the 26^th year of the awards.

About Popular, Inc.

Popular, Inc. (NASDAQ: BPOP) is the leading financial institution in Puerto Rico, by both assets and deposits, and ranks among the top 50 U.S. bank holding companies by assets. Founded in 1893, Banco Popular de Puerto Rico, Popular’s principal subsidiary, provides retail, mortgage and commercial banking services in Puerto Rico and the U.S. Virgin Islands. Popular also offers in Puerto Rico auto and equipment leasing and financing, investment banking, broker-dealer, and insurance services through specialized subsidiaries. In the mainland United States, Popular provides retail, mortgage and commercial banking services through its New York-chartered banking subsidiary, Popular Bank, which has branches located in New York, New Jersey, and Florida.