Popular reports Q1 EPS $2.56, consensus $2.18

Reports Q1 tangible book value per share $72.02. Reports Q1 CET1 capital ratio 16.11%. Ignacio Alvarez, CEO, said: “I am pleased with our strong financial performance in the first quarter. We increased net interest income, grew loans and deposits, maintained strong credit metrics and expanded our customer base. I am particularly pleased with our deposit growth. In Puerto Rico, excluding public deposits, deposits increased by $434 million, demonstrating the strength of our unique retail franchise. We also continued to invest in our people, technology and processes as part of our ongoing Transformation effort. The operating environment has undoubtedly become more uncertain and volatile, but our strong capital and liquidity levels, together with our diversified business model, position us well to perform in a variety of macroeconomic scenarios.”