On Jan. 17, Banco Popular (NASDAQ:BPOP) released fourth-quarter earnings for the period ended Dec. 31, 2006.

  • Net income dropped 54%, primarily because of weak nonprime mortgage operations and unfavorable economic conditions in Puerto Rico.
  • The company took some charges as it tries to restructure its U.S. consumer finance business.
  • Non-performing assets rose to 1.7% of total assets.
  • Income Investor recommendation Banco Popular carries a three-star rating in Motley Fool CAPS.

(Figures in millions, except per-share data)

Income Statement Highlights

4Q 2006

4Q 2005

Change

Total Revenue

$457.4

$524.5

(12.8%)

Net Interest Income

$360.3

$361.4

(0.3%)

Net Profit

$59.6

$130.2

(54.2%)

EPS

$0.20

$0.47

(57.4%)

Get back to basics with a look at the income statement.

Ratio Checkup

Q4 2006

Q4 2005

Change*

Net Interest Margin

3.27%

3.23%

0.04%

Efficiency Ratio

No Data

No Data

No Data

Nonperforming Assets / Assets

1.70%

1.30%

0.40%

Return on Average Assets

0.50%

1.07%

(0.57%)

Return on Average Equity

6.20%

15.66%

(9.46%)

*Expressed in percentage points.

Find out more about bank performance ratios.

Balance Sheet Highlights

Assets

Q4 2006

Q4 2005

Change

Investments*

$10,600

$12,700

(16.5%)

Loans

$32,737

$31,710

3.2%

*Includes investment and trading securities.

Liabilities

Q4 2006

Q4 2005

Change

Deposits

$24,438

$22,638

8.0%

Total Liabilities

$43,679

$44,881

(2.7%)

Learn about bank assets and bank liabilities.

Related Companies:

  • W Holdings (NYSE:WHI)
  • R&G Financial (NYSE:RGF)
  • Doral Financial (NYSE:DRL)
  • First Bancorp (NYSE:FBP)
  • Mercantile Bank (NASDAQ:MBWM)

Related Foolishness:

To see why Banco Popular is so popular with Income Investor subscribers, you can take a 30-day free trial of the newsletter. Doral Financial is a former Inside Value pick.

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