Popular, Inc.: Update to credit analysis
Our credit view of Popular, reflecting its high capitalization and strong liquidity, offset by its sectoral and geographic lending concentrations.Popular is a financial holding company. Through its subsidiaries, the company is a financial institution based in Puerto Rico. The company operates in two principal markets: Puerto Rico, which provides retail, mortgage, and commercial banking services through its principal banking subsidiary, Banco Popular de Puerto Rico, as well as auto and equipment leasing and financing, investment banking, broker-dealer and insurance services through various subsidiaries; and Mainland United States, which provides retail, mortgage and commercial banking services through its New York-chartered banking subsidiary, Popular Bank, which has branches in New York, New Jersey and Florida.
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