Popular 8K Regulation FD Disclosure | BPOP 22 Oct 14

Investor Presentation

Third Quarter 2014

Exhibit 99.1

Forward Looking Statements

The information contained in this presentation includes forward-looking statements within the meaning of the

Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management’s

current expectations and involve risks and uncertainties that may cause the Company's actual results to differ

materially from any future results expressed or implied by such forward-looking statements. Factors that may

cause such a difference include, but are not limited to (i) the rate of growth in the economy and employment

levels, as well as general business and economic conditions; (ii) changes in interest rates, as well as the

magnitude of such changes; (iii) the fiscal and monetary policies of the federal government and its agencies; (iv)

changes in federal bank regulatory and supervisory policies, including required levels of capital; (v) the relative

strength or weakness of the consumer and commercial credit sectors and of the real estate markets in Puerto

Rico and the other markets in which borrowers are located; (vi) the performance of the stock and bond markets;

(vii) competition in the financial services industry; (viii) possible legislative, tax or regulatory changes; (ix) the

impact of the Dodd-Frank Act on our businesses, business practice and cost of operations; and (x) additional

Federal Deposit Insurance Corporation assessments. Other than to the extent required by applicable law, the

Company undertakes no obligation to publicly update or revise any forward-looking statement. Please refer to

our Annual Report on Form 10-K for the year ended December 31, 2013 and other SEC reports for a discussion of

those factors that could impact our future results. The financial information included in this presentation for the

quarter ended September 30, 2014 is based on preliminary unaudited data and is subject to change.

Q3 2014 Highlights

•

NPLs decreased by $18 million QoQ; ratio at 3.2%

•

NPL inflows, excluding consumer loans, down $24 million QoQ

•

NCOs of 0.83%

compared to 0.94% last quarter; decrease of $6 million

•

Reported adjusted net income of $91 million¹

•

Strong margins: Popular, Inc. 4.64%²

adjusted; BPPR 5.25%

Credit

(excluding

covered loans)

BPNA

Restructuring

Earnings

•

Completed TARP repayment on July 2, 2014 without raising additional equity

•

Robust

capital;

Tier

Common

Equity

ratio

14.8%

GAAP net income of $62.6 million. See appendix for reconciliation to GAAP.

Excludes

impact

$21

million

pertaining

repos

refinancing. US

GAAP

net

interest

margin

was

4.36%.

See

appendix

for

reconciliation

GAAP.

Excludes net write-downs related to BPNA’s legacy and classified assets sales.

Capital ratios for the current quarter are estimated.

Capital

•

Strategic focus in US going forward on NY metro and South Florida regions

•

Illinois and Central Florida transactions closed in Q3 2014; California on pace to

close in Q4 2014

•

US operational restructuring initiative on track; expected completion first half of

2015

Financial

Summary

(non-GAAP)¹

____________________

Unaudited. See Appendix for reconciliation to GAAP.

($ in thousands)

Q3 14

Q2 14

Variance

Net interest income

347,084

354,687

(7,603)

FDIC loss share expense

(19,910)

(55,261)

35,351

Other non-interest income

129,194

118,050

11,144

Gross revenues

456,368

417,476

38,892

Provision for loan losses – non-covered loans

56,216

50,074

6,142

Provision for loan losses – covered loans

12,463

11,604

859

Total provision for loan losses

68,679

61,678

7,001

Net revenues

387,689

355,798

31,891

Personnel costs

104,542

99,100

5,442

OREO expenses

19,745

3,410

16,335

Other operating expenses

178,063

168,355

9,708

Total operating expenses

302,350

270,865

31,485

Income from continuing operations before income tax

85,339

84,933

406

Income tax expense

3,610

10,400

(6,790)

Income from continuing operations

81,729

74,533

7,196

Income from discontinued operations, net of tax

8,809

11,634

(2,825)

Net income

90,538

86,167

4,371

BPNA Restructuring-Operational Reorganization

•

Strategic focus going forward on NY metro and South Florida regions

•

Illinois and Central Florida transactions closed in Q3 2014 for $26 million net gain

•

California on pace to close in Q4 2014

•

US operational restructuring initiative progress on track with expected completion

first half of 2015

Annualized cost savings of $40 million beginning in Q2 2015

Operational

Reorganization

Balance Sheet

Management

•

$221 million book value of legacy and classified assets at BPNA contracted to sell for

a net loss of $12 million

US region ended Q3 2014 with total NPLs of $30 million or less than 1% of

loans

•

$638 million in high cost repo funding refinanced in Q3 2014; blended cost over 4%

Total refinancing penalty of $40 million, split between Q3 and Q4 2014

Lower risk profile and smaller balance sheet to yield additional excess capital

Capital

*Averages

for

bank

holding

Companies

with

$50

billion

total

consolidated

assets,

consisting

firms included in Comprehensive Capital Analysis and Review (CCAR) and 11 firms included in Capital Plan

Review (CapPR). Source SNL Financial & FactSet.

•

Tier

Common

Equity

capital

ratio

14.8%

exceeds

current

CCAR

minimum

•

expect

remain

“well-capitalized”

under

Basel

III

rules

issued

the

Federal

Reserve

Capital

Ratios

14.8

16.9

18.2

11.2

10.7

12.4

14.6

8.8

Tier 1 Common

Tier 1 Capital

Total Capital

Tangible Common

Equity

BPOP Q3 2014

CCAR & CapPR Q2 2014 *

Capital ratios for the current quarter are estimated

Non-Performing Assets ($MM)

Non-Performing Assets

________________________________

NPLs metrics exclude loans held-for-sale and covered loans.

Credit quality remained stable

Non-Performing Loans ($MM)

956

1,142

852

866

1,026

1,101

1,293

1,500

2,084

2,245

2,402

2,448

2,539

2,623

2,489

2,314

2,277

2,254

2,365

2,311

2,178

2,120

2,002

1,419

992

944

932

956

943

2.4%

1.9%

2.1%

2.5%

2.7%

3.3%

4.0%

5.7%

6.3%

6.9%

7.2%

6.0%

6.4%

6.0%

5.8%

5.9%

6.3%

6.2%

5.9%

5.8%

5.5%

3.8%

2.7%

2.6%

2.8%

Q3 07

Q4 07

Q1 08

Q2 08

Q3 08

Q4 08

Q1 09

Q2 09

Q3 09

Q4 09

Q1 10

Q2 10

Q3 10

Q4 10

Q1 11

Q2 11

Q3 11

Q4 11

Q1 12

Q2 12

Q3 12

Q4 12

Q1 13

Q2 13

Q3 13

Q4 13

Q1 14

Q2 14

Q3 14

NPLs

OREO

NPL HFS

NPAs/Total Assets

•

NPAs, including covered loans, decreased by $12 million QoQ

•

NPLs, excluding covered loans, down $18 million QoQ

BPPR NPLs increased $18 million

Mortgage NPLs increased by $21 million

635

1,008

771

781

923

1,028

1,203

1,404

1,978

2,116

2,276

2,313

2,330

2,344

1,572

1,614

1,625

1,732

1,738

1,682

1,563

1,550

1,425

1,051

614

618

598

640

622

3.1%

2.8%

2.9%

3.5%

3.9%

4.7%

5.6%

8.0%

8.7%

9.6%

10.0%

10.4%

10.6%

7.6%

7.9%

8.4%

8.2%

7.6%

7.5%

6.8%

4.9%

2.9%

2.8%

2.9%

3.3%

3.2%

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%

14.0%

Q3 07

Q4 07

Q1 08

Q2 08

Q3 08

Q4 08

Q1 09

Q2 09

Q3 09

Q4 09

Q1 10

Q2 10

Q3 10

Q4 10

Q1 11

Q2 11

Q3 11

Q4 11

Q1 12

Q2 12

Q3 12

Q4 12

Q1 13

Q2 13

Q3 13

Q4 13

Q1 14

Q2 14

Q3 14

Mortgage

Commercial & Construction

Other

NPL/Loans (HIP)

Non-covered NPLs decreased $18 million

NPL HFS increased $15 million, related to US legacy and classified assets sales

OREOs decreased by $9 million

US operations NPLs declined $36 million QoQ

Mortgage and consumer NPLs down $12 million and $5 million, respectively,

mainly related to loans transferred to HFS

Commercial NPLs down $17 million, primarily loan resolutions

Mortgage NPL Inflows ($MM)

Total NPL Inflows ($MM)

NPL Inflows

•

Total NPL inflows down by $24 million, or 16% QoQ

Excludes consumer loans

NPL inflows continued a generally stable to improving trend

222

101

100

Q3 11

Q4 11

Q1 12

Q2 12

Q3 12

Q4 12

Q1 13

Q2 13

Q3 13

Q4 13

Q1 14

Q2 14

Q3 14

US Inflows

PR Inflows

175

232

187

166

157

167

110

105

Q3 11

Q4 11

Q1 12

Q2 12

Q3 12

Q4 12

Q1 13

Q2 13

Q3 13

Q4 13

Q1 14

Q2 14

Q3 14

US Inflows

PR Inflows

397

333

279

231

257

210

158

136

126

183

136

119

Q3 11

Q4 11

Q1 12

Q2 12

Q3 12

Q4 12

Q1 13

Q2 13

Q3 13

Q4 13

Q1 14

Q2 14

Q3 14

US Inflows

PR Inflows

________________________________

Metrics exclude covered loans. Differences due to rounding.

PR commercial inflows down $8 million, or 25%

PR mortgage NPL inflows down by $10 million,

or 9%

US total NPL inflows decreased by $6 million, or 40%,

mainly driven by commercial inflows

Commercial, Construction & Legacy NPL Inflows ($MM)

ALLL ($MM), ALLL-to-NCO and ALLL-to-NPL Ratios

NCO ($MM) and NCO-to-Loan Ratio

Provision ($MM) and Provision-to-NCO Ratio

Asset Quality

________________________________

Metrics exclude covered loans. Differences due to rounding.

135

126

108

101

163

200

2.64%

0.83%

1.49%

Q3 11

Q4 11

Q1 12

Q2 12

Q3 12

Q4 12

Q1 13

Q2 13

Q3 13

Q4 13

Q1 14

Q2 14

Q3 14

NCO

Bulk Sale Charge-offs

NCO%

Bulk Sale NCO%

151

124

149

169

111%

139%

Q3 11

Q4 11

Q1 12

Q2 12

Q3 12

Q4 12

Q1 13

Q2 13

Q3 13

Q4 13

Q1 14

Q2 14

Q3 14

PLL

Bulk Sale PLL

PLL/NCO

Bulk Sale PLL/NCO

693

690

665

649

636

622

584

529

526

538

543

526

522

128%

322%

40%

84%

Q3 11

Q4 11

Q1 12

Q2 12

Q3 12

Q4 12

Q1 13

Q2 13

Q3 13

Q4 13

Q1 14

Q2 14

Q3 14

ALLL

ALLL/NCO

ALLL/NPL

US legacy and classified assets related write-downs

amounted to $32 million

Provision increase of $18 million QoQ, includes $12 million

impact related loans transferred to HFS. Excluding this

impact, provision amounts to $56 million.

NCOs declined $6 million QoQ (excluding write-downs)

NCO ratio of 0.83% vs. 0.94% in Q2 2014

Provision to NCO of 139% (excluding write-downs impact),

compared to 108% in Q2 2014

ALLL decreased by $5 million QoQ; ALLL to loans at

2.69% vs. 2.68% in Q2 2014

$28 million reduction in the US; $20 million related to

loans transferred to HFS

$23 million increase in BPPR mainly due to qualitative factors

adjustments, reflective of challenging economic conditions

ALLL to NPL coverage ratio stable at 84% in Q3 2014 vs. 82%

in Q2 2014

PR Public Sector Exposure

•

Loans to the Government of Puerto

Rico and Public Corporations are either

collateralized loans or obligations that

have a specific source of income or

revenues identified for their

repayment.

•

Loans to various municipalities are

backed by unlimited taxing power or

real and personal property taxes

collected within such municipalities.

Our current direct exposure to the PR government, instrumentalities, and municipalities is $823 million, of which

approximately $727 million is outstanding, up $18 million from Q2 2014.

PR Central Government & Public Corporations

Municipalities

•

Indirect exposure includes loans or

instruments that are payable by non-

governmental entities and have a

government guarantee to cover any

shortfall in collateral in the event of

borrower default. Majority are single-

family mortgage related.

Indirect Exposure

($ in millions)

Loans

Securities

Total

Central Government ¹

Public Corporations

PRASA

100

101

PREPA

PRHTA

OTHER

Total Central Govt & Public Corp.

183

258

as % of Tier 1 Capital

6.8%

Municipalities

409

469

Direct Government Exposure

592

135

727

Indirect Exposure

313

362

_________________________________

Includes government sponsored banks and COFINA.

Driving Shareholder Value

Robust capital with Tier 1 Common Equity of 14.8%

TARP repayment and BPNA transactions move us toward a more active capital

management process

Unique franchise in PR provides strong, stable revenue-generating capacity

Continued stability in Popular’s credit metrics

EVTC ownership, BHD stake and restructured US operations

Capital

Additional

Value

Earnings

Investor Presentation

Third Quarter 2014

APPENDIX

Selected equity investments

(first two under “corporate”

segment and third and fourth under PR):

Who We Are –

Popular, Inc.

Franchise

•

Financial services company

•

Headquartered in San Juan, Puerto Rico

•

$34 billion in assets (among top 40 bank holding

company in the U.S.)

•

$22 billion in total loans

•

$24 billion in total deposits

•

245 banking branches serving customers in Puerto Rico,

New York, New Jersey, California, Florida, and U.S. and

British Virgin Islands

•

NASDAQ ticker symbol: BPOP

•

Market Cap: $3.05 billion

_____________________________________

Note: Information as of September 30, 2014

*Doing business as Popular Community Bank.

Summary Corporate Structure

Assets = $34.1 bn

Popular Auto,

Inc.

Banco

Popular

de Puerto Rico

Popular

Securities,

Inc.

Assets = $26.8 bn

Assets = $7.1bn

Banco Popular

North America*

Puerto Rico operations

Popular

Insurance,

Inc.

Popular North

America, Inc.

U.S. banking operations

Transaction processing,

business processes

outsourcing

14.8% stake

Dominican Republic

bank

15.82% stake

2013 approximate

net income $111

million

PRLP 2011 Holdings, LLC

24.9% stake

PR Asset Portfolio 2013-1

International, LLC

24.9% stake

Adjusted EBITDA of

$183.3 million for the

twelve months ended June

30, 2014

Construction and

commercial loans vehicle

Construction, commercial

loans and OREOs vehicle

Market Leadership in Puerto Rico

38%

37%

35%

42%

40%

39%

40%

24%

23%

22%

33%

34%

35%

36%

37%

2007

2008

2009

2010

2011

2012

2013

Q2 2014

Total Deposits (net of brokered)

Total Loans

Category

Market

position

Market

Total Deposits (Net of brokered)*

40%

Total Loans*

37%

Commercial & Construction Loans*

38%

Credit Cards¹

52%

Mortgage Loan Production¹

32%

Personal Loans*

31%

Auto Loans/Leases

17%

Assets Under Management

16%

Q2 2014

Source: Puerto Rico Office of the Commissioner of Financial Institutions, COSSEC, and 10K Reports.*Information included pertains to PR Commercial Banks and Credit Unions.

Mortgage loan production data is not publicly available; figures presented for BPPR and competitors were provided internally as well as credit card information for certain competitors.

Popular’s Market Share Trend

Puerto Rico Market Share by Category

GAAP Reconciliation Q3 2014

_____________________________________

* Unaudited.

Covered loans represent loans acquired in the Westernbank FDIC-assisted transaction that are covered under FDIC loss sharing agreements.

Total

basic

and

diluted

EPS,

including

discontinued

operations,

was

$0.60.

Excludes the impact of $21 million pertaining to US repos refinancing. US GAAP net interest margin was 4.36%.

(In thousands)

Actual

Results BPNA

(US GAAP)

Reorganization

Income Tax

Adjustments

Indemnification

Asset

Adjustment

Adjusted

Results

(Non-GAAP)

Net interest income (expense)

$ 326,421

$ (20,663)

$ -

$ 347,084

Provision

for

loan

losses

–

non-covered

loans

68,166

11,950

56,216

Provision

for

loan

losses

–

covered

loans ¹

12,463

Net interest income (expense) after provision for loan losses

245,792

(32,613)

278,405

FDIC loss share expense

(4,864)

15,046

(19,910)

Other non-interest income

129,194

Restructuring costs

8,290

Other operating expenses

302,350

Income (loss) from continuing operations before income tax

59,482

(40,903)

15,046

85,339

Income tax expense

26,667

20,048

3,009

3,610

Income (loss) from continuing operations

$ 32,815

$ (40,903)

$ (20,048)

$ 12,037

$ 81,729

Income (loss) from discontinued operations, net of tax

$ 29,758

$ 20,949

$ -

$ 8,809

Net income (loss)

$ 62,573

$ (19,954)

$ (20,048)

$ 12,037

$ 90,538

Basic and diluted EPS from continuing operations

0.31

Net interest margin

4.64%

Tangible common book value per common share

36.24

Market value per common share

29.44

Q3 2014 *

$ -

GAAP Reconciliation Q2 2014

_____________________________________

* Unaudited.

Covered loans represent loans acquired in the Westernbank FDIC-assisted transaction that are covered under FDIC loss sharing agreements.

Total

basic

and

diluted

EPS,

including

discontinued

operations,

was

($4.98).

Excludes the impact of $414.1 million TARP discount amortization. US GAAP net interest margin was (0.77%).

(In thousands)

Actual

Results

(US GAAP)

TARP discount

amortization

adjustments

BPNA

Reorganization

Adjusted

Results

(Non-GAAP)

Net interest (expense) income

$ (59,381)

$ (414,068)

$ -

$ 354,687

Provision

for

loan

losses

–

non-covered

loans

50,074

Provision

for

loan

losses

–

covered

loans

11,604

Net interest (expense) income after provision for loan losses

(121,059)

(414,068)

293,009

FDIC loss share expense

(55,261)

Other non-interest income

118,050

Restructuring costs

4,574

Other operating expenses

270,865

(Loss) income from continuing operations before income tax

(333,709)

(414,068)

(4,574)

84,933

Income tax (benefit) expense

(4,124)

(14,524)

10,400

(Loss) income from continuing operations

$ (329,585)

$ (399,544)

$ (4,574)

$ 74,533

(Loss) income from discontinued operations, net of tax

$ (181,729)

$ -

$ (193,363)

$ 11,634

Net (loss) income

$ (511,314)

$ (399,544)

$ (197,937)

$ 86,167

Basic and diluted EPS from continuing operations

(3.21)

Net interest margin

4.68%

Tangible common book value per common share

35.84

Market value per common share

34.18

Q2 2014 *

and Income Tax

Business Segments (GAAP)

___________________

Excludes discontinued operations.

Non-fully taxable equivalent.

($ in millions)

Financial Results

Q3 14

Q2 14

Variance

Q3 14

Q2 14

Variance

Net interest income

316

334

(18)

(23)

Non-interest income

(1)

Gross revenues

412

372

(24)

Provision for loan losses – non-covered loans

(12)

(25)

Provision for loan losses – covered loans

Total provision for loan losses

(12)

(25)

Operating expenses

245

223

Income tax expense (benefit)

(8)

Income (loss) from continuing operations

(9)

(12)

(63)

Income (loss) from discontinued operations, net of tax

(182)

212

Net income (loss)

(9)

(131)

149

($ in millions)

Balance Sheet Highlights

Q3 14

Q2 14

Variance

Q3 14

Q2 14

Variance

Total assets

26,765

27,647

(882)

7,133

8,299

(1,166)

Total loans ¹

18,567

18,684

(117)

3,624

3,784

(160)

Total deposits ¹

20,986

21,144

(158)

3,551

3,819

(268)

($ in millions)

Asset Quality (including covered assets)

Q3 14

Q2 14

Variance

Q3 14

Q2 14

Variance

Non-performing loans held-in-portfolio

607

590

(36)

Non-performing assets

871

860

(23)

Allowance for loan losses

579

565

(28)

Net interest margin ²

5.25%

5.50%

-0.25%

1.82%

3.25%

-1.43%

$ in millions

Q3 14

Q2 14

Q1 14

Q4 13

Q3 13

Loans Held in Portfolio (HIP)

$19,359

$19,635

$21,612

$21,427

Performing HFS

158

109

123

NPL HFS

Total Non Covered Loans

19,537

19,732

21,707

21,722

21,552

Non-performing loans (NPLs)

$622

$640

$635

$598

$618

Commercial

$252

$278

$307

$279

$316

Construction

$19

$22

$24

$29

Legacy

$12

$15

$24

Mortgage

$295

$286

$252

$233

$203

Consumer

$47

$43

$39

$44

$42

Leases

NPLs HIP to loans HIP

3.21%

3.26%

2.94%

2.77%

2.88%

Net charge-offs (NCOs)

$40

$46

$43

$35

$58

Commercial

$10

$11

$15

$21

Construction

($1)

($2)

($5)

Legacy

($1)

($5)

Mortgage

$13

$10

$13

Consumer

$27

$26

$28

$18

$27

Leases

Write-downs

$32

$20

NCOs to average loans HIP

0.83%

0.94%

0.80%

0.66%

1.08%

Provision for loan losses (PLL)

$56

$50

$47

$48

$55

PLL to average loans HIP

1.16%

1.02%

0.88%

0.89%

1.03%

PLL to NCOs

1.39x

1.08x

1.10x

1.35x

0.95x

Allowance for loan losses (ALL)

$522

$526

$543

$538

$526

ALL to loans HIP

2.69%

2.68%

2.51%

2.49%

2.46%

ALL to NPLs HIP

83.88%

82.26%

85.40%

90.05%

85.19%

Consolidated Credit Summary (Excluding Covered Loans)

Excluding provision for loan losses and net write-downs related to the classified and legacy assets sale

Numbers may not add to total due to rounding.

BPPR Commercial & Construction Distribution

Loan Composition (Held-in Portfolio)

De-risked Loan Portfolios

•

The Corporation has derisked its loan portfolios by

reducing its exposure in asset classes with

historically high loss content

•

In the BPPR commercial portfolio reductions

include:

Commercial portfolio, including construction,

has decreased from 55% of total loans held-

in-portfolio to 41%

Construction portfolio is down by 88% since

Q4 2007

SME lending is down by 55% from Q4 2007

•

Collateralized exposure now represents a larger

portion of consumer loan portfolio

•

Unsecured loans credit quality has improved as

overall FICO scores have increased

Small and Medium Enterprise

NCOs distribution represents the percentage allocation of NCOs

from Q1 2008 through Q2 2014 per each loan category

Legacy portfolio is comprised of certain commercial, construction and lease financings lending products exited by the US.

NCOs

($mm)

(%)

($mm)

(%)

($mm)

(%)

Distribution

(2)

CRE SME ¹

$2,938

33%

$1,497

23%

($1,441)

-49%

24%

C&I SME

2,287

25%

859

13%

(1,428)

-62%

29%

C&I Corp

1,592

18%

1,870

29%

278

17%

Construction

1,231

14%

149

(1,082)

-88%

37%

CRE Corp

892

10%

1,983

31%

1,091

122%

Multifamily

(4)

-6%

Total

$9,004

$6,419

($2,585)

-29%

100%

Q4 2007

Q3 2014

Variance

$ in millions

Q4 2007

Q3 2014

Q4 2007

Q3 2014

Q4 2007

Q3 2014

Variance

Commercial

$7,774

$6,270

$4,515

$1,789

$12,288

$8,059

($4,229)

Consumer

3,552

3,401

1,698

491

5,249

3,892

(1,357)

Mortgage

2,933

5,453

3,139

1,102

6,071

6,555

484

Construction

1,231

149

237

1,468

212

(1,256)

Leases

814

550

814

550

(264)

Legacy

2,130

(2,039)

Total

$16,304

$15,823

$11,718

$3,536

$28,020

$19,359

($8,661)

Puerto Rico

Total

Numbers may not add to total due to rounding

Popular, Inc. Credit Ratings

•

Our senior unsecured ratings have remained stable:

Moody’s:

Negative

Fitch:

BB-

Stable Outlook

S&P:

B+

Stable Outlook

•

May 2014: Moody’s downgraded BPOP to B2; outlook negative

•

February 2014: Moody's placed BPOP on review for downgrade

•

October 2013: Moody’s revised outlook to negative

•

January 2013: Fitch raised to BB-

from B+; outlook stable

•

December 2012: Moody’s downgraded BPOP to B1; outlook stable

•

April 2012: Moody’s placing most of the PR banks under review with the possibility

of downgrades, due to the state of the Puerto Rico economy

•

January 2012: Fitch raised BPOP’s outlook to positive

•

December 2011: S&P raised its ratings on BPPR to BB from BB-

and changed outlook to stable

given revised bank criteria to regional banks

Investor Presentation

Third Quarter 2014

Popular (BPOP) 8-KRegulation FD Disclosure