Slide 1: Investor Presentation Third Quarter 2025
Exhibit 99.2 Investor Presentation Third Quarter 2025
Slide 2: Cautionary Note Regarding Forward-Looking Statements
Cautionary Note Regarding Forward-Looking Statements This presentation contains “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, including without limitation those regarding Popular’s business, financial condition, results of operations an
Slide 3: Q3 2025 Highlights
Q3 2025 Highlights Financial Highlights Quarter Highlights ($ in millions, except per share information) Income Statement Q3 2025 Q2 2025 Change Q3 2024 Highlights: Net Income $ 211 $ 210 $ 1 $ 155 • Net interest income increased $15 million to $647 million Net Interest Margin (NIM) 3.51% 3.49% 0.02
Slide 4: Business Highlights: BPPR and Popular U.S.
Business Highlights BPPR Popular U.S. ($ in millions) Q3 2025 Q2 2025 Change Q3 2024 ($ in millions) Q3 2025 Q2 2025 Change Q3 2024 Loans Held in Portfolio $ 27,131 $ 26,774 $ 357 $ 25,694 Loans Held in Portfolio $ 11,525 $ 11,380 $ 145 $ 10,469 P.R. Public Deposits 20,076 20,918 (842) 18,716 Total
Slide 5: New Strategic Framework
New Strategic Framework BE THE #1 BANK FOR OUR CUSTOMERS Meet customers where they are. We are their first choice, always one step ahead, fostering loyalty and deepening relationships at every stage of their lives, to drive growth BE SIMPLE AND EFFICIENT Deliver solutions faster, improve productivit
Slide 6: Financial Summary
Financial Summary Quarterly Results (unaudited) ($ in thousands, except EPS) Q3 2025 Q2 2025 Variance Net interest income $ 646,505 $ 6 31,549 $ 1 4,956 Provision for credit losses 7 5,125 48,941 2 6,184 Net interest income after provision for credit losses $ 571,380 $ 582,608 $ (11,228) Banking fee
Slide 7: Net Interest Income and NIM Dynamics
Net Interest Income and NIM Dynamics Quarter Highlights: Earning Assets 1 (ending balances, $ in billions) • Net interest income increased by $15 million to $647 million $72.8 $71.8 $70.8 $69.7 $68.0 • Net interest margin increased 2 bps to 3.51% 0.1 4 70.0 0 $38.2 $38.7 $37.3 ₋ Primarily driven by
Slide 8: Non-Interest Income
Non-Interest Income Change Q3 Quarter Highlights: 2025 vs • Strong performance and high levels of Q2 Q3 ($ in millions) Q3 2025 Q2 2025 Variance Q3 2024 customer transaction activity from our 2025 2024 diversified fee generating segments Service charges on deposits $ 39.1 $ 38.8 $ 0.3 $ 38.3 1% 2% •
Slide 9: Operating Expenses
Operating Expenses Change Q3 Quarter Highlights: 2025 vs • Operating expenses increased by $2.6 Q2 Q3 $ in millions Q3 2025 Q2 2025 Variance Q3 2024 million to $495 million 2025 2024 Salaries 139.3 132.8 $ $ $ 6.6 $ 136.0 5% 2% • Personnel costs increased by $3.6 million Commissions and incentives 3
Slide 10: Capital
Capital Popular, Inc. Quarter Highlights: Q3 2025 Q2 2025 • Common Equity Tier 1 Ratio of 15.79% decreased 12 bps mainly driven by common stock repurchases and changes in risk weighted assets due 0.2 to loan growth 0.1 8 0.1 6 17.58% 17.70% 1 0.1 4 • TCE Ratio of 7.13% vs. 6.81% in Q2 2025 15.91% 15
Slide 11: Non-Performing Assets
Non-Performing Assets Quarter Highlights: Non-Performing Assets • Non-Performing Assets increased $187 million ($ in millions) • Non-Performing Loans increased $190 million 600 0.04 $545 ₋ BPPR NPLs increased $196 million to $453 million 0.035 500 $444 $438 $435 $424 $412 $408 0.03 ₋ Popular U.S. NP
Slide 12: NCOs and Allowance for Credit Losses
NCOs and Allowance for Credit Losses Quarterly Highlights: • NCOs increased $16 million to $58 million, mainly in BPPR, driven by a $14 million charge-off related the $30 million commercial NPL inflow in Q3 2025. NCO Ratio increased 15 bps to 0.60% • ACL increased $17 million to $786 million, primar
Slide 13: Driving Value
Driving Value Market leader in Puerto Rico • Substantial capital and liquidity with diversified deposit base • Well-positioned to take advantage of market opportunities • Focused on customer service supported by broad branch network • Differentiated omnichannel experience • Diversified fee income Fr
Slide 14: 2025 Guidance
Guidance 2025 Guidance Q2 2025 Q3 Update Q3 2025 Commentary 10%-11% YoY growth driven by fixed asset Net Interest Income Unchanged Reaffirm Q2 guidance repricing, loan growth and deposit balances Higher end of guidance for the year based on Now expect $160 million-$165 million in Q4 and Non-Interest
Slide 15: Footnotes
Footnotes Slide 3: 1- Fully taxable equivalent (“FTE”) net interest margin represents a non-GAAP financial measure. See the Corporation's earnings press release, Form 10-Q and Form 10-K filed with the U.S. Securities and Exchange Commission for the applicable periods for the GAAP to non- GAAP reconc
Slide 16: Third Quarter 2025 Appendix
Investor Presentation Third Quarter 2025 Appendix
Slide 17: Corporate Structure Summary
Corporate Structure Summary Corporate Structure Franchise Industry Financial Services Headquarters San Juan, Puerto Rico Assets = $75 billion Assets $75 billion (among top 50 Popular Holding Co. BHCs in the U.S.) Banco Popular Popular’s North (including Popular de Securities Insurance America, equit
Slide 18: Q3 2025 vs. Q2 2025 Financial Results: BPPR and Popular U.S.
Q3 2025 vs. Q2 2025 Financial Results BPPR Popular U.S. (Unaudited) ($ in millions) Q3 2025 Q2 2025 Variance Q3 2025 Q2 2025 Variance Net interest income $ 551 $ 538 $ 13 $ 105 $ 102 $ 3 Provision for credit losses 74 42 32 2 6 (4) Net interest income after provision for credit losses 477 496 ( 19)
Slide 19: Loan Composition and Yields
Loan Composition and Yields Highlights: Loans Held-in-Portfolio Average Yield • Loans held in portfolio increased $502 (ending balances, million or 1.3%, compared to Q2 2025 $ in millions) Q3 2025 Q2 2025 Variance Q3 2025 (FTE) $ $ $ $ Commercial 19,289 19,090 199 19,229 6.72% ‐ The increase was pri
Slide 20: Deposit Composition and Costs
Deposit Composition and Costs Highlights: • Deposits at $66.5 billion in Q3 2025, with P.R. public deposits representing 30% of total deposits • Total deposit costs, excluding P.R. public deposits, demonstrate the stability of core deposits, low cost and low betas • Total cost of deposits at 1.79%,
Slide 21: Deposit Beta
Deposit Beta Highlights: • BPPR's retail and commercial accounts are low beta products and will react more slowly to changes in short-term interest rates • High beta P.R. public deposits represent 30% of the total deposits • P.R. public deposits are linked to market rates but respond with a lag to c
Slide 22: Investment Portfolio
Investment Portfolio Quarter Highlights: $ in millions Q3 2025 Variance to Q2 2025 Maturity • Conservative investment portfolio, with the majority Amortized % of Book Gain / Amortized Gain / 1 Description Cost Portfolio Value (Loss) Yield / WAL Cost (Loss) invested in short to intermediate U.S. Trea
Slide 23: Allowance for Credit Losses – Q3 2025
Allowance for Credit Losses – Q3 2025 ACL Movement: • Moody’s baseline forecast continues to assume a slowdown in economic activity for the U.S. in 2025 and 2026 • Changes in the forecast of certain employment variables contributed to higher reserves • Higher reserves related to the commercial portf
Slide 24: Non-Owner Occupied CRE Portfolio
Non-Owner Occupied CRE Portfolio Highlights: Non-Owner Occupied CRE • Non-Owner Occupied CRE (CRE NOO) credit quality ($ in millions) metrics include the impact of a $30.1 million increase in $5,521 $5,463 $5,541 $5,363 $5,185 non-performing loans (NPLs) and a $13.5 million in net 5,000 $2,227 $2,19
Slide 25: Multifamily Loan Portfolio
Multifamily Loan Portfolio Highlights: Multifamily Loans • 88% of the portfolio concentrated in Popular U.S. ($ in millions) $2,521 $2,521 • Strong credit risk profile with low levels of delinquency, $2,406 $2,400 $2,375 2,500 NCOs and classified loans: 1.4% $2,214 $2,187 $2,100 $2,092 $2,067 2,000
Slide 26: Auto Loan Portfolio
Auto Loan Portfolio Highlights: Delinquency Avg. 2011-2019 9/30/2025 ($in millions) • Improvements in credit quality of originations 6.17% 4.65% • Auto balances have steadily increased since the pandemic 4500 0.06 $3,862 $3,851 $3,819 $3,821 $3,820 $3,773 $3,707 4000 $3,661 $3,633 • Delinquency and
Slide 27: Auto Lease Portfolio
Auto Lease Portfolio Highlights: Delinquency Avg. 2011-2019 9/30/2025 ($in millions) • Auto lease balances have grown steadily since the 2.06% 1.83% 2500 0.06 pandemic $1,999 $1,983 $1,950 $1,925 0.05 $1,887 • Delinquency and NCO levels for the period remained 2000 $1,828 $1,765 $1,732 $1,698 below
Slide 28: Credit Card Portfolio
Credit Card Portfolio Highlights: Delinquency Avg. 2011-2019 9/30/2025 ($in millions) • Improvements in credit quality of originations 3.74% 4.01% • Balances continue to increase due to higher originations 1400 0.06 and increased usage post pandemic $1,226 $1,218 $1,215 $1,187 $1,188 $1,163 0.055 $1
Slide 29: P.R. Personal Loan Portfolio
P.R. Personal Loan Portfolio Highlights: Delinquency Avg. 2011-2019 9/30/2025 ($ in millions) • Credit quality of originations remains strong 3.61% 2.72% 200 0 0.06 • Portfolio balances have increased since the pandemic, but $1,823 $1,792 $1,776 $1,763 $1,754 $1,754 $1,756 $1,746 $1,745 180 0 at a s
Slide 30: P.R. Public Sector Exposure
P.R. Public Sector Exposure • Substantially all the Corporation’s direct exposure outstanding in Q3 were obligations from various Puerto Rico municipalities. As of September 30, 2025, our direct exposure outstanding to P.R. municipalities amounted to $342 million, decreasing by $20 million when comp
Slide 31: Popular's Credit Ratings
Popular’s Credit Ratings Senior Uns Senior Unsec ecur ured ed Ratings Ratings Fitch BBB- Stable Outlook S&P BB+ Stable Outlook Moody’s Ba1 Positive Outlook 2018 2019 2020 2021 2022 2025 April April June Moody’s Moody's Fitch upgrades upgrades to upgrades to B1 to BBB- from April September Ba3 from B
Slide 32: Third Quarter 2025
Investor Presentation Third Quarter 2025