Company: BPOPM
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001193125-25-043848
Chunk: 46

Company: POPULAR, INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 1A
Chunk 46
---
 acts
of violence or
war, or
the fear that
such events 
could occur
in the
future, could
also adversely
impact our
operations and
financial results.
For example,
in 2020,
the COVID-19 
pandemic
severely
impacted
global
health,
financial
markets,
consumer
spending
and
global
economic
conditions,
and
caused 
significant disruption to businesses
worldwide, including our business
and those of
our customers, service providers
and suppliers. 
Future unforeseen or catastrophic events, and actions taken by governmental authorities and other third parties in response to such 
events, could
adversely affect
our operations,
cause economic
and market
disruption, adversely
impact the
ability of
borrowers to 
timely repay
their loans,
or affect
the value
of any
collateral held
by us,
any of
which could
have a
material adverse
effect on
our 
business, financial condition or results of operations. The frequency, severity and impact of future unforeseen or catastrophic events 
is
difficult
to
predict. While
we maintain
insurance against
natural disasters
and
other unforeseen
events, including
coverage
for 
business interruption, the insurance may not be sufficient to cover all of the damage from any such event, and there is
no insurance 
against the
disruption that
a catastrophic
event could
produce to
the markets
that we
serve and
the potential
negative impact
to 
economic activity. 

  29 
Climate change could have a material adverse
impact on our business operations and that
of our clients and customers. 
Our business and
the activities and
operations of our
clients and customers
may be disrupted
by global climate
change. 
Potential physical risks
from climate change
include the increase
in the
frequency and severity
of weather
events, such as
storms 
and
hurricanes,
and
long-term
shifts
in
climate
patterns, such
as
sustained
higher
and
lower
temperatures,
sea
level
rise,
heat 
waves
and
droughts,
among
others.
Our
geographic
concentration
in
localities,
including
Puerto
Rico,
the
U.S.V.I.,
B.V.I.
and 
Florida, particularly
suscept