Company: BPOPM
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001193125-25-043848
Chunk: 11

Company: POPULAR, INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 1
Chunk 11
---
second
half
of
2022
which
continued
during
2024.
The
needs
and
expectations
of
our
clients,
as
well
as
the
competitive 
landscape,
have evolved,
compelling
us to
make important
investments
in our
technological
infrastructure
and adopt
more agile 
practices.
During
2024,
the
Corporation
made
meaningful
progress
in
the
modernization
of
our
customer
channels
and 
enhancement
of
our
customers'
experience.
The
Corporation
believes
these
investments
will
result
in
an
enhanced
digital 
experience
for
our
clients,
as
well
as
better
technology
and
more
efficient
processes
for
our
employees,
and
make
us
a more 
efficient
and
profitable
company.
The
Corporation
had
anticipated
to
reach
a target
of
14%
return
on
tangible
common
equity 
(ROTCE)
by
the
fourth
quarter
of
2025.
However,
due
to
a
variety
of
drivers,
including
the
impact
of
the
shift
to
higher-cost 
deposits
in
2024,
and
lower
than
expected
loan
growth
in
the
U.S.,
the
Corporation
now
expects
to
achieve
at
least
a
12% 
ROTCE by the
end of 2025.
Our technology
and business
transformation
will be a
significant
priority for
the Corporation
over the 
next years.
Refer to
the Overview
section
of Management’s
Discussion
and Analysis
included
in this
Form 10-K
for information 
on recent significant
events that have
impacted or
will impact our
current and future
operations. 
Human Capital Management 
Popular
seeks
to
embody
our
purpose
of “putting
people
at the
center
of progress”
throughout
its human
capital
management. 
Attracting,
developing
and
retaining
top
talent
in
an
environment
that
promotes
wellness,
inclusion,
respect,
learning
and