KBW adds Popular Inc. to its Nasdaq Regional Banking Index
SAN JUAN — Popular Inc., the bank holding company of Banco Popular, announced Wednesday that Keefe, Bruyette & Woods Inc. (KWB) has added Popular to its KBW Nasdaq Regional Banking Index as part of an index rebalancing for the third quarter of 2016.
The change will be effective before the opening of the market Monday, Sept. 19.
“We are pleased to join the KWB Nasdaq Regional Banking Index,” said Richard L. Carrión, chairman and CEO of Popular. “We remain focused on further strengthening the leading position in our main market, Puerto Rico, while supporting the growth of our franchise in the mainland United States as we continue to enhance shareholder value.”
The KBW Nasdaq Regional Banking Index is a modified market capitalization weighted index designed to track the performance of U.S. regional banks or thrifts that are publicly traded in the U.S.
Founded in 1893, Popular is the leading banking institution by both assets and deposits in Puerto Rico and ranks among the top 50 U.S. banks by assets.
In the mainland U.S., Popular has established a community-banking franchise providing financial services and products with branches in New York, New Jersey and Florida under the name of Popular Community Bank.