-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 FNCvtlNDzw5vfw9NN8Y3CA==

<SEC-DOCUMENT>0001220580-03-000010.txt : 20030815
<SEC-HEADER>0001220580-03-000010.hdr.sgml : 20030815
<ACCEPTANCE-DATETIME>20030815142427
ACCESSION NUMBER:		0001220580-03-000010
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030815
FILED AS OF DATE:		20030815

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			REXACH FRANCISCO M JR
		CENTRAL INDEX KEY:			0001220580

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-13818
		FILM NUMBER:		03850398

	MAIL ADDRESS:	
		STREET 1:		P O BOX 362708
		CITY:			SAN JUAN
		STATE:			PR
		ZIP:			00936-2708

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			POPULAR INC
		CENTRAL INDEX KEY:			0000763901
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		IRS NUMBER:				660416582
		STATE OF INCORPORATION:			PR
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		209 MUNOZ RIVERA AVE
		STREET 2:		POPULAR CENTER BUILDING
		CITY:			HATO REY
		STATE:			PR
		ZIP:			00918
		BUSINESS PHONE:		7877659800

	MAIL ADDRESS:	
		STREET 1:		P.O. BOX 362708
		CITY:			SAN JUAN
		STATE:			PR
		ZIP:			00936-2708

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BANPONCE CORP
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>doc4.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>
    <periodOfReport>2003-08-15</periodOfReport>
    <notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000763901</issuerCik>
        <issuerName>POPULAR INC</issuerName>
        <issuerTradingSymbol>BPOP</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001220580</rptOwnerCik>
            <rptOwnerName>REXACH FRANCISCO M JR</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>P O BOX 362708</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>SAN JUAN</rptOwnerCity>
            <rptOwnerState>PR</rptOwnerState>
            <rptOwnerZipCode>00936-2708</rptOwnerZipCode>
            <rptOwnerStateDescription>PUERTO RICO</rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>
  <nonDerivativeTable>
    <nonDerivativeHolding>
      <securityTitle>
          <value>Common Stock Par Value $6 per share</value>
      </securityTitle>
      <postTransactionAmounts>
          <sharesOwnedFollowingTransaction>
              <value>101953.00</value>
          </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
          <directOrIndirectOwnership>
              <value>D</value>
          </directOrIndirectOwnership>
      </ownershipNature>
   </nonDerivativeHolding>
    <nonDerivativeHolding>
      <securityTitle>
          <value>Common Stock Par Value $6 per share</value>
      </securityTitle>
      <postTransactionAmounts>
          <sharesOwnedFollowingTransaction>
              <value>95800.00</value>
          </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
          <directOrIndirectOwnership>
              <value>I</value>
          </directOrIndirectOwnership>
          <natureOfOwnership>
              <value>Note 1</value>
              <footnoteId id="F1" />
          </natureOfOwnership>
      </ownershipNature>
   </nonDerivativeHolding>
    <nonDerivativeHolding>
      <securityTitle>
          <value>Common Stock Par Value $6 per share</value>
      </securityTitle>
      <postTransactionAmounts>
          <sharesOwnedFollowingTransaction>
              <value>19000.00</value>
          </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
          <directOrIndirectOwnership>
              <value>I</value>
          </directOrIndirectOwnership>
          <natureOfOwnership>
              <value>Note 2</value>
              <footnoteId id="F2" />
          </natureOfOwnership>
      </ownershipNature>
   </nonDerivativeHolding>
  </nonDerivativeTable>
  <derivativeTable>
   <derivativeTransaction>
      <securityTitle>
          <value>Stock Option (Right to Buy)</value>
      </securityTitle>
      <conversionOrExercisePrice>
          <value>37.00</value>
      </conversionOrExercisePrice>
      <transactionDate>
          <value>2003-08-13</value>
      </transactionDate>
      <deemedExecutionDate>
          <value>2003-08-13</value>
      </deemedExecutionDate>
      <transactionCoding>
          <transactionFormType>4</transactionFormType>
          <transactionCode>A</transactionCode>
          <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
          <transactionShares>
              <value>600.00</value>
          </transactionShares>
          <transactionPricePerShare>
              <value>0</value>
          </transactionPricePerShare>
          <transactionAcquiredDisposedCode>
              <value>A</value>
          </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <exerciseDate>
          <value>2013-08-13</value>
      </exerciseDate>
      <expirationDate>
          <value>2013-08-13</value>
      </expirationDate>
      <underlyingSecurity>
          <underlyingSecurityTitle>
              <value>Common Stock Par Value $6 per share</value>
          </underlyingSecurityTitle>
          <underlyingSecurityShares>
              <value>600.00</value>
          </underlyingSecurityShares>
      </underlyingSecurity>
      <postTransactionAmounts>
          <sharesOwnedFollowingTransaction>
              <value>600.00</value>
              <footnoteId id="F3" />
          </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
          <directOrIndirectOwnership>
              <value>D</value>
          </directOrIndirectOwnership>
      </ownershipNature>
   </derivativeTransaction>
  </derivativeTable>
<footnotes>
   <footnote id="F1">As attorney in fact for his mother, Monserrate Navas Vda. Rexach. Mr. Rexach has voting power of these shares.</footnote>
   <footnote id="F2">As President and Shareholder of Capital Assets.</footnote>
   <footnote id="F3">Total Stock Options of Popular, Inc. owned by Mr. Rexach - 6,246.</footnote>
</footnotes>
    <ownerSignature>
       <signatureName>Francisco M. Rexach</signatureName>
       <signatureDate>2003-08-15</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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