OFG Bancorp

OFG Bancorp, founded in 1964, more commonly known as OFG or Oriental Bank, is a financial holding company located in San Juan, Puerto Rico. OFG offers a wide range of retail and commercial banking, lending and wealth management products, services and technology, primarily in Puerto Rico through its principal subsidiaries: Oriental Bank, Oriental Financial Services Corp., and Oriental Insurance, Inc. Its headquarters are located at the Oriental Center, 15th Floor, 254 Muñoz Rivera Avenue, San Juan, PR 00918. OFG Bancorp, one of Puerto Rico's top three banks, has $9.3 billion in assets (2019), and approximately 2,400 employees (2019).

"Oriental Bank and Trust" redirects here. For other uses of "Oriental Bank", see Oriental Bank (disambiguation).
OFG Bancorp
TypePublic
NYSE: OFG
S&P 600 Component
IndustryFinance and Insurance
FoundedHumacao, Puerto Rico; 1964
HeadquartersSan Juan, Puerto Rico
Key people
Jose Rafael Fernandez, President & CEO http://linkedin.com/in/jose-rafael-fernandez-83a05134
Julian S. Inclán, Chairman
ProductsBanking
Checking Accounts
Insurance
stock brokerage
Investment Bank
Asset-Based Lending
Consumer finance
RevenueUS$ 455.97 million (2019)[1]
US$ 53.84 million (2019)[1]
Number of employees
2,400 (2019)[1]
Websitewww.ofgbancorp.com

In 2010, Oriental acquired failed competitor Eurobank. In late 2012, Oriental announced the acquisition of Spain's Banco Bilbao Vizcaya Argentaria's Puerto Rican unit for $500 million in cash.[2]

The company changed its name to OFG Bancorp from Oriental Financial Group in 2013.[3]

In June 2019 it was announced that OFG Bancorp would acquire all branches of Scotiabank within Puerto Rico and The United States Virgin Islands territories as part of a $550M cash deal.

Subsidiaries
  • Oriental Bank
  • Oriental Financial Services Corp.
  • Oriental Insurance, Inc.
  • Oriental Pension Consultants, Inc. (OPC).
  • Oriental Mortgage
  • Oriental Auto

References
  1. OFG Bancorp by Bloomberg.com
  2. Oriental Financial to buy BBVA's Puerto Rican bank
  3. Shareholders Approve Changing Name of Oriental Financial Group Inc. to OFG Bancorp
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