OFG Bancorp
| Company type | Public |
|---|---|
| Industry | Financial services |
| Founded | 1964 |
| Headquarters | San Juan , Puerto Rico |
Area served | Puerto Rico, U.S. Virgin Islands |
Key people | José Rafael Fernández (Chairman and CEO) |
| Products | Retail and commercial banking, lending solutions, wealth management |
Number of employees | 2,246 (2024) |
| Website | www |
OFG Bancorp, established in 1964, serves as the financial holding entity for Oriental Bank, headquartered in San Juan, Puerto Rico. Through its subsidiaries Oriental Bank, Oriental Financial Services LLC, and Oriental Insurance LLC, it delivers retail and commercial banking, lending solutions, and wealth management primarily across Puerto Rico and the U.S. Virgin Islands. The corporate headquarters are located at Oriental Center, 254 Muñoz Rivera Avenue, San Juan, PR 00918. As of 2024, OFG Bancorp oversees assets totaling $11.5 billion and employs roughly 2,246 individuals.
In 2010, Oriental expanded its footprint by acquiring Eurobank, a failed rival institution. Two years later, in 2012, it completed a $500 million cash acquisition of Banco Bilbao Vizcaya Argentaria’s Puerto Rican division.
The organization underwent a rebranding in 2013, transitioning from Oriental Financial Group to OFG Bancorp.
Further growth occurred in 2019 when OFG Bancorp purchased all operations of Scotiabank in both Puerto Rico and the U.S. Virgin Islands through a $550 million cash deal.
In recognition of his two decades of leadership, CEO José Rafael Fernández was honored as American Banker’s Community Banker of the Year in 2023. He assumed the role of Chairman at OFG Bancorp in 2024.
Subsidiaries
- Oriental Bank
- Oriental Financial Services LLC
- Oriental Insurance LLC