OFG Bancorp OFG

Company Overview

OFG Bancorp is a financial holding company headquartered in San Juan, Puerto Rico, operating primarily through its principal banking subsidiary, Oriental Bank. The company provides a broad range of banking and financial services to consumers, businesses, government entities, and institutional clients. OFG operates in the banking and financial services industry, with activities spanning retail banking, commercial banking, mortgage lending, wealth management, treasury services, and insurance-related financial products. Its primary revenue drivers include net interest income from lending activities, fees from banking services, mortgage banking operations, and wealth and treasury management services.

The company traces its origins to 1964 with the establishment of Oriental Federal Savings Bank in Puerto Rico. Over time, OFG expanded through organic growth and acquisitions, including the acquisitions of Eurobank, the Puerto Rico operations of BBVA Puerto Rico, and the Puerto Rico and U.S. Virgin Islands operations of Scotiabank. These transactions significantly increased its market share and deposit base in Puerto Rico. OFG has positioned itself as one of Puerto Rico’s major locally headquartered banking institutions, emphasizing digital banking capabilities, operational efficiency, and a diversified loan portfolio serving both consumer and commercial markets.