Annual
Report 2024
60 Years of Unstoppable Progress
The cover features team members celebrating our 60th anniversary in business.
Since our founding in 1964, one constant has been our dedication and commitment to
our mission – making progress possible for our customers, employees, shareholders,
and the communities we serve. From a handful of people, we have grown to a team of
2,200+ that’s more than ready to help today, tomorrow, and the years ahead.
About the Cover & Our Mission
We are a diversified financial holding company that operates under U.S., Puerto Rico and
U.S. Virgin Islands banking laws and regulations.
Our three principal subsidiaries, Oriental Bank, Oriental Financial Services, and Oriental
Insurance, provide a wide range of retail and commercial banking, lending and wealth
management products, services, and technology, primarily in Puerto Rico and U.S. Virgin
Islands.
As a challenger brand, we differentiate ourselves through superior, customer-facing
technology and forward-thinking value-added service for our retail customers and
commercial clients.
About OFG Bancorp
We demonstrated consistent and excellent operational execution in 2024. Earnings per
share increased 10.4% year-over-year on a 3.9% increase in total core revenues.
Our Digital First strategy helped to grow our banking franchise and market share. We
also benefited from lower taxes and buying back 1.8 million shares.
It was a great way to conclude celebrating our 60th year in business bringing progress to
all our stakeholders.
To see more about our results and strategic initiatives, please visit our 2024 digital
annual report website at http://annualreport.orientalbank.com.
Thank you,
José Rafael Fernández
Chief Executive Officer and Chairman
CEO Message to Shareholders
Form 10-K
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