OFG's Oriental Bank Completes System Conversion
OFG's Oriental Bank Completes System Conversion
SAN JUAN, Puerto Rico--(BUSINESS WIRE)-- OFG Bancorp (NYS: OFG) today announced that its banking subsidiary, Oriental Bank, has successfully completed on schedule the conversion of BBVA Puerto Rico's operations and technology platform to Oriental's platform.
OFG acquired BBVA's PR operations in December 2012, transforming Oriental into one of the leading banks in Puerto Rico, with the second largest branch network (55) and more than 90 ATMs and 1,500 employees. Oriental's state of the art platform enables the bank to provide superior service and agility in delivering innovative solutions.
"Our goal was to seamlessly integrate both banks' platforms, while maintaining the quality of service that our clients are accustomed to receiving from us," said José Rafael Fernández, President, CEO and Vice Chairman of OFG. "After 10 months of intensive planning, testing and standardization of processes and procedures, we have successfully completed the conversion. We are grateful for the commitment our employees have shown during this process, maintaining constant and transparent communication with all our clients throughout all our lines of business. Because of their dedicated efforts, this conversion was a total success."
Mr. Fernández noted the conversion also demonstrates OFG's proven integration capability as Oriental's loan portfolio has grown more than threefold, to $5.0 billion as of June 30, 2013, from $1.6 billion a year ago. In 2010, OFG similarly integrated the $1.5 billion loan portfolio that was part of the FDIC assisted acquisition of Eurobank.
To continue open channels of communication, any client needing assistance or having questions can contact Oriental via phone at 787-620-0000 or through the Company's website www.orientalbank.com, where they can access all the information they need in a fast and simple manner.
About OFG Bancorp
Now in its 49th year in business, OFG Bancorp is a diversified financial holding company that operates under U.S. and Puerto Rico banking laws and regulations. Its three principal subsidiaries, Oriental Bank, Oriental Financial Services and Oriental Insurance, provide a full range of commercial, consumer and mortgage banking services, as well as financial planning, trust, insurance, investment brokerage and investment banking services, primarily in Puerto Rico, through 55 financial centers. Investor information can be found at www.ofgbancorp.com.
Puerto Rico:
OFG Bancorp,
Alexandra López, 787-522-6970
allopez@orientalbank.com,
US:
Anreder & Company,
212-532-3232
Steven Anreder, steven.anreder@anreder.com
Gary Fishman, gary.fishman@anreder.com
KEYWORDS: United States North America Caribbean Florida Puerto Rico
INDUSTRY KEYWORDS:
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