Oriental Bank marks 60 years in Puerto Rico
The financial institution was founded in Humacao in 1964.
To mark its 60th anniversary, Puerto Rico-based Oriental Bank said it is “reaffirming its commitment” to making progress possible for clients, shareholders, employees and the communities they serve.
“In this celebration of our 60 years, we keep alive our commitment to offering quality service to all clients, while providing them with innovative tools that help facilitate their financial transactions,” said Oriental CEO José Rafael Fernández.
“We continue to evolve over time, adapting to market changes and maximizing the latest technologies and trends to offer exceptional solutions that provide convenience. We’re a committed team, made up of talented leaders who work every day to achieve our purpose of driving the progress of our clients,” Fernández said.
Over the decades, Oriental has integrated self-service tools that make banking operations more efficient, “streamlining routine banking transactions and offering professional advice from our experts when customers face more complex financial needs,” the CEO said.
Milestones of Oriental Bank:
- 1964: Oriental Federal Savings & Loan Association was founded in Humacao, Puerto Rico.
- 1987: Initial public offering of common stock listed on the Nasdaq.
- 1988: José Enrique Fernández-Bjerg becomes president, focusing on financial planning and investments.
- 1990: Oriental becomes the first local bank with a trust division, through the acquisition of Drexel Burnham Lambert Puerto Rico.
- 1992: Oriental becomes the first Puerto Rican bank listed on the American Stock Exchange.
- 1993: Launch of Oriental Financial Services, the first local bank brokerage in Puerto Rico.
- 1994: Begins trading on the New York Stock Exchange.
- 1995: Establishes Oriental Insurance subsidiary.
- 2004: José Rafael Fernández becomes president, transitioning to a full-service bank.
- 2010: Acquires Eurobank from the Federal Deposit Insurance Corp.
- 2012: Acquires BBVA’s operations in Puerto Rico.
- 2013: Oriental Financial Group changes its corporate name to OFG Bancorp and Oriental Bank and Trust changes its name to Oriental Bank.
- 2014: Launches FOTOdepósito and People Pay.
- 2016/2017: Introduces OrientalBiz app, SecurLock, and Virtual ATMs.
- 2019: Acquires Scotiabank’s operations in Puerto Rico and the U.S. Virgin Islands.
- 2023: Integrates ATH Móvil and launches “Sales and Service” website.
“We aspire to be a more agile alternative. At Oriental, we are more than ready to continue serving, bringing progress and financial success to the people, communities and businesses in Puerto Rico,” Fernández continued.
“This year, we will continue to introduce new solutions for the convenience of all customers. We invite you to keep an eye on our announcements, social media and website to find out what we will be offering in 2024,” Fernández added.
