Puerto Rico’s Office of Financial Institutions Commissioner George Joyner said although the deal is pending regulatory approvals, he sees “no major obstacle” for Oriental’s acquisition of Scotiabank de Puerto Rico’s assets to happen. In an interview on the “En Una Hora” program that airs on 11Q 1140 AM, in which News is my Business participates, […]
OFG Bancorp announced it has filed applications at four regulatory agencies for consent of its proposed acquisition of Scotiabank de Puerto Rico, according to public notices published Tuesday. The petitions to the Federal Reserve, the Federal Deposit Insurance Corp., the Puerto Rico Office of the Commissioner of Financial Institutions and the U.S. Virgin Islands Banking […]
OFG Bancorp, parent company of Oriental Bank, announced the Virgin Islands Banking Board approved the first regulatory step related to the acquisition of Scotiabank’s U.S. Virgin Island operations. The permit authorizes Oriental to organize a bank in the territory. To assume Scotiabank’s operations and start serving customers in the USVI, Oriental will also need a license and approval from […]
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