FX.co ★ OFG Bancorp Q2 Profit Beats Estimates

OFG Bancorp (OFG), the financial holding company for Oriental Bank, announced its second-quarter earnings per share (EPS) of $1.08, up from $0.93 the previous year. Four analysts surveyed by Thomson Reuters had, on average, projected an EPS of $0.96 for the quarter. It is important to note that analysts' estimates typically exclude special items. The company's total core revenues rose to $179.4 million, compared to $170.5 million in the same quarter last year.

José Rafael Fernández, CEO, commented: "Our EPS saw a 16.1% year-over-year increase on the back of a 5.2% rise in total core revenues. We delivered strong performance metrics through consistent growth, which included boosts in loans, deposits, and non-interest income, alongside stable credit quality. Our 'Digital First' strategy continues to drive the expansion of our retail and business relationships by offering new and upgraded products, services, and self-service tools."