OFG Bancorp Q2 Profit Beats Estimates

(RTTNews) - OFG Bancorp (OFG), the financial holding company for Oriental Bank, reported second quarter EPS of $1.08 compared to $0.93, a year ago. On average, four analysts polled by Thomson Reuters expected the company to report profit per share of $0.96, for the quarter. Analysts' estimates typically exclude special items. Total core revenues were $179.4 million compared to $170.5 million, prior year.

Jos Rafael Fernndez, CEO, said: "EPS increased 16.1% year-over-year on a 5.2% increase in total core revenues. We generated strong performance metrics through consistent growth; increased loans, deposits, and non-interest income; and stable credit quality. Our 'Digital First' strategy continues to help us expand our retail and business relationships through new and upgraded products, services, and self-service tools."

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