OFG Bancorp ( (OFG) ) has released its Q1 earnings. Here is a breakdown of the information OFG Bancorp presented to its investors.
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OFG Bancorp, a diversified financial holding company operating primarily in Puerto Rico and the U.S. Virgin Islands, offers a broad range of banking, lending, and wealth management services through its subsidiaries.
In its first quarter of 2025, OFG Bancorp reported a solid financial performance with an EPS of $1.00, despite a slight decrease from the previous quarter. The company highlighted growth in customer deposits and improvements in consumer credit, alongside strategic advancements in digital banking services.
Key financial metrics for the quarter included a net interest margin of 5.42% and a return on average assets of 1.56%. The company also reported a decrease in total interest income due to fewer business days, but this was partially offset by higher balances and yields on investment securities. OFG Bancorp’s strategic focus on technology was evident with the launch of new digital banking features, aiming to enhance customer experience.
The company maintained a strong capital position with a CET1 ratio of 14.3% and increased its common dividend by 20%, supported by robust earnings and capital levels. Despite global economic uncertainties, OFG Bancorp remains confident in its ability to navigate potential challenges, supported by a stable local economy and a solid balance sheet.
Looking ahead, OFG Bancorp’s management remains optimistic, focusing on leveraging its technological investments and strong customer relationships to drive future growth and stability in a dynamic economic environment.