OFG Bancorp Delivers Exceptional Q2 2026 Results with Strong Financial Performance and Digital Banking Growth
OFG Bancorp, a leading digital bank in Puerto Rico, has released its second quarter 2026 results, showcasing exceptional financial performance and continued growth in digital banking adoption. The company reported strong earnings per share (EPS) of $1.39, up 21% year-over-year, driven by consistent loan growth, core deposit strength, stable credit quality, and effective balance sheet management.
According to José Rafael Fernández, Chief Executive Officer and Chairman of the Board of Directors, "We had another all-around outstanding quarter with good momentum in all areas." The company's financial performance was marked by a 4% growth in total core revenues, fueled by healthy consumer and business liquidity, wage growth, and historically low unemployment in Puerto Rico. Fernández highlighted the resilience of the local economy, stating that "Puerto Rico's economy continues to be resilient, with healthy consumer and business liquidity, wage growth, and historically low unemployment."
OFG Bancorp has successfully launched a new branding campaign, emphasizing its strategic evolution into a digital bank with a human touch. The company's core digital strategy is centered around three key areas: offering value to customers through innovative account products, leveraging technology to drive digital adoption and efficiency, and intelligent banking using data to provide real-time, personalized insights.
The results of this approach are evident in the company's key performance indicators (KPIs), which show steady growth across all areas. During the second quarter, OFG Bancorp reported year-over-year growth of 4% in net new retail and commercial customers, 11% in active digital users, 6% in digital loan payments, and 3% in virtual teller use.
"Our products and people are delivering added value to our customers every day," Fernández stated. The company's commitment to customer-centricity is reflected in its focus on providing personalized experiences through innovative account products, such as Libre for the mass market, Elite for the mass affluent, and My Biz for small businesses.
Maritza Arizmendi, Chief Financial Officer, provided further details on the company's financial performance. The financials showed a strong efficiency ratio of 54%, return on average assets (ROAA) of 1.93%, and return on average tangible common equity (ROATCE) of almost 18%. Loans to deposit ratio was 85%, with a payout ratio of 25% reflecting the higher income in this quarter versus the first quarter.
Total interest income increased by $3 million, driven by higher average balances of loans at higher average rates. Core revenues climbed to $190 million, a $4.5 million increase from the same period last year.
