OFG's Oriental Bank Expands ATM Network to Become 2nd Largest in Puerto Rico

SAN JUAN, Puerto Rico--(BUSINESS WIRE)--

OFG Bancorp OFG today announced that its Oriental Bank subsidiary has expanded its ATM network 34% to become the second largest in Puerto Rico, with the placement of units in 72 Walgreens WBA and 13 other retail locations. The new ATMs, which went live this week, give Oriental a total of 332 across the Island, all of which are free of charge to its banking customers.

"The expansion is another step forward in Oriental's strategy to lead Puerto Rico with the most extensive, most convenient array of technology enhanced services," said José Rafael Fernández, President and CEO of Oriental and OFG Bancorp. "We want to make it easy for our customers to ‘vive la diferencia' and bank anytime and anywhere they like, quickly, without waiting in lines."

According to Oriental's market research, approximately 80% of Puerto Rico's population uses ATMs and 40% consider ATM proximity and convenience as a primary reason for selecting a bank.

The agreement was signed with Sharenet, Inc. of Syracuse, NY, a third party ATM service provider. Sharenet has a relationship with Walgreens, the largest retail pharmacy, health and daily living destination in the USA and Europe, and other retailers.

Oriental has pioneered advanced services in Puerto Rico like FOTOdepósito, People Pay, and Cuenta Libre (Freedom Account), making it easy for customers who want to access their accounts via mobile phone, tablet, web, debit / credit card, or ATMs, and avoid ATM fees.

About OFG Bancorp

Now in its 51^st year in business, OFG Bancorp is a diversified financial holding company that operates under U.S. and Puerto Rico banking laws and regulations. Its three principal subsidiaries, Oriental Bank, Oriental Financial Services and Oriental Insurance, provide a full range of commercial, consumer and mortgage banking services, as well as financial planning, trust, insurance, investment brokerage and investment banking services, primarily in Puerto Rico, through 53 financial centers. Investor information can be found at www.ofgbancorp.com.