SAN JUAN, Puerto Rico--(BUSINESS WIRE)--OFG Bancorp (NYSE:OFG) announced today that its Oriental Bank subsidiary will not charge late-payment fees for September loan payments, extending the grace period for a maximum of another 30 days. This will apply to any loan customers, whether they have personal, auto, credit card, mortgage or commercial loans.
José Rafael Fernández, President, Chief Executive Officer, and Vice Chairman of the Board, said that the measure is being taken to help clients whose budgets may be affected because of Hurricane Irma in Puerto Rico. “Oriental Bank is sensitive to the difficulties families are experiencing,” he said. “Elimination of late fees will not require any proactive action by customers. It will be automatic.”
“We are confident Puerto Rico will have a speedy recovery,” Mr. Fernández said. “If a client has a personal situation that will impact his or her capacity to make payments because of Hurricane Irma, call us at (787) 620-0000 for additional guidance. Commercial loan clients should contact their relationship officer or call (787) 620-PYME.”
About OFG Bancorp
Now in its 53rd 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 48 financial centers. Investor information can be found at www.ofgbancorp.com.