OFG Bancorp.
OFG.US | Other monetary intermediation
OFG Bancorp is a financial holding company headquartered in San Juan, Puerto Rico. It operates through its subsidiaries, offering a range of banking and financial services, including commercial banking, retail banking, and wealth management. The company's services include deposit accounts, loans (co...Show More
Better Health for All
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OFG Bancorp collects sensitive personal health information, such as infection and vaccination status, for public health and workplace safety obligations.
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The company demonstrates strong healthcare data responsibility, with a Recruitment Privacy Statement outlining data collection, use, disclosure, and storage, along with data retention policies, user rights (including access, correction, deletion, and consent withdrawal), and technical and organizational security measures.
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In 2024, OFG reported 0 data breaches, 0 individuals' personal information impacted, and $0 monetary losses from privacy legal claims.
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The company's core financial services products and operations have no significant direct positive or negative health impact, and it generally avoids doing business with industries that could have negative health outcomes, such as gambling or marihuana businesses.
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Fair Money & Economic Opportunity
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No specific, quantitative data points were found in the provided articles to assess OFG.US against the defined KPIs for Fair Money & Economic Opportunity. Information regarding customer demographics, loan pricing, revenue sources from high-cost products, share of loan book for inclusion initiatives, customer data portability, fair lending compliance outcomes, wealth building outcomes for customers, profit reinvestment percentages, reach of financial literacy programs, customer debt-to-income ratios, geographic coverage of underserved areas, or product simplicity was not explicitly stated with measurable figures that align with the rubric's quantitative thresholds.
Fair Pay & Worker Respect
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OFG Bancorp's employee engagement is reflected by 72% of employees recommending the company
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and an overall employee rating of 3.7 out of 5 stars
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. The CEO approval rating stands at 90%.
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These ratings are in line with the average for the Financial Services industry.
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However, some employee reviews highlight concerns about "low salaries compare to peers" and "low pay."
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No specific data is available for living wage coverage, CEO to median employee pay ratio, collective bargaining share, safety incident rate, pay equity ratio, employee turnover rate, labor violation incidents, insecure contract share, or health insurance coverage.
Fair Trade & Ethical Sourcing
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No specific quantitative data points were found in the provided articles for any of the Fair Trade & Ethical Sourcing KPIs. While one article mentions a commitment to providing opportunities for small and diverse businesses and defines diverse suppliers
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, it does not provide a percentage of the procurement budget directed to these suppliers. Similarly, there is no explicit mention of ethical clauses in supplier contracts or any other quantitative evidence for the remaining KPIs.
Honest & Fair Business
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No specific, quantifiable evidence was found in the provided articles to assess OFG Bancorp against any of the 'Honest & Fair Business' KPIs. The articles mention the existence of corporate governance documents, including guidelines, codes of ethics, and procedures for reporting potential violations
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, but do not provide details on their strength, enforcement, effectiveness, or any associated metrics such as regulatory fines, transparency index scores, whistleblower policy specifics, financial restatements, audit coverage, ESG controversies, complaint resolution times, board conflict-free percentages, anti-corruption policy details, or third-party verification.
Kind to Animals
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No specific, concrete data points regarding OFG.US's animal welfare practices, policies, or related metrics were found in the provided articles. The articles discussing OFG.US mention its general ESG policy
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and commitment to SASB reporting for commercial banking, mortgage finance, and consumer finance
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, but do not detail any information relevant to animal testing, cruelty-free certifications, ethical sourcing, or wildlife conservation.
No War, No Weapons
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No specific, concrete evidence was found in the provided articles to assess OFG.US against any of the 'No War, No Weapons' KPIs. The company operates as a financial holding company, and the articles primarily discuss general banking operations, ESG program overviews, corporate governance documents, and financial performance metrics.
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There is no information related to arms contracts, dual-use technology, sales to embargoed regimes, peacebuilding investments, conflict divestment policies, or any other defense or conflict-related activities that would allow for scoring against the provided rubric.
Planet-Friendly Business
-60
OFG Bancorp does not have SBTi-validated carbon reduction targets or a declared net-zero target year, nor does it participate in any tracked reduction initiatives.
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The company reported Scope 1 emissions of 374 metric tons CO2-e and Scope 2 emissions of 6,915 metric tons CO2-e in 2024.
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It performs environmental due diligence in the underwriting of commercial mortgage loans and for borrowers in high-risk industries.
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Its banking subsidiary financed a solar project with 20,500 panels, estimated to reduce 26,700 tons of carbon dioxide annually.
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Employees participated in biodiversity initiatives including ecological garden and tree nursery maintenance, iguana egg harvesting, and reforestation.
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The company commits to annual ESG reporting based on SASB standards.
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Respect for Cultures & Communities
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OFG Bancorp participated in the restoration of the Antiguo Acueducto (San Juan Aqueduct) in Río Piedras, demonstrating active restoration of a previously damaged cultural site.
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The company also has at least 7 formal partnerships with local community groups, including Grupo Guayacán, University of Sagrado Corazón, and Para la Naturaleza.
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Safe & Smart Tech
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OFG Bancorp has not experienced any material cybersecurity incidents in the last three fiscal years
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, reporting zero data security incidents in 2023 and 2024
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, and no data breach events involving personally identifiable financial information for the year ended June 30, 2024
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. The company maintains a comprehensive cybersecurity risk management framework
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, performs annual risk and cybersecurity maturity assessments
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, and has an Incident Response Team
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. Regarding data use, there were no monetary losses related to privacy legal claims in 2023 or 2024
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, and the company monitors for unauthorized data releases
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, promising not to share user information with any third party
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. Information used for secondary purposes, such as cross-selling, is for internal, authorized use. The company provides an annual information security awareness plan for employees
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, with 40,594 total learning hours and an average of 10.4 hours per employee
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. Users can subscribe and unsubscribe from investor email alerts
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. OFG Bancorp operates under U.S., Puerto Rico, and U.S. Virgin Islands banking laws and regulations
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, is subject to FDIC audits
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, and its CEO and CFO file Sarbanes-Oxley Act Section 302 Certifications
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.
Zero Waste & Sustainable Products
-40
OFG Bancorp has implemented two waste reduction initiatives: encouraging eco-friendly habits and recycling in its office locations, and using electronic documentation whenever possible.
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