Oriental beats 2Q estimates despite lower net-interest margin.

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  • Additional Information
    • Subject Terms:
      PUERTO Rico
    • Subject Terms:
      ORIENTAL Financial Group Inc. 014750843 OFG; BANCO Bilbao Vizcaya Argentaria SA
    • Subject Terms:
      FERNANDEZ, Jose Rafael
    • Abstract:
      The article reports on the net income of Oriental Financial Group Inc. in the second quarter (2Q) of 2012, which has reached by 13.8 million dollars despite lower net-interest margin (NIM) of 31-basis-point contraction. Oriental president José Rafael Fernández states that the result of the 2Q were aligned with expatiations. It also discusses the acquisition by Oriental of the operations of Banco Bilbao Vizcaya Argentaria-Puerto Rico (BBVA-PR) for 500 million dollars.