EXHIBIT 21.0

                              LIST OF SUBSIDIARIES

A) ORIENTAL BANK AND TRUST - an insured non-member commercial bank organized
      and existing under the laws of the Commonwealth of Puerto Rico.

      SUBSIDIARIES OF ORIENTAL BANK AND TRUST:

      1. ORIENTAL INTERNATIONAL BANK INC. - an international banking entity
         organized and existing under the laws of the Commonwealth of Puerto
         Rico.

      2. ORIENTAL MORTGAGE CORPORATION - a mortgage bank organized and existing
         under the laws of the Commonwealth of Puerto Rico. This corporation is
         currently not in operation.

B) ORIENTAL FINANCIAL SERVICES CORP. - a registered securities broker-dealer
      organized and existing under the laws of the Commonwealth of Puerto Rico.

C) ORIENTAL INSURANCE, INC. - a registered insurance agency organized and
      existing under the laws of the Commonwealth of Puerto Rico.

D) CARIBBEAN PENSION CONSULTANTS, INC - a corporation organized and existing
      under the laws of the State of Florida that offers third party pension
      plan administration in the continental U.S., Puerto Rico and the
      Caribbean.

E) ORIENTAL FINANCIAL (PR) STATUTORY TRUST I - a special purpose statutory trust
      organized under the laws of the State of Connecticut.

F) ORIENTAL FINANCIAL (PR) STATUTORY TRUST II - a special purpose statutory
      trust organized under the laws of the State of Connecticut.