-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 VYk9VHR9FCK9Q0Aeq6jY8QrDlxm30qEQE7QenkTdvG2jMjOSxLHswvvLoNiUl4Af
 rziDfgfGlgbTTjQ/8W2WEQ==

<SEC-DOCUMENT>0001209191-04-021196.txt : 20040419
<SEC-HEADER>0001209191-04-021196.hdr.sgml : 20040419
<ACCEPTANCE-DATETIME>20040419174411
ACCESSION NUMBER:		0001209191-04-021196
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030725
FILED AS OF DATE:		20040419

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			R&G FINANCIAL CORP
		CENTRAL INDEX KEY:			0001016933
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		IRS NUMBER:				660532217
		STATE OF INCORPORATION:			PR
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		280 JESUS T. PINERO AVE
		CITY:			HATO REY, SAN JUAN
		STATE:			PR
		ZIP:			00918

	MAIL ADDRESS:	
		STREET 1:		280 JESUS T PINERO AVE
		CITY:			HATO REY, SAN JUAN
		STATE:			PR
		ZIP:			00918

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			NIN RAFAEL
		CENTRAL INDEX KEY:			0001024443

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31381
		FILM NUMBER:		04741371

	BUSINESS ADDRESS:	
		STREET 1:		1 CERVANTES STREET APT 2
		STREET 2:		PEPSI COLA PUERTO RICO BOTTLING CO
		CITY:			SAN JUAN PUERTO RICO
		STATE:			PR
		ZIP:			00949
		BUSINESS PHONE:		7872512000

	MAIL ADDRESS:	
		STREET 1:		1 CERVANTES STREET APT 2
		CITY:			SAN JUAN PUERTO RICO
		STATE:			PR
		ZIP:			00907
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>boa88579_boa01rn.xml
<DESCRIPTION>MAIN DOCUMENT DESCRIPTION
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0201</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2003-07-25</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001016933</issuerCik>
        <issuerName>R&amp;G FINANCIAL CORP</issuerName>
        <issuerTradingSymbol>RGF</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001024443</rptOwnerCik>
            <rptOwnerName>NIN RAFAEL</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O R&amp;G FINANCIAL CORPORATION</rptOwnerStreet1>
            <rptOwnerStreet2>280 JESUS T. PINERO AVENUE</rptOwnerStreet2>
            <rptOwnerCity>HATO REY, SAN JUAN</rptOwnerCity>
            <rptOwnerState>PR</rptOwnerState>
            <rptOwnerZipCode>00918</rptOwnerZipCode>
            <rptOwnerStateDescription>PUERTO RICO</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>No securities beneficially owned.</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <ownerSignature>
        <signatureName>/s/ Rafael Nin</signatureName>
        <signatureDate>2004-04-19</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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