Maduro & Curiel's Bank: Difference between revisions
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'''Maduro & Curiel's Bank''' was the first [[commercial bank]] to establish in the [[Netherlands Antilles]] and is currently the largest bank in the Dutch Carribean. The bank operates |
'''Maduro & Curiel's Bank''' was the first [[commercial bank]] to establish in the [[Netherlands Antilles]] and is currently the largest bank in the Dutch Carribean. The bank operates 31 branches on Curaçao, St. Maarten, Aruba, Bonaire and St. Eustatius and employs a labor force of approximately 1500. It is headquartered in [[Willemstad, Curacao]]. |
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== History == |
== History == |
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Revision as of 16:40, 3 January 2012
Maduro & Curiel's Bank was the first commercial bank to establish in the Netherlands Antilles and is currently the largest bank in the Dutch Carribean. The bank operates 31 branches on Curaçao, St. Maarten, Aruba, Bonaire and St. Eustatius and employs a labor force of approximately 1500. It is headquartered in Willemstad, Curacao.
History
The founding of Maduro & Curiel's Bank was intimately tied to the establishment of the Isla Oil Refinery (leased today by PDVSA) and the opening of the Panama Canal, both which made Willemstad's port a regular stop on world shipping routes. As a result of increased business due to international shipping, the existing financial methods that had been handled by merchants soon became obsolete and a demand for modern banking services emerged.
On January 2, 1917, Mr. Joseph Alvarez-Correa in collaboration with the trading company S.E.L Maduro & Sons, opened the doors to Maduro's Bank with an initial capital investment of 1,000,000 ANG. In 1932, Maduro's Bank merged with Curiel's Bank and Maduro & Curiel's Bank (MCB) was formed. Since 1970, MCB has been associated with The Bank of Nova Scotia.
As of 2010, MCB has approximately ANG 6 billion (4 billion USD) in assets.
Banking Services
In addition to commercial banking, Maduro & Curiel’s Bank has diversified into many areas of non-banking financial services such as underwriting and loss adjustment in portfolio management and investment services, insurance brokerage, and in private banking. Due to Curacao's status as an international tax-haven, offshore trust services have also flourished.
References
"About MCB - MCB Bank." MCB Bank. N.p., n.d. Web. 3 Jan. 2012. <http://www.mcb-bank.com/Aboutus>.
"Maduro and Curiel Bank MCB Curacao." The Curacao Island - Curacao - Blue Curacao. N.p., n.d. Web. 3 Jan. 2012. <http://www.thecuracaoisland.com/maduro-curiel-bank-mcb-curacao/>.
"Maduro & Curiel's Bank NV, Maduro & Curiel's Bank NV." Sustainable Business, Green Business, Renewable Energy, Organic & Green Investing, Green Capital. N.p., n.d. Web. 3 Jan. 2012. <http://www.sustainablebusiness.com/index.cfm/go/businessconnections.display/id/3582>.
External links
- Maduro & Curiel's Bank [1]