Published On: Fri, Mar 8th, 2013

MCB: 2012 Was A Very Interesting For Our Bank

MCB Group’s total assets increased with NAf. 237 million or 4% and passed the 6 billion mark at NAf. 6,044 million. Our shareholder’s equity was again strengthened considerably by NAf. 64 million (11%) and for the first time passed the amount of NAf. 600 million at NAf. 652 million (excluding minority interest).

MCBankWILLEMSTAD (MCB) -- In 2012, the saying “May you live in interesting times” was often used in one way or the other in our communities.

And the year 2012 was certainly very interesting for our Bank, our country and several of the countries that we do a great deal of business with.

Not only were there elections in Curaçao for the first time since the constitutional restructuring that took place in our Kingdom in 2010, but there were also elections in The Netherlands, the United States and in Venezuela.

After much internal debate, in Curaçao the ruling coalition since October 10, 2010 could not count on a majority in Parliament anymore and came to an end in August of the year. It was replaced by a temporary interim Government, which was supported by a new majority in Parliament. After the elections of October 19th a new coalition Government was formed that assumed its responsibility on December 31st of the year.

Together with the Curaçao community, we hope that this Government will tackle some very long outstanding issues and will bring stability and much needed new prosperity to our country, despite serious financial difficulties. In The Netherlands, elections were held in September after the reigning coalition government fell in April because of disagreements on the budget deficit.

Shortly after the elections a new coalition government was formed, which immediately had to face the challenging financial situation there.

The two new governments in the two largest countries in the Kingdom have stated their intentions in strengthening the relationships between the two countries, especially in the year 2013, when our communities commence the commemoration of two hundred years since the formal establishment of the Kingdom of the Netherlands.

In both Venezuela and the United States, the incumbent Presidents won the elections which hopefully will result in greater stability. But time will tell if this is the case.

For our Bank the year 2012 was very interesting, if not challenging, as was expected. The Bank adjusted to the environments in its three different jurisdictions and introduced some exciting new products and services in all markets. It was also the year in which we officially opened our beautiful new Lio Capriles Banking Center in Curaçao and in which we did some major maintenance on the Group’s head office in Punda. Also during 2012 the first part of the major renovation and construction of our head office in Sint Maarten was completed and the decision was taken for the construction of a new building in Oranjestad, Aruba. The planning and work on these buildings have once again made us aware and confirmed that our Bank is a bank anchored in our historic and always lively inner cities. While other companies have moved their main offices out of our cities, our Bank has remained in the bustling capitals of our countries. In this Annual Report, we tell the stories of the life and times in and of these cities since being established.

During the year, we saw only one change in our Board of Supervisory Directors. Our longest tenured member, Eduardo de Veer regretfully gave us notice of his wish to retire from the Supervisory Board. During the fourteen years on the Board, Eduardo was an entrepreneurial, stabilizing and very knowledgeable member and we will surely miss his commitment and very insightful and valuable contributions. We wish him all the best!

After 45 years working for our bank in Bonaire, and managing it since 1977, Evert Piar went on a well-earned retirement. Evert was the face of the Bank in Bonaire and very well known in the community, not only for his services to our clients, but also for his numerous activities for and with the community. We welcome Leonard Domacassé, who assumed the responsibilities which Evert held.

We enter 2013 with new hope, new opportunities and strengthened commitment to be able to continue the growth of our Bank for our employees, shareholders and the communities we serve and we have confidence that we are well prepared for the next “interesting times”.

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