Published On: Fri, Aug 9th, 2013

ORCO Bank takes over loan portfolio Mees Pierson

MeesPiersonWILLEMSTAD – ORCO Bank has signed an agreement with ABN AMRO to take over the full loan portfolio and related collateral from MeesPierson Curacao. The total value of the loan portfolio is approximately USD 45 million.

ORCO Bank, will take over the loan and its collateral in its entirety. This means that existing loan agreements and provisions that individual clients have with MeesPierson Curacao will remain valid. All former Mees Pierson customers will receive new account numbers.

Start Date

The exact date on which the loan will be transferred to ORCO Bank will be announced shortly. After the transfer has occurred all former Mees Pierson customers will receive a written confirmation. The agreement is subject to approval of the Central Bank of Curaçao and St. Maarten. The reason for the transfer is that ABN AMRO, for strategic reasons, has decided to terminate it's Private banking activities in Curaçao by the end of 2013.

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