Published On: Wed, Apr 23rd, 2014

Press release Central Bank – Giro Bank N.V.

Giro BankWILLEMSTAD - The Central Bank of Curaçao and Sint Maarten (CBCS) announces that pursuant to Article 30, paragraph 8 of the National Ordinance on Supervision of Banking and Credit System 1994 (OJ 1994, No. 4), with effect from April 15, 2014, Mr. Carel Lopez is authorized by the CBCS to take over the management of the Giro Bank NV together with Mr. Christian Peterson. This is associated with the authority, which the CBCS has received on December 16, 2013 concerning emergency regulations regarding Giro Bank NV.

The employment agreements with three former directors have ended. Currently, the CBCS is in the last phase of the evaluation period of the Giro Bank NV and the CBCS is also involved in the process to strengthen the bank through recapitalization. In this phase, the CBCS is assisted by the American banking supervisor, Federal Deposit Insurance Corporation (FDIC).

Finally, we wish to thank all the employees of Giro Bank NV and the customers of the institution for their support and confidence in Giro Bank N.V. in recent months.

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