Published On: Mon, Jan 4th, 2016

Vidanova acquires 2/3 SFT Bank

VidanovaWILLEMSTAD – According to unofficial information, the pension fund Vidanova acquires two third of the SFT Bank. It is expected that this will be officially announced soon.

Mid last year it was already confirmed that Vidanova which looked at the possibility of engaging in a cooperative relationship with the SFT Bank, which could result into the pension fund acquiring substantial shares of the bank. In the meantime, it became a reality.

Two thirds of the bank are now the hands of the pension fund, while one third remains in the hand of the existing owners. Presumably, on a later stage, all shares will be acquired by the ambitious pension provider.

It looks like the management of the SFT Bank will remain as well as the majority of the current staff.

SFT Bank, which operates in Curacao, has recorded a profit in 2014 after tax of 2.2 million guilders. Total assets are 331 million with a loan portfolio of 298 million.

Click Tag(s) for Related Articles: