BNA rectifies article Quote

October 27, 2009 5:40 AM

In response to the article ‘Substantial investment loss for Central Bank Antilles’ on Quotenet.nl., the Bank of the Netherlands Antilles (BNA) sent out a press release in which the contents of the article are being invalidated.

According to the article, the stock market price of Bermuda Commercial Bank (BCB) had recently fallen, the BNA was supposedly shareholder of BCB, and the BNA had therefore supposedly incurred an investment loss. However, this is not correct according to the Central Bank.

“After all, it is not the BNA, but the First Curaçao International Bank N.V. (FCIB) who is one of the shareholders of BCB. Since October 9th, 2006, FCIB’s banking license has been withdrawn and the Court of Justice on Curaçao had declared the emergency regulation with regard to FCIB based on the LTBK. Since then, the settlement of FCIB is being carried out on the basis of the LTBK under supervision of the BNA. The BNA never was or is a shareholder of BCB or of FCIB. A decline of the stock market price of BCB does not have any consequences for the capital of the BNA. Therefore, there is no question of an investment loss for the BNA." according to the Central Bank of the Netherlands Antilles (BNA).

14 October 2009

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