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| type = [[Privately held company|Private]]
| type = [[Privately held company|Private]]
| foundation = 1916
| foundation = 1916
| founders = Joseph Alvarez-Correa, Levy-Maduro family
| area_served = [[Curaçao]], [[Aruba]], [[Bonaire]], [[Sint Maarten]], [[Sint Eustatius]]
| area_served = [[Curaçao]], [[Aruba]], [[Bonaire]], [[Sint Maarten]], [[Sint Eustatius]]
| key_people = C.S. Norfolk<br><small>([[Chairman of the Board|Chairman]])</small><br>Chicu Capriles<br><small> ([[President (corporate title)|President]] & [[Chief Executive Officer|CEO]])</small>
| key_people = I.E. McGlynn<br><small>([[Chairman of the Board|Chairman]])</small><br>Chicu Capriles<br><small> ([[President (corporate title)|President]] & [[Chief Executive Officer|CEO]])</small>
| num_employees = 1,450 <small>(2018)</small><ref name=MCB2018/>
| num_employees = 1,288 <small>(2021)</small><ref name=MCB2020>{{cite web|url=https://www.mcb-bank.com/download/media/240|title=MCB Annual Report 2021|publisher=www.mcb-bank.com|date= July 7, 2021|accessdate=Sep 3, 2022}}</ref>
| industry = [[Financial Services]]
| industry = [[Financial services]]
| revenue = {{increase}} US$ 278.7&nbsp;million <small>(2019)</small><ref name=MCB2019>{{cite web|url=https://www.mcb-bank.com/download/159358|title=MCB Financial Highlights 2019|publisher=www.mcb-bank.com|date= August 5, 2020|accessdate=August 5, 2020}}</ref>
| revenue = {{decrease}} US$ 232.8&nbsp;million <small>(2021)</small><ref name=MCB2020/>
| net_income = {{decrease}} US$ 82.4&nbsp;million <small>(2019)</small><ref name=MCB2019/>
| net_income = {{increase}} US$ 62.3&nbsp;million <small>(2021)</small><ref name=MCB2020/>
| assets = {{decrease}} US$ 4.4&nbsp;billion <small>(2019)</small><ref name=MCB2019/>
| assets = {{increase}} US$ 5.2&nbsp;billion <small>(2021)</small><ref name=MCB2020/>
| homepage = {{URL|http://www.mcb-bank.com/|MCB-Bank.com}}
| homepage = {{URL|http://www.mcb-bank.com/|MCB-Bank.com}}
}}
}}


'''Maduro & Curiel's Bank (MCB)''' is a private [[Dutch Caribbean]] bank and [[financial services]] provider headquartered in [[Willemstad]], [[Curaçao]], founded in 1916 by Joseph Alvarez-Correa and the Levy-Maduro family, prominent [[Jews|Jewish]] Curaçaoan merchant families.<ref>{{Cite web|url=https://greenviewcuracao.com/green-views-the-story-of-curacaos-greatest-banker/|title=Green View’s The Story Of Curaçao’s Greatest Banker – Green View|language=en-US|access-date=2019-10-01}}</ref> MCB operates 23 branches and specializes in insurance brokerage, consumer banking, trust, private banking and corporate management services.
'''Maduro & Curiel's Bank (MCB)''' is a private [[Dutch Caribbean]] bank and [[financial services]] provider headquartered in [[Willemstad]], [[Curaçao]], that operates 23 branches and specializes in insurance brokerage, consumer banking, trust, private banking and corporate management services.<ref>{{Cite web|url=https://greenviewcuracao.com/green-views-the-story-of-curacaos-greatest-banker/|title=Green View’s The Story Of Curaçao’s Greatest Banker – Green View|language=en-US|access-date=2019-10-01}}</ref>


== History ==
== History ==
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<!-- Deleted image removed: [[File:Mcb banking center.jpg|thumb|right|MCB Banking Center]] -->
<!-- Deleted image removed: [[File:Mcb banking center.jpg|thumb|right|MCB Banking Center]] -->


Beginning in 1893, the absence of coins and banknotes in Curaçao led [[Maduro Holding|S.E.L. Maduro & Sons]] to issue money coupons up until the introduction of the 1901 Coinage Act. For a long time this 'Maduro Money' was accepted as payment on the [[ABC islands (Lesser Antilles)|ABC islands]].<ref name="Curacao Bank Notes">{{Cite news
Beginning in 1893, the absence of coins and banknotes in Curaçao led [[Maduro Holding|S.E.L. Maduro & Sons]] to issue money coupons until the introduction of the 1901 Coinage Act. For a long time this 'Maduro Money' was accepted as payment on the [[ABC islands (Lesser Antilles)|ABC islands]].<ref name="Curacao Bank Notes">{{Cite news
| url = http://books.caribseek.com/Curacao/Commercial_History_of_Curacao/local-bank-notes-and-coins.shtml
| url = http://books.caribseek.com/Curacao/Commercial_History_of_Curacao/local-bank-notes-and-coins.shtml
| title =Local Bank Notes and Coins, Roots of Our Future
| title =Local Bank Notes and Coins, Roots of Our Future
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On December 16, 1916, after a failed bid to take over the [[Central Bank of Curaçao and Sint Maarten|Central Bank of Curaçao]], local financier Joseph Alvarez-Correa with the financial backing of S.E.L. Maduro & Sons established Maduro's Bank, the island's first commercial bank. In 1932, Curiel's Bank, founded by members of the [[Curiel family]] and which had grown from the successful banking department of Morris E. Curiel & Sons, merged with Maduro's Bank to form MCB.
On December 16, 1916, after a failed bid to take over the [[Central Bank of Curaçao and Sint Maarten|Central Bank of Curaçao]], local financier Joseph Alvarez-Correa with the financial backing of S.E.L. Maduro & Sons established Maduro's Bank, the island's first commercial bank. In 1932, Curiel's Bank, founded by members of the [[Curiel family]] and which had grown from the successful banking department of Morris E. Curiel & Sons, merged with Maduro's Bank to form MCB.


The bank is considered the first to have extended credit to [[Eastern European]] [[Jews]] fleeing persecution in the years preceding World War II.<ref name="Maduro & Curiel's Bank">{{Cite news
The bank became notable for being the first to extend credit to [[Eastern European]] [[Jews]] fleeing persecution in the years preceding World War II.<ref name="Maduro & Curiel's Bank">{{Cite news
| url = http://books.caribseek.com/Curacao/Commercial_History_of_Curacao/maduro-and-curiels-bank.shtml
| url = http://books.caribseek.com/Curacao/Commercial_History_of_Curacao/maduro-and-curiels-bank.shtml
| title =Maduro & Curiel's Bank, Roots of Our Future
| title =Maduro & Curiel's Bank, Roots of Our Future
Line 62: Line 61:


==References==
==References==
{{reflist}}
{{Reflist}}


==External links==
==External links==
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{{Source-attribution}}
{{Source-attribution}}
*Maduro & Curiel's Bank [http://www.mcb-bank.com/]
*Maduro & Curiel's Bank [http://www.mcb-bank.com/]

{{Authority control}}


{{DEFAULTSORT:Maduro and Curiel's Bank}}
{{DEFAULTSORT:Maduro and Curiel's Bank}}

Latest revision as of 11:06, 13 November 2024

Maduro & Curiel's Bank N.V.
Company typePrivate
IndustryFinancial services
Founded1916
Area served
Curaçao, Aruba, Bonaire, Sint Maarten, Sint Eustatius
Key people
I.E. McGlynn
(Chairman)
Chicu Capriles
(President & CEO)
RevenueDecrease US$ 232.8 million (2021)[1]
Increase US$ 62.3 million (2021)[1]
Total assetsIncrease US$ 5.2 billion (2021)[1]
Number of employees
1,288 (2021)[1]
WebsiteMCB-Bank.com

Maduro & Curiel's Bank (MCB) is a private Dutch Caribbean bank and financial services provider headquartered in Willemstad, Curaçao, that operates 23 branches and specializes in insurance brokerage, consumer banking, trust, private banking and corporate management services.[2]

History

[edit]

Beginning in 1893, the absence of coins and banknotes in Curaçao led S.E.L. Maduro & Sons to issue money coupons until the introduction of the 1901 Coinage Act. For a long time this 'Maduro Money' was accepted as payment on the ABC islands.[3] However, by the early 20th century increasing industrialization following the discovery of oil in nearby Venezuela and the opening of the Panama Canal ushered in a demand for modern banking services.[4]

On December 16, 1916, after a failed bid to take over the Central Bank of Curaçao, local financier Joseph Alvarez-Correa with the financial backing of S.E.L. Maduro & Sons established Maduro's Bank, the island's first commercial bank. In 1932, Curiel's Bank, founded by members of the Curiel family and which had grown from the successful banking department of Morris E. Curiel & Sons, merged with Maduro's Bank to form MCB.

The bank became notable for being the first to extend credit to Eastern European Jews fleeing persecution in the years preceding World War II.[5]

Since 1970, MCB has been affiliated with Scotiabank.

Maduro & Curiel's Group

[edit]
  • Maduro & Curiel's Bank N.V.
  • Caribbean Mercantile Bank N.V.
  • Maduro & Curiel's Bank (Bonaire) N.V.
  • The Windward Islands Bank Ltd.
  • MCB Risk Insurance N.V.
  • Maduro & Curiel's Insurance Services N.V.
  • Progress N.V.
  • MCB Securities Administration N.V.
  • Caribbean Factoring Services B.V.
  • FactorPlus Aruba N.V.
  • FactorPlus Sint Maarten N.V.

References

[edit]
  1. ^ a b c d "MCB Annual Report 2021". www.mcb-bank.com. July 7, 2021. Retrieved Sep 3, 2022.
  2. ^ "Green View's The Story Of Curaçao's Greatest Banker – Green View". Retrieved 2019-10-01.
  3. ^ "Local Bank Notes and Coins, Roots of Our Future". Curaçao Chamber of Commerce & Industry. December 11, 2002. Retrieved February 26, 2015.
  4. ^ "The Curacao Island: Maduro Curiel Bank MCB Curacao". thecuracaoisland.com. May 21, 2011. Retrieved January 3, 2012.
  5. ^ "Maduro & Curiel's Bank, Roots of Our Future". Curaçao Chamber of Commerce & Industry. December 11, 2002. Retrieved August 10, 2012.
[edit]

Public Domain This article incorporates text from this source, which is in the public domain.

  • Maduro & Curiel's Bank [1]
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