Maduro & Curiel's Bank: Difference between revisions
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'''Maduro & Curiel's Bank (MCB)''' is a private [[commercial bank]] and [[financial services]] provider based in the [[Dutch Caribbean]]. MCB operates 31 full-service branches and specializes in credit/debit cards, insurance brokerage, trust, private banking and corporate management services. MCB |
'''Maduro & Curiel's Bank (MCB)''' is a private [[commercial bank]] and [[financial services]] provider based in the [[Dutch Caribbean]]. MCB operates 31 full-service branches and specializes in credit/debit cards, insurance brokerage, trust, private banking and corporate management services. MCB is headquartered in [[Willemstad]], [[Curaçao]].<ref>{{Cite news |
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| url = http://mcb-bank.com/Aboutus |
| url = http://mcb-bank.com/Aboutus |
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| title =Maduro & Curiel's Bank, About MCB |
| title =Maduro & Curiel's Bank, About MCB |
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Revision as of 19:10, 15 June 2014
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| Company type | Private |
|---|---|
| Industry | Financial Services |
| Founded | 1917 |
| Headquarters | Willemstad, Curaçao |
| Revenue |  $268.6 million USD[1] (2013) |
| $82.8 million USD[1] (2013) | |
| Total assets | $3.492 billion USD[1] (2013) |
Number of employees | 1,494 |
| Website | http://www.mcb-bank.com |
Maduro & Curiel's Bank (MCB) is a private commercial bank and financial services provider based in the Dutch Caribbean. MCB operates 31 full-service branches and specializes in credit/debit cards, insurance brokerage, trust, private banking and corporate management services. MCB is headquartered in Willemstad, Curaçao.[2]
History
Maduro's Bank was founded on January 2, 1917 in collaboration between Joseph 'Shon Jojo' Alvarez-Correa from the commerce house Correa Hermanos & Co., and the well-known trading company S.E.L. Maduro & Sons. An initial capital investment of 1,000,000 ANG thereby created the first commercial bank in the Dutch colonies.[3]
The bank's foundation was closely tied to the industrialization of Curaçao taking place in the early 20th century. By taking advantage of Willemstad's naturally deep harbor, the recently opened Panama Canal, a stable government, and Curaçao's proximity to Venezuelan oil reserves, the economy began to grow at an unprecedented rate. Following Royal Dutch Shell's construction of what was the largest refinery in the world, the island saw a large influx of Dutch corporations looking to support Shell's business activities. In the following years, the island saw a steady inflow of foreign capital seeking Curaçao's favorable tax policies. In that regard, existing financial methods that had been handled by merchant houses soon became obsolete and a demand for modern banking services emerged.
MCB was the first bank to extend effectively zero-interest credit to immigrant groups fleeing persecution in Eastern Europe during the 1930s.[4] MCB has since grown to become one of the largest private banks in the Caribbean.
Since 1970, MCB has been associated with Scotiabank.
Maduro & Curiel's Group
- Maduro & Curiel's Bank
- Caribbean Mercantile Bank
- The Windward Islands Bank Ltd.
- Maduro & Curiel's Insurance Services N.V.
- Royal & SunAlliance Insurance
- Progress N.V.
- Caribbean Mercantile Securities Administration Co.
- MCB Securities Administration N.V.
- Caribbean Factoring Services B.V.
- FactorPlus Aruba N.V.
References
- ^ a b c "MCB Annual Report 2013" (PDF). MCB.com. March 7, 2014. Retrieved March 23, 2014.
- ^ "Maduro & Curiel's Bank, About MCB". Maduro & Curiel's Bank. Retrieved December 16, 2012.
- ^ "The Curacao Island: Maduro Curiel Bank MCB Curacao". thecuracaoisland.com. May 21, 2011. Retrieved January 3, 2012.
- ^ "Maduro & Curiel's Bank, Roots of Our Future". Curaçao Chamber of Commerce & Industry. December 11, 2002. Retrieved August 10, 2012.
External links
This article incorporates text from this source, which is in the public domain.
- Maduro & Curiel's Bank [1]