Page 83 - ARUBA BANK

16 ADVERTENTIE Antilliaans Dagblad Maandag 30 april 2018

Consolidated

Financial

Highlights

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Management report 8SXEP STIVEXMRK MRGSQI MRGVIEWIH JVSQ 4981440
&3, QMPPMSR XS &3, QMPPMSR .R XLI ('( JSVIWIIW KVS[XL
.R XLI EHHMXMSR XS XLI FEH HIFX IZIVEP PEVKI TVSNIGXW EVI YRHIV
*(4342.( .89&8.43 &RSXLIV FMK GLEPPIRKI JEGMRK XLI QSRIXEV] TVSZMWMSR SJ &3, QMPPMSR [EW QYGL GSRWXVYGXMSR ERH [MPP LEZI E TSWMXMZI IǺ IGX
&GGSVHMRK XS XLI (IRXVEPI 'ERO ZER (YVE±ES YRMSR (YVE±ES ERH MRX 2EEVXIR MW E LMKL LMKLIV XLER RSVQEP EW E GSRWIUYIRGI SJ SR XLI IGSRSQ] MR 5VITEVEXSV] [SVO
IR MRX 2EEVXIR LIVIEJXIV EPWS XS FI HIǻ GMX SR XLI GYVVIRX EGGSYRX SJ XLI FEPERGI XLI HIQMWI SJ E PEVKI GPMIRX .R XLI MW FIMRK HSRI JSV SXLIV PEVKI MRZIWXQIRXW
VIJIVVIH XS EW ƸXLI ('( ƹ XLI VIEP ,VSWW SJ TE]QIRXW 8LMW TVSFPIQ MW [SVWIRIH F] EHHMXMSR XS FEH HIFXW [EW &3, QMPPMSR MR ERH JYVXLIV
)SQIWXMG 5VSHYGX ,)5 HIGVIEWIH [MXL LYVVMGERI .VQE ;LMPI XLI HIǻ GMX JSV 4XLIV STIVEXMRK I\TIRWIW MRGVIEWIH JVSQ
MR [LMPI MRJPEXMSR [EW [EW &3, 'MPPMSR XLI IWXMQEXIW JSV MW &3, QMPPMSR XS &3, QMPPMSR EW [I .R ZMI[ SJ XLI :IRI^YIPER HIZIPSTQIRXW
9RIQTPS]QIRX LEW MRGVIEWIH JVSQ &3, 'MPPMSR ERH &3, 'MPPMSR LEH E WYFWXERXMEP MRGVIEWI MR GSRWYPXERG] ERH XLIMV VITIVGYWWMSRW SR SYV IGSRSQ]
XS EGGSVHMRK XS 4GXSFIV ǻ KYVIW &GGSVHMRK XS XLI (IRXVEP 'ERO GVIHMX ERH QEVOIXMRK I\TIRWIW 5IVWSRRIP there is a real chance that the Curaçao
[LMPI ]SYXL YRIQTPS]QIRX MW I\XIRWMSR LEW FIIR MRGVIEWMRK EKEMR MR I\TIRWIW MRGVIEWIH JVSQ &3, QMPPMSR IGSRSQ] [MPP WYǺ IV QSVI WIXFEGOW MR
ERH [MXL KVS[XL TIV 4GXSFIV XS &3, QMPPMSR EW E GSRWIUYIRGI SJ & FMK YRGIVXEMRX] MW [LIXLIV 5H: & [MPP
.R XLI ('( JSVIWIIW KVS[XL 8LI XLI LMVMRK SJ EHHMXMSREP IQTPS]IIW 8LI FI EFPI XS OIIT XLI VIǻ RIV] STIVEXMRK XMPP
LSWTMXEP GSRWXVYGXMSR MW MR MXW PEWX TLEWI XLI (43 41.)&8*) '&1&3(* -**8 GYQYPEXMZI IǺ IGX SJ XLIWI HIZIPSTQIRXW XLI IRH SJ ERH [LIXLIV E WIVMSYW
RI[ STIVEXSV SJ XLI )V] )SGO [MPP MRZIWX MR )YVMRK :MHERSZE 'ERO VIEPM^IH ER resulted in an increase in operating TEVXRIV [MPP FI JSYRH XS QSHIVRM^I XLI
XLI JEGMPMXMIW XLI VIRSZEXMSR I\TERWMSR SJ MRGVIEWI MR MXW PSERW ERH EHZERGIW JVSQ I\TIRWIW JVSQ &3, QMPPMSR XS &3, VIJMRIV] ERH KYEVERXII MXW PSRK XIVQ
XLI 2EVVMSXX -SXIP MW MR TVSGIWW 8LI &3, QMPPMSR XS &3, QMPPMSR [LMPI QMPPMSR WYVZMZEP
I\TIGXEXMSR MW XLEX MR E RYQFIV SJ PEVKI EX XLI WEQI XMQI MXW GEWL ERH HYI JVSQ 8LI VIWYPXMRK TVSǻ X FIJSVI XE\IW MW &3,
MRZIWXQIRXW F] &UYEPIGXVE [MPP GSQQIRGI FEROW HIGVIEWIH JVSQ &3, QMPPMSR XS QMPPMSR JSV &3, QMPPMSR .R ZMI[ SJ SYV KVS[XL WXVEXIK] [I I\TIGX
&3, 2 SZIV WIZIVEP ]IEVW IZIVEP &3, QMPPMSR 8EOMRK MRXS EGGSYRX XLI TVSǻ X XE\ SJ &3, XLI RYQFIV SJ IQTPS]IIW XS KVS[ [MXL
LSWTMXEPMX] TVSNIGXW XLEX WLSYPH LEZI E 4R XLI PMEFMPMX] WMHI SJ XLI GSRWSPMHEXIH QMPPMSR XLI RIX TVSǻ X MW &3, QMPPMSR ERSXLIV IQTPS]IIW ;I FIPMIZI ǻ VQP]
TSWMXMZI MQTEGX SR XLI IGSRSQ] MR FEPERGI WLIIX XLI HIGVIEWI MR EWWIXW [EW &3, QMPPMSR XLEX SYV GSQQMXQIRX XS TVSZMHMRK LMKL
ERH JYVXLIV EVI MR XLIMV TVITEVEXSV] TLEWI EGGSQTERMIH F] E HIGVIEWI SJ GYWXSQIV UYEPMX] WIVZMGI ERH TIVWSREP EXXIRXMSR MR
HITSWMXW JVSQ &3, QMPPMSR XS &3, :.)&34:& GSQQIVGMEP FEROMRK QSVXKEKIW
4R XLI SXLIV LERH XLI YRWXEFPI WMXYEXMSR QMPPMSR EW XLI SZIV PMUYMHMX] [EW VIHYGIH 5IV /ERYEV] WX XLI :MHERSZE 5IRWMSR MRXIVREXMSREP XVERWEGXMSRW I GSQQIVGI
MR :IRI^YIPE MW ZIV] GSRGIVRMRK 8LI LEVILSPHIVƶW IUYMX] MRGVIEWIH JVSQ +YRH XSSO E TEVXMGMTEXMSR SJ SJ XLI ERH FSRH PSER EKIRG] [MPP IREFPI
TVSFPIQW [MXL XLI VIǻ RIV] QEMRP] HYI XS &3, QMPPMSR XS &3, QMPPMSR EW E WLEVIW MR +8 'ERO ERH TIV /ERYEV] RH SJ :MHERSZE 'ERO XS GSRXMRYI XS TVSWTIV
XLI HMǽ GYPXMIW ǻ RERGMEP PIKEP STIVEXMSREP GSRWIUYIRGI SJ XLI EHHMXMSR SJ XLI VIWYPX XLI TEVXMGMTEXMSR [EW MRGVIEWIH XS
SJ 5IXVSPIYQ HI :IRI^YIPE & 5H: & SZIV 4R /ERYEV] XLI REQI SJ XLI FERO 2&3&,*2*38
ERH XLI ZIV] FEH UYEPMX] SJ XLI SMP VIWYPXMRK [EW VIFVERHIH XS :MHERSZE 'ERO [MXL SRP] 5IV +IFVYEV] 7IMRMPHS HI 1ERS]
MR IUYMTQIRX JEMPYVI EX XLI VIǻ RIV] ERH (43 41.)&8*) .3(42* 8&8*2*38 TSWMXMZI VIEGXMSRW JVSQ XLI GSQQYRMX] ;MXL WXEVXIH XS [SVO [MXL :MHERSZE 'ERO EW
(YVE±ES 7Iǻ RIV] 9XMPMXMIW (79 EVI EPWS .RXIVIWX MRGSQI MRGVIEWIH [MXL &3, XLMW WXVEXIKMG EPPMERGI :MHERSZE MRXIRHW XS QEREKMRK HMVIGXSV 8LI QEREKIQIRX MW MR
E QENSV MWWYI 8LI JEGX XLEX XLI GSRXMRYMX] QMPPMSR [LMPI MRXIVIWX I\TIRWIW MRGVIEWIH TVSZMHI MXW TEVXMGMTERXW [MXL EPP TSWWMFPI XLI LERHW SJ 1ISTSPH 7MKEYH 2E]VE 8LMIP
SJ .RWIP &MV ERH QSVI MQTSVXERXP] XLI EMV [MXL PIWW XLER &3, QMPPMSR 8LI ǻ RERGMEP WIVZMGIW ERH TVSHYGXW XLI] RIIH ERH 7IMRMPHS HI 1ERS] EW 2EREKMRK )MVIGXSVW
GSRRIGXMZMX] FIX[IIR XLI MWPERHW MW GYQYPEXMZI IǺ IGX SJ XLIWI HIZIPSTQIRXW HYVMRK XLIMV PMJIXMQI
XIRYSYW EX FIWX MW RSX LIPTMRK QEXXIVW VIWYPXIH MR ER &3, QMPPMSR MRGVIEWI MR Managing Board of Directors of Vidanova Bank N.V.:
MRXIVIWX QEVKMR XS &3, QMPPMSR 1 7MKEYH 2 8LMIP 7 HI 1ERS]

Explanatory notes to the Consolidated Financial Highlights for the year ended 31 December, 2017
A. ACCOUNTING POLICIES LEZI FIIR ETTPMIH GSRWMWXIRXP] HYVMRK XLI SR XLI REXYVI ERH TYVTSWI SJ XLI ǻ RERGMEP 5 LOANS AND ADVANCES
]IEV 8LI GSRWSPMHEXIH ǻ RERGMEP WXEXIQIRXW EWWIXW ERH 2EREKIQIRX HIXIVQMRIW XLI TO CUSTOMERS
1 GENERAL EVI TVIWIRXIH MR XLSYWERHW SJ 3IXLIVPERHW GPEWWMǻ GEXMSR SJ MXW MRZIWXQIRX WIGYVMXMIW 1SERW ERH EHZERGIW SVMKMREXIH F] XLI 'ERO
The principal accounting policies adopted &RXMPPIER ,YMPHIVW &3, ERH EPP ZEPYIW EVI EX MRMXMEP VIGSKRMXMSR 5IV ]IEV IRH XLI MRGPYHI PSERW [LIVI QSRI] MW TVSZMHIH
in the preparation of the consolidated VSYRHIH XS XLI RIEVIWX &3, XLSYWERHW 'EROƶW MRZIWXQIRX WIGYVMXMIW [IVI GPEWWMǻ IH HMVIGXP] XS XLI FSVVS[IV 1SERW SVMKMREXIH
ǻ RERGMEP WXEXIQIRXW SJ :MHERSZE 'ERO 3 : I\GITX [LIR SXLIV[MWI MRHMGEXIH EW LIPH XS QEXYVMX] ERH EZEMPEFPI JSV WEPI F] XLI 'ERO EVI MRMXMEPP] VIGSVHIH EX JEMV
ƵXLI 'EROƶ EVI WIX SYX FIPS[ 8LIWI ZEPYI &R EPPS[ERGI JSV PSER MQTEMVQIRX
explanatory notes are an extract of the 3 BASIS OF CONSOLIDATION Investments held to maturity WTIGMǻ G TVSZMWMSR MW IWXEFPMWLIH MJ XLIVI MW
detailed notes included in the statutory YFWMHMEVMIW EVI XLSWI MRWXMXYXMSRW MR [LMGL -IPH XS QEXYVMX] MRZIWXQIRXW EVI ǻ RERGMEP SFNIGXMZI IZMHIRGI XLEX XLI 'ERO [MPP FI
GSRWSPMHEXIH ǻ RERGMEP WXEXIQIRXW ERH EVI XLI 'ERO HMVIGXP] SV MRHMVIGXP] LEW XLI TS[IV EWWIXW [MXL ǻ \IH SV HIXIVQMREFPI TE]QIRXW YREFPI XS GSPPIGX EPP EQSYRXW HYI SR E GPEMQ
GSRWMWXIRX MR EPP QEXIVMEP VIWTIGXW [MXL XLSWI XS KSZIVR XLI ǻ RERGMEP ERH STIVEXMRK TSPMGMIW ERH ǻ \IH QEXYVMX] HEXIW XLEX XLI 'ERO LEW EGGSVHMRK XS XLI SVMKMREP GSRXVEGXYEP XIVQW
JVSQ [LMGL XLI] LEZI FIIR HIVMZIH WS EW XS SFXEMR FIRIǻ XW JVSQ MXW EGXMZMXMIW XLI TSWMXMZI MRXIRX ERH EFMPMX] XS LSPH XS SV XLI IUYMZEPIRX ZEPYI 8LI ,IRIVEP
:MHERSZE &WWIX -SPHMRK ' : [EW JSYRHIH QEXYVMX] YFWIUYIRX XS MRMXMEP VIGSKRMXMSR 5VSZMWMSR SR 1SERW ERH 1IEWIW ,511 EW
2 BASIS OF PREPARATION MR ERH MW E [LSPP] S[RIH WYFWMHMEV] SJ LIPH XS QEXYVMX] MRZIWXQIRXW EVI QIEWYVIH VIUYMVIH F] ('( MW TVIWIRXIH YRHIV Ƹ4XLIV
8LI (SRWSPMHEXIH +MRERGMEP -MKLPMKLXW LEZI XLI 'ERO 8LI GSRWSPMHEXIH JMRERGMEP EX EQSVXM^IH GSWX YWMRK XLI IǺ IGXMZI MRXIVIWX VIWIVZIWƹ MR Ƹ XSGOLSPHIVƶW IUYMX]ƹ 8LMW
FIIR TVITEVIH MR EGGSVHERGI [MXL XLI WXEXIQIRXW SJ XLI 'ERO JSV XLI ]IEV IRHIH QIXLSH PIWW ER] MQTEMVQIRX VIWIVZI MW E KIRIVEP VIWIVZI XS TVSZMHI JSV
Ƹ5VSZMWMSRW JSV XLI )MWGPSWYVIW SJ (SRWSPMHEXIH )IGIQFIV GSQTVMWI SJ XLI 'ERO TSXIRXMEP FYX EW ]IX YRMHIRXMǻ IH PSWWIW MR
+MRERGMEP -MKLPMKLXW SJ )SQIWXMG 'EROMRK ERH MXW WYFWMHMEV] Investments available for sale XLI PSER TSVXJSPMS
.RWXMXYXMSRWƹ EW MWWYIH F] XLI (IRXVEP 'ERO &+ ǻ RERGMEP EWWIXW EVI MRZIWXQIRXW XLEX
SJ (YVE±ES MRX 2EEVXIR ('( 4YV 4 INVESTMENT SECURITIES are either designated as AFS or are not B. SPECIFICATION OF ACCOUNTS
WXEXYXSV] GSRWSPMHEXIH ǻ RERGMEP WXEXIQIRXW 8LI 'ERO GPEWWMǻ IW MXW MRZIWXQIRX WIGYVMXMIW GPEWWMǻ IH EW E PSERW ERH VIGIMZEFPIW F 8LI WTIGMǻ GEXMSR SJ EGGSYRXW MW ER I\XVEGX
JVSQ [LMGL XLIWI (SRWSPMHEXIH +MRERGMEP MR XLI JSPPS[MRK GEXIKSVMIW ǻ RERGMEP EWWIXW LIPH XS QEXYVMX] MRZIWXQIRXW SV G ǻ RERGMEP SJ XLI QSWX MQTSVXERX EGGSYRXW HIVMZIH
-MKLPMKLXW LEZI FIIR HIVMZIH EVI TVITEVIH ƵEX JEMV ZEPYI XLVSYKL TVSǻ X SV PSWWƶ +:851 EWWIXW EX JEMV ZEPYI XLVSYKL TVSǻ X SV PSWW &+ JVSQ XLI WXEXYXSV] GSRWSPMHEXIH ǻ RERGMEP
MR EGGSVHERGI [MXL .RXIVREXMSREP +MRERGMEP ƵLIPH XS QEXYVMX]ƶ MRZIWXQIRXW ƵEZEMPEFPI MRZIWXQIRXW EVI MRMXMEPP] VIGSKRM^IH EX GSWX WXEXIQIRXW SJ XLI 'ERO
7ITSVXMRK XERHEVHW Ƹ.+7 ƹ ƶ ERH EVI JSV WEPIƶ &+ ǻ RERGMEP EWWIXW ERH ƵPSERW [LMGL MRGPYHIW XVERWEGXMSR GSWXW ERH EVI
EZEMPEFPI EX XLI 'ERO 8LI EGGSYRXMRK TSPMGMIW ERH VIGIMZEFPIWƶ 8LI GPEWWMǻ GEXMSR HITIRHW WYFWIUYIRXP] QIEWYVIH EX JEMV ZEPYI