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4 ADVERTENTIE Antilliaans Dagblad Donderdag 30 april 2020

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ECONOMIC ENVIRONMENT favorable “sweet deal” rates. The expansion of security agency and paying agency service for The impact of the coronavirus outbreak on the
According to the Central Bank of Curaçao and XLI W[IIX HIEP SǺ IVMRK XS SYV :5+ QIQFIVW MR large consortium loans. ǻ RERGMEP WIGXSV HSIWRƶX PSSO TVSQMWMRK ;I LEZI
Sint Maarten the economy is experiencing a Sint Maarten through a representative on the The net impairment losses on loans and EPVIEH] WIIR QENSV QEVOIX GSVVIGXMSRW ERH E
prolonged recession since 2016. The economic island is progressing slowly but surely. EHZERGIW [EW MRWMKRMǻ GERX E KEMR SJ &3, global recession seems unavoidable. According
GSRXVEGXMSR [EW MR MRǼ EXMSR 1.2 million). Total operating expenses increased XS XLI ǻ VWX GEPGYPEXMSR SJ XLI (IRXVEP 'ERO SJ
remains high at 2.7% in 2019 (2018: 2.6%). In 2019 CONSOLIDATED BALANCE SHEET F] XS &3, QMPPMSR &3, Curaçao and Sint Maarten the impact of the
the Curaçao economy has started to grow again .R SYV XSXEP EWWIXW MRGVIEWI F] XS &3, million) due to among others an increase in corona virus lock down on the local economy
RSQMREPP] FYX HYI XS LMKL MRǼ EXMSR XLI VIEP ,)5 QMPPMSR &3, QMPPMSR 8LMW MRGVIEWI TIVWSRRIP I\TIRWIW 5IVWSRRIP I\TIRWIW [SYPH FI WMKRMǻ GERX 8LI IGSRSQMG GSRXVEGXMSR
OITX WLVMROMRK 8LI HIǻ GMX SJ XLI GYVVIRX EGGSYRX was mainly due to the following: MRGVIEWIH F] XS &3, QMPPMSR &3, could range from 8.8% to 19.4% in a worst case
of the balance of payment is fairly stable at • An increase in net loans and advances by 8% QMPPMSR EW E GSRWIUYIRGI SJ QSZIQIRXW scenario.
&3, 'MPPMSR MR ERH VIWYPXMRK MR E XS &3, QMPPMSR &3, QMPPMSR in personnel.
relatively comfortable import coverage of 4 • An increase in the cash and due from banks The net result from operations before tax Another challenge the bank faces in 2020 is to
months (3 months minimum). F] XS &3, QMPPMSR &3, MRGVIEWIH F] XS &3, QMPPMSR &3, find a new first tier correspondent bank to
Based on our information 3 hotels have started million). QMPPMSR 8EOMRK MRXS EGGSYRX XLI TVSǻ X XE\ SJ VITPEGI )IYXWGLI 'ERO XLEX LEW HIGMHIH XS
construction (Corendon, Marriott Courtyard and &3, QMPPMSR XLI RIX TVSǻ X MW &3, QMPPMSR PIEZI XLI VIKMSR ;I EVI MR XLI ETTVSZEP TVSGIWW
(SVEP (PMǺ )S^IRW SJ WQEPPIV TVSNIGXW EVI EPWS 4R XLI PMEFMPMX] WMHI SJ XLI GSRWSPMHEXIH FEPERGI &3, QMPPMSR [MXL E RYQFIV SJ PEVKI FEROW XS EGX EW SYV 9 )
YRHIV I\IGYXMSR 8LI 2EVVMSXX EX 5MWGEHIVE LEW sheet, the increase in assets was accompanied ERH *974 GSVVIWTSRHIRX
VIGIRXP] ǻ REPM^IH GSRWXVYGXMSR ERH STIRIH MXW by an increase of funds entrusted by 24% to OUTLOOK
HSSVW .R )IGIQFIV EKVIIQIRX [EW &3, QMPPMSR &3, QMPPMSR 4FZMSYWP] XLI (SVSRE ZMVYW LEW VIEPP] ƸKSSM VSIX As the bank continues to grow we are adding
VIEGLIH [MXL XLI 0PIWGL ,VSYT JSV XLI TYVGLEWI +YVXLIVQSVI XLI XSGOLSPHIVƶW IUYMX] MRGVIEWIH in het eten” on Curaçao as well as in the rest of employees in the credit and IT departments.
SJ XLI VIǻ RIV] ERH XLI 4MP 8IVQMREP F] XS &3, QMPPMSR &3, QMPPMSR the world. As the situation changes every day ;I FIPMIZI JMVQP] XLEX SYV GSQQMXQIRX XS
which contributed positively to our capital everything we write today may be obsolete TVSZMHI LMKL UYEPMX] WIVZMGI ERH TIVWSREP
Vidanova Bank produced again a strong result EHIUYEG] tomorrow. It is clear that the economic attention in commercial banking, mortgages,
in 2019 closing an excellent year in which we GSRWIUYIRGIW SJ XLMW GVMWMW EVI HMVI 8LI X[S I GSQQIVGI ERH FSRH PSER EKIRG] GYWXSH]
achieved a record operating income and net CONSOLIDATED INCOME STATEMENT QEMR +< KIRIVEXSVW JSV (YVE±ES XSYVMWQ ERH areas will enable Vidanova Bank to continue to
MRGSQI 4RI SJ XLI MRXIVIWXMRK HIZIPSTQIRX .RXIVIWX MRGSQI MRGVIEWIH [MXL &3, QMPPMSR oil, are not generating any income. Hundreds TVSWTIV 4YV GSQQMXQIRX MW [MXL XLI [IPP FIMRK
for Vidanova Bank in 2019 was the better than XS &3, QMPPMSR [LMPI MRXIVIWX I\TIRWIW of companies are at the brink of bankruptcy SJ SYV GPMIRXW ERH WXEǺ ERH [I IRGSYVEKI XLIQ
I\TIGXIH KVS[XL SJ PSER TSVXJSPMS [MXL &3, MRGVIEWIH [MXL &3, QMPPMSR XS &3, QMPPMSR and thousands of employees are in the process to take the necessary measures to ensure their
million (an increase of 8%), despite the recession. 8LI GYQYPEXMZI IǺ IGX SJ XLIWI HIZIPSTQIRXW SJ PSWMRK XLIMV NSFW safety and health through these though times.
The development of the security & paying VIWYPXIH MR ER &3, QMPPMSR MRGVIEWI MR RIX
agency service for large consortium (bond) MRXIVIWX MRGSQI XS &3, QMPPMSR &GGSVHMRK XS TVSNIGXMSRW F] IGSRSQMWXW SYV
loans is developing very well while our role as Net fee and commission income decreased reserves will end up below the 3 month import Curaçao, April 9, 2020
GYWXSHMER JSV XLI )( < MW ǻ REPP] TE]MRK SǺ JVSQ &3, QMPPMSR XS &3, QMPPMSR EW E GSZIVEKI XLVIWLSPH [MXLMR XS QSRXLW 8LI
The marketing of our services to Vidanova GSRWIUYIRGI SJ I GSQQIVGI ERH GEVH MRGSQI fact that we are part of the Kingdom of the Managing Board of Directors of Vidanova
5IRWMSR +YRH :5+ QIQFIVW MW TVSKVIWWMRK Total other operating income increased by 16% Netherlands will hopefully work in our favor as Bank N.V.:
at a reduced speed as we are experiencing XS &3, QMPPMSR &3, QMPPMSR EW E ǻ RERGMEP EWWMWXERGI JVSQ XLI 3IXLIVPERHW MW
some fierce competition with regard to our GSRWIUYIRGI SJ GSQQMWWMSR SR WIGYVMXMIW EW sorely needed. L. Rigaud & R. de Lanoy
%QPUQNKFCVGF $CNCPEG UJGGV %QPUQNKFCVGF +PEQOG UVCVGOGPV B. SPECIFICATION OF ACCOUNTS
±Ÿ Ņü Ƒŏ %åÏåĵÆåųØ Ɨljŏŀ üŅų ƋĘå Ƽå±ų åĹÚåÚ Ƒŏ %åÏåĵÆåųØ Ɨljŏŀ The specification of accounts is an extract of the most
MQTSVXERX EGGSYRXW HIVMZIH JVSQ XLI GSRWSPMHEXIH ǻ RERGMEP
(After proposed 2019 2018 statements of the Bank.
appropriation of results) 12.31.2019 12.31.2018 ANG 000 ANG 000
ANG 000 ANG 000 12.31.2019 12.31.2018
ASSETS Interest income 23,876 20,678 + #UUGVU ANG 000 ANG 000
Cash and due from banks 176,837 73,112 Interest expense 4,693 INVESTMENT SECURITIES
Investment securities 107 17,970 Shares and participations 107 106
Total net interest income 18,991 15,985
Loans and advances to 420,327 387,928 Investment in Treasury
customers +II ERH GSQQMWWMSR 5ETIVW 17,864
Bank premises and 6,412 6,934 income 6,007 Net investments 107 17,970
IUYMTQIRX +II ERH GSQQMWWMSR
,SSH[MPP ERH SXLIV 9,646 9,429 expenses 2,410 2,982 12.31.2019 12.31.2018
intangible assets Total net fee and ANG 000 ANG 000
)IJIVVIH XE\ EWWIXW 1,039 934 commission income 2,603 3,025 LOANS AND ADVANCES
4XLIV EWWIXW 8,322 9,097 TO CUSTOMERS
Net trading income 64 41 Retail customers 182,243
Total assets 623,320 505,404
4XLIV STIVEXMRK MRGSQI 3,614 3,131 Corporate customers 146,071
LIABILITIES AND STOCKHOLDER’S Total other operating 4XLIV 62,874
EQUITY income 3,678 3,172 Total loans and advances 425,327 393,362
Liabilities to customers
Customer deposits 417,468 Total operating income 25,272 22,182 Accrued interest
)YI XS SXLIV FEROW 91 162 Salaries and other receivable on loans and 3,214
)IJIVVIH XE\ PMEFMPMXMIW 1,787 employee expenses 9,894 8,862 advances
4XLIV PMEFMPMXMIW 7,422 4GGYTERG] I\TIRWIW 3,048 Less: allowance for
Loans from related party 10,000 3IX MQTEMVQIRX PSWWIW expected credit losses (8,648)
426,643 (gain) on loans and (1,230) Net loans and advances 420,327 387,928
advances
Stockholder’s equity to customers
4XLIV STIVEXMRK I\TIRWIW 6,282
Issued capital ++ .KCDKNKVKGU 12.31.2019 12.31.2018
Share premium Total operating expenses 19,450 16,834 ANG 000 ANG 000
4XLIV VIWIVZI 11,703 CUSTOMER DEPOSITS
Net result from 5,822 5,348
Retained earnings 42,123 Retail customers
operations before tax
íĉØLjíƖ ƀíØƀƅŎ Corporate customers
5VSǻ X XE\ I\TIRWI 1,173 4XLIV 219,847
Total liabilities and 623,320 505,404
stockholders’ equity Net result after tax 5,321 4,175 Total customer deposits 518,155 417,468