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17 2017 85,929 12,290 52,770 12,207 163,196 2017 531,138 502,507 917,180 2017 494,538 931,492 128,252

The adoption of IFRS 9 has fundamentally changed the Bank’s loan loss impairment method by replacing IAS 39’s incurred loss approach with a forward-looking Expected Credit Loss (“ECL”) ap- Based on the above process, the loans are grouped into Stage 1, • Stage 1: When loans are first recognized, the Bank recognizes an allowances based on 12 month’s ECL’s. Stage 1 loans also include facilities where

Expected Credit Loss Principles proach. Stage 2 and Stage 3, as described below: has been reclassified from Stage 3; for the Lifetime ECL’s. Calculation of Expected Credit Losses over the assessed period. cilities, and accrued interest from missed payments. a percentage of the EAD. cantly material.
Explanatory Notes to the Consolidated Financial Highlights of Banco di Caribe N.V.

flows are consistent with a basic lending arrangement i.e. interest includes only consideration for the time value of money, credit risk, other basic lending risks and a profit margin that is consistent with Based on these factors, the Bank classified its debts instruments • Amortized cost: Assets that are held for collection of contractual cash flows where those cash flows represent solely paymen

ADVERTENTIE a basic lending arrangement. into the following measurement category: interest rate method. measurement categories: sive income. • Fair value through profit or loss (“FVPL”) ment. Derecognition of Financial Assets the asset. ownership. I. Assets Investment Securities FVOCI – debt securities FVPL – equity securities FVOCI – equity securities Retail customers Corporate cus

Subsidiaries are those enterprises controlled by the Bank. Control exists when the Bank has the power, directly or indirectly, to govern the financial and operating policies of the enterprise so as to obtain benefits from its activities. The financial statements of subsidiar- ies are included in the consolidated financial statements from the date that control commences until the date that control c

Vrijdag 28 juni 2019 4. Basis of Consolidation solidated financial statements. of the financial assets depend on: Business Model Assessment Value Through Profit or Loss (FVPL) SPPI

Antilliaans Dagblad As at December 31, 2018 A. Accounting Policies 1. General The principal accounting policies adopted in the preparation of the consolidated financial statements of Banco di Caribe N.V. and its subsidiaries (the “Bank”) are set out below. These explanatory notes are an extract of the detailed notes included in the consolidated fi- nancial statements and are consistent in all materia

Vrijdag 28 juni 2019 2017 2018 520,707 596,548 163,196 150,297 109,967 3,539 917,180 958,308 81,936 80,965 22,657 20,473 - 8,832 96,242 89,048 1,911,885 1,908,010 1,554,282 1,692,521 561 - 22,657 20,473 8,031 6,641 4,616 1,754 17,177 16,566 2,038 2,058 1,609,362 1,740,013 20,677 20,677 75,750 75,750 39,992 40,006 166,104 31,564 302,523 167,997 1,911,885 1,908,0

Antilliaans Dagblad Consolidated Statement of Financial Position As at December 31, 2018 (in ‘000 Antillean Guilders) Cash and due from banks Loans and advances to customers Bank premises and equipment Customers’ liability under acceptances Liabilities and Shareholder’s Equity Acceptances outstanding Payables and other financial liabilities Total shareholder’s equity Total liabilities and shareholder’s

ADVERTENTIE Assets Investment securities Investment property Deferred tax assets Other assets Total assets Liabilities Customers’ deposits Due to other banks Deferred tax liabilities Current tax liabilities Provisions Total liabilities Shareholder’s equity Issued capital Share premium Other reserves Retained earnings report dated June 25, 2019. That report also includ

Independent Auditor’s Report on the Consolidated Financial Highlights To the Shareholder and Board of Directors The consolidated financial highlights, which comprise the consolidated balance sheet as at December 31, 2018, the consoli- current period. dated statement of profit and loss for the year then ended, and related notes, are de- rived from the audited cons

16 of Banco di Caribe N.V. Opinion port thereon.