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15 EXPLANATORY NOTES TO OF ORCO BANK N.V.
orcobank.com / about / general THE CONSOLIDATED FINANCIAL HIGHLIGHTS Based on these factors, the Bank classified its debt instruments into the following measurement categories: Assets that are held for collection of contractual cash flows where those cash flows represent solely payments of principal and interest (‘SPPI’), and that are not designated at FVPL, are measured at amortized cost. The c

ADVERTENTIE - Amortized cost: method. - Fair value through profit or loss (“FVPL”): using the effective interest rate method. Derecognition of financial assets ‘new’ asset at fair value and recalculates a new effective interest rate for the asset. Expected credit loss principles incurred loss approach with a forward-looking Expected Credit Loss (“ECL”) approach. • Stage 2; • loan has bee

Dinsdag 23 april 2019 The principal accounting policies adopted in the preparation of the Consolidated Financial Highlights of Orco Bank 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 financial statements and are consistent in all material respects with those The Bank’s consolidated financial statem

Antilliaans Dagblad Accounting policies from which they have been derived. derived, are prepared in accordance with International Financial Reporting Standards (‘IFRS’). Changes in accounting policies been significantly impacted and remains at amortized cost. are de-consolidated from the date that control ceases. The following subsidiaries have been consolidated as of December 31, 2018: Investm

General 31-Dec-2018 31-Dec-2017 183,402 39,626 614,571 18,558 Basis of preparation 6,316 nearest thousand. 717,309 842 6,514 below. 7,489 24,221 - 756,375 7,774 18 18 24,817 73,489 106,098 Basis of consolidation 31-Dec-2018 31-Dec-2017 39,046 14,086 24,960 4,165 - - 4,165 509 depend on: 601 (i) 1,110 (ii

Dinsdag 23 april 2019 CONSOLIDATED BALANCE SHEET OF ORCO BANK N.V. (All amounts are expressed in thousands of Antillean Guilders) 127,393 12,717 681,301 16,978 5,567 843,956 862,473 719,346 175 6,263 9,021 734,805 7,774 27,558 73,801 109,151 Total shareho

Antilliaans Dagblad Cash and cash equivalents Investment securities Loans and advances to customers Bank premises and equipment Deposits from customers Amounts due to banks Deferred tax liabilities General provision on loans and leases Total net interest income Fee and commission income Fee and commission expense Total net fee and commission income Oth

Assets Other assets Total assets Liabilities Other liabilities Funds borrowed Shareholder’s equity Issued capital Share premium Retained earnings Interest income Interest expense Net trading income Total income Occupancy expenses Operating expenses Net result before tax Profit tax expense Assets Investment securities Total investments Net investments Retail custo

ANG 842 to ANG 175 and Other borrowings from ANG 24,221 to ANG 0.00. On the other hand, although in a competitive market and a market showing no economic growth, the Loans and advances to customers showed an increase from ANG 614,571 to loss model led to a decrease in total assets of ANG 2,526 and a decrease of the retained earnings of ANG 1,970 (net of deferred tax) as per 1 January

ADVERTENTIE ANG 681,301. The first time adoption of the IFRS 9 expected credit The increase in Net interest income to ANG 27,375 (10%), decrease of Interest expenses to ANG 11,568 (-18%) and increase of the Net expenses from ANG 24,510 to ANG 26,104, of which the Personnel Corporate Governance Structure is derived. It is based on a two-tier Management Board and the functioning of the Bank

December 31, 2018 Consolidated Financial Highlights Report of the Managing Board Orco Bank in 2018 continued to differentiate itself by offering tailor- made products throughout Curaçao, Bonaire and Sint Maarten. The regulatory laws and procedures, especially in the fields of compliance and corporate governance continue to increase and has put an increased strain on the operations of the B

> Introduction market. activities at Isla. consumer loans (2.6%). time-critical. Client Awareness Assessments. requirements. the credit facilities.
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