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History

Maduro & Curiel's Bank, the island's first commercial bank.
Maduro & Curiel's Bank, the island's first commercial bank.

History of our Bank

On July 10, 1916, Joseph ‘Shon Jojo’ Correa of Correa Hermanos & Co (founded in 1871) wrote a letter to his in-laws of the Maduro family of the firm S.E.L. Maduro & Sons (founded in 1837), suggesting that they jointly start a commercial and monetary exchange bank. On December 21, 1916, the Governor of Curaçao issued an ordinance approving the establishment of the corporation Maduro’s Bank. The bank was legally established on December 27, 1916.

On January 2, 1917, the new locally rooted Bank was opened for business and has been ever since. Maduro’s Bank grew and expanded. It kept pace with the rising tide, but it also had to decrease that speed when things slowed down due to the Great Depression in the late 1920s. Out of that crisis came the merger with the Curiel’s Bank (founded in 1927 by Morris E. Curiel & Sons). 

At the beginning of 1932, Maduro & Curiel’s Bank, MCB, came into being – a quality brand still standing strong as the largest Bank and a financial institution that is truly your trustworthy Bank. The Bank quickly spread its wings to the other islands: first to Aruba, in association with the Eman family in Aruba Bank and later incorporating its own Caribbean Mercantile Bank N.V.; in St. Maarten where it opened The Windward Islands Bank, Ltd. in 1960; Maduro & Curiel’s Bank (Bonaire) N.V. came in 1962, later to be followed by branches in St. Eustatius in 1993 and Saba in 2008. 

In 1970 Maduro & Curiel’s Bank welcomed Bank of Nova Scotia as its new affiliation, nowadays about 49% shareholder which continues to be a highly valued partnership.

Since 1988 Maduro & Curiel’s Bank has a Representative in the Netherlands and in September 1998 we opened our Representative Office in Amsterdam.

 

In addition to its deeply rooted presence in each of these communities, MCB has been serving – even long before it started its official banking operations on these islands – the intertwining relations, creating interesting opportunities for its employees to work on islands that are not always their place of birth.

This is what helps to make the MCB Group even more solid and effective as the leading financial

organization on all six Dutch Caribbean Islands. 

 

A Unique Bank:

Maduro's Bank was the first commercial bank to establish in the Dutch Caribbean - in those days referred to as the Netherlands Antilles. 

 

Maduro & Curiel’s Bank Group:

 

Maduro & Curiel’s Bank Group is a privately held Bank, which was established in 1916 as the first commercial Bank in the Dutch Caribbean and continues to be the leading financial institution there. 

Maduro & Curiel’s Bank Group is affiliated, since 1970, with The Bank of Nova Scotia, Canada’s most international financial institution, which serves over 23 million customers around the world. MCB also maintains a network of correspondent banks throughout the world, which includes representation in all of the world’s money centers.

Maduro & Curiel’s Bank Group prides itself on extending personal and customized financial services to its personal and commercial clients through its network in Curaçao, its subsidiaries in Aruba (Caribbean Mercantile Bank N.V.), St. Maarten and St. Eustatius (The Windward Islands Bank Ltd.), and Bonaire (Maduro & Curiel’s Bank Bonaire N.V.) and through its Representative Office in Amsterdam.

Maduro & Curiel’s Bank Group believes that its clients and communities deserve to be provided continuously with the most innovative services and products in personal, private and commercial banking and in investment and insurance services.

Maduro & Curiel’s Bank Group provides financial services at the highest level of integrity and maintains strict guidelines for ethical business conduct which the Bank, all of its executives and staff must comply with. These include strict adherence to principles of client confidentiality and to regulations to combat money laundering and terrorist financing.

Maduro & Curiel’s Bank Group is the largest private sector employer in the Dutch Caribbean and offers its employees good working conditions, opportunities for growth, equitable income and ample social benefits, security of employment and the opportunity to own part of their Bank.

Maduro & Curiel’s Bank Group serves its shareholders by providing them with a fair and equitable return on their investment and strengthening of their Bank by continuously adding to its reserves.

Maduro & Curiel’s Bank Group believes that sounder communities provide a healthier environment in which to grow and work and is committed to using its human and financial resources towards the goal of enhancing the well-being of the peoples of all of the islands on which it does business.

Maduro & Curiel’s Bank Group welcomes your inquiries, directed to our President, on any subject in connection with our Bank.