WILLEMSTAD – Maduro & Curiel’s Bank (MCB) has reported a net profit of over 208 million guilders for the 2024 financial year — nearly double the 114 million guilders it recorded in 2023. The sharp increase is primarily attributed to significantly higher interest income and a strong rise in customer deposits, signaling growing public trust in the bank.
According to MCB’s newly published consolidated annual report, total assets grew to over 8.6 billion guilders by the end of 2024 — an increase of more than 500 million guilders compared to the previous year. This growth was largely fueled by a surge in client deposits, which rose from 7.5 billion to almost 8.2 billion guilders.
Strong Financial Ratios Reflect Sound Management
One key indicator in the report is the loan-to-deposit ratio, which stood just below 39 percent in 2024. This means that for every ten guilders deposited by customers, fewer than four were lent out — a sign of conservative lending practices and a robust liquidity position. The remainder of the deposits remains available for reserves, investments, or meeting other financial obligations.
MCB’s net interest income — the difference between interest earned on loans and interest paid on deposits — increased from 226 million guilders in 2023 to nearly 285 million in 2024. The bank also saw growth in income from fees and commissions, while managing to limit personnel expenses to just over 120 million guilders.
Operational efficiency also contributed to the positive results. Write-offs on financial assets declined, meaning the bank experienced fewer losses on loans and investments deemed at risk of default. Overall operating income before tax reached over 265 million guilders.
Resilience in a Challenging Environment
The financial statements were audited by Ernst & Young Dutch Caribbean, which issued an unqualified approval, confirming the accuracy and reliability of the bank’s reported performance.
MCB emphasized in its commentary that sound risk management, strong liquidity, and ongoing investment in digital transformation remain top priorities for 2025. The bank also pointed out that other operating costs remained stable, further strengthening its financial resilience.
Outlook for 2025
Looking ahead, the MCB Group remains cautiously optimistic. While external challenges such as global geopolitical tensions and persistent inflation continue to impact the Caribbean region, MCB believes its solid financial foundation positions it well for continued sustainable growth.
The bank stated that it plans to further invest in digital innovation, risk mitigation, and customer service excellence in 2025. With enhanced solvency and a stable cash position, MCB is prepared to remain agile amid shifting regulatory landscapes and economic developments in the region.
As the largest financial institution in the Dutch Caribbean, MCB’s 2024 performance reflects not only the strength of its operations but also the confidence of its customer base in times of global uncertainty.
