WILLEMSTAD - The BOD Financial Group, in execution of its new strategic vision, has decided to cease activities in the jurisdiction of Curaçao and therefore the Banco del Orinoco NV, through its Shareholders' Meeting in session of September 3 of the current year, agreed upon the voluntary liquidation of the Bank and consequent cessation of the operations of said Financial Institution. This decision is due to the infeasibility of operating in that jurisdiction, for the following reasons:

1. Curaçao on a several occasions has been qualified by the various authorities as “one of the countries with the highest money laundering alert” in the region; as can be seen from the recent 2019 report published by the Department of State of the United States of America International Narcotics Control Strategy Report (INCSR);

2. The cessation of correspondent relations maintained by the Banco del Orinoco NV, due to the country risk represented by the island of Curacao, by virtue of the recurrent breach of the system of prevention of capital legitimation and financing of terrorism in that locality, which has influenced the impossibility of maintaining correspondents and local accounts by the foreign financial institutions.

This set of circumstances has limited the normal development of transfer operations, which has restricted payment management to customers of Banco del Orinoco NV and its suppliers of goods and services.

The BOD Financial Group guarantees that the assets of Banco del Orinoco NV are superior to its liabilities and the integrity of those assets has been evaluated by the most important global audit firms acting as independent auditors, so all deposits and investments will be completely honored to our clients in the liquidation process.

The sixteen institutions that make up the BOD Financial Group, which operate in Latin America and the Caribbean, have the mission and commitment to continue providing financial services in accordance with a strategic vision in constant expansion and growth, respecting our corporate values oriented to the benefit of our clients.