Maduro & Curiel’s Bank
Maduro’s Bank was the first commercial bank to establish in the former Netherlands Antilles. The bank opened its doors on December 16, 1916 in Willemstad, the capital city of Curaçao.
The establishment of the Shell Oil Refinery on the shores of the island’s great natural harbor, combined with the opening of the Panama Canal, made Willemstad a busy port on the world shipping routes. The resulting business expansion made then existing banking methods obsolete, for at that time financial transactions were handled by merchants and exchange houses.
Realizing the need for improved banking facilities, our founder, Mr. Joseph Alvarez Correa, fondly known as Shon Jojo, in association with the well-known trading company S.E.L. Maduro & Sons NV, opened the doors of Maduro’s Bank with an initial capital of ANG 1,000,000.- (the Netherlands Antilles guilder now equals approximately US$ 0.56). In 1932 Maduro’s Bank merged with Curiel’s Bank and Maduro & Curiel’s Bank was born.
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