FirstCaribbean Bank and ABN AMRO announce today that First Caribbean intends to acquire ABN AMRO’s international banking and asset management activities in Curaao, the Netherlands Antilles. Completion of the acquisition is subject to the regulatory approval by the central banks of Curaao and Barbados.
ABN AMRO’s businesses in Curaao include the ABN AMRO Curaao Branch operations and ABN AMRO Asset Management business. The choice of FirstCaribbean Bank, the largest publicly-traded bank in the English-speaking Caribbean, as purchaser is based on its reputation and commitment to offering services in wealth management banking in the region. ABN AMRO is confident that FirstCaribbean Bank will be a solid ongoing partner for its Curaao clients.
ABN AMRO’s decision to sell the activities follows its strategy which has a different focus. The Curaao businesses which are focused on the trust and off shore private client segment will be a better fit with a dedicated and specialised financial services provider focused on international banking in the region.