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PB 2022-018 Banking sector weathers pandemic storm

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Press release 2022-018

Banking sector weathers pandemic storm
CBCS remains vigilant with regards to the outlook

Willemstad/Philipsburg – The banking sector of Curaçao and Sint Maarten proved to be resilient and able to withstand shocks, despite the challenging macro-economic conditions caused by the pandemic. The impact of the pandemic was unevenly distributed across the different segments of the economy, which was visible in the asset quality of the banks. Although the solvency position of the banks remained stable, the Centrale Bank van Curaçao and Sint Maarten (CBCS) is concerned about latent credit risk and will remain vigilant. The Financial Stability Report, published by the CBCS, describes the main vulnerabilities associated with the local banking sector.

Last updated: 06.12.2022 11:12