~CBCS ended 2023 with a profit of NAf 148,474~
WILLEMSTAD/PHILIPSBURG:--- The Centrale Bank van Curaçao en Sint Maarten (CBCS) has released its 2023 Annual Report, providing a comprehensive overview of its governance, strategy, operations and finances as of December 31, 2023. The report concludes that the CBCS ended 2023 with a profit of NAf 148,474.
The CBCS’s 2023 results show a strong increase in the net interest income of NAf 29,8 million compared to 2022, in line with the increase in international interest rates. Supervisory income has decreased with NAf 1,1 million to NAf 10,4 million. On the expenditure side, costs have developed roughly in line with inflation.
To optimize its reserves and long-term income, the CBCS sold 29,7% of its gold reserves in December 2023 and January 2024, whereby the proceeds were used to invest into US Treasury bonds and the realized capital gain is kept as part of its appropriated reserves. The transaction has, therefore, no influence on the total reserves of the CBCS, but the respective investment will result in higher income and results for the CBCS going forward.
For more detailed insights, the full 2023 Annual Report is available on the CBCS website: www.centralbank.cw/publications/annual-report.
Willemstad, December 30, 2024
CENTRALE BANK VAN CURAÇAO EN SINT MAARTEN
