APC Bank becomes sole shareholder of PSB Bank

PHILIPSBURG--The Algemeen Pensioenfonds Curaçao Bank NV (APC Bank) will soon become the sole shareholder of PSB Bank in St. Maarten.
In the coming days, PSB Bank will conclude a transaction whereby its shares will be transferred to APC Bank. “With this shares transfer to APC Bank N.V., a wholly- owned subsidiary of Algemeen Pensioenfonds Curaçao (APC), APC Bank N.V. will become the sole shareholder of PSB Bank.”
This process is almost completed and the purchase agreement is expected to be signed in the coming days. The transfer will provide an opportunity for PSB Bank to become a solid participant in the financial market by obtaining the general banking licence and offering within the foreseeable future more banking products: such as chequing accounts, online banking, foreign-exchange transactions, debit and credit cards and Automatic Teller Machine (ATM) services.
“These services will undoubtedly provide additional benefits for PSB Bank’s clients. Accordingly, there should be no doubt about PSB Bank at this moment, with the upcoming alliance with a solid, reputable pension fund,” it was stated in a press release.
The share-transfer process is also being effectuated under the applicable regulatory supervisory regime in order to guarantee its successful conclusion in the interest of all stakeholders. PSB Bank’s management thanked clients for their support and confidence in the bank and congratulated clients in advance on the upcoming alliance.

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CFT warns St. Maarten that loan is illegal

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