PHILIPSBURG:--- The Statia Government welcomes two major and complementary developments that will improve access to financial services on the island: ING’s intention to offer banking services to local businesses and private persons, and De Nederlandsche Bank’s (DNB) plan to install additional ATMs in 2025.
ING announced its intention to serve Statia and Saba
In an official statement issued earlier today, ING declared its intent to offer banking services to companies carrying out economic activity on Statia and Saba. The bank has also expressed the ambition to establish a physical office on each island. This announcement follows extensive discussions between ING, the Ministry of Finance, and De Nederlandsche Bank regarding the structural banking challenges in the Caribbean Netherlands.
“We are the bank for everyone, and we want to be there for all the Dutch,” said Peter Jacobs, CEO of ING Netherlands. “We therefore take our social responsibility to make banking accessible to residents on both these islands. We want to offer the residents a similar service to that to the residents on Texel.”
Although ING has begun preparations, providing banking services in the special municipalities involves complex regulatory and logistical considerations. A final decision is expected in the course of 2026. If positive, ING aims to begin service by the end of that year.
DNB to Improve Access to Cash with New ATMs
In a separate but closely aligned effort, De Nederlandsche Bank (DNB) has confirmed that additional ATMs will be installed in 2025, the first such installation facilitated directly by the central bank in the Caribbean Netherlands.
These ATMs will be managed by an international independent ATM deployer (IAD) and will support both local and international payment cards. Retailers who partner with the IAD will also gain access to cash deposit solutions.
Statia Government Applauds Progress
Island Governor Alida Francis described the dual announcements as a “transformative moment” for the island.
“Access to reliable financial services is vital, not only for our residents but for the resilience of our economy. We are pleased to see these long-standing issues being addressed at the national level.”
Commissioner of Finance, Reuben Merkman, commented:
“The establishment of a new bank in Statia marks a significant milestone, offering a unique opportunity to drive economic growth, promote financial inclusion, and unlock new economic possibilities for the island. More than just a financial institution, the bank serves as a cornerstone for economic empowerment, fostering community development and paving the way for sustainable growth. By providing accessible financial services, supporting local businesses, and creating avenues for investment, the bank has the potential to transform the island's financial landscape and empower its citizens, big and small. The future is bright! All of Statia is looking forward to the coming of this bank with high hopes. I would like to say, “thank God.”
Commissioner of Tourism, Rechelline Leerdam, added:
“This initiative is the result of decades of lobbying by the executive and legislative bodies of both Saba and Statia, through ongoing engagement with Members of Parliament and by consistently presenting our case to the relevant ministries. I want to thank all the Executive Council members and the Island Council over the last decade for their unwavering persistence in lobbying for additional banking services on the island. We are very happy to welcome this development as we diversify the economy. Especially amidst the strong boom in building requests from young locals, we hope this creates new opportunities to support their aspirations. Improved access to financial services is a necessary foundation for sustainable growth.”
In 2021, the Island council unanimously called for improved banking services. Today’s announcement results from persistent dialogue and collaboration with our partners in the European part of the Netherlands.
The Statia Government will continue to work with DNB and ING to support the successful implementation. In the coming months, further details, including ATM locations and service timelines, will be shared.
PORT ST. MAARTEN:--- In a significant development for St. Maarten’s cruise tourism sector, senior executives from Norwegian Cruise Line (NCL) recently met with Port St. Maarten Chief Executive Officer (CEO) Alexander Gumbs and Minister of Tourism, Economic Affairs, Transport & Telecommunication (TEATT), Grisha Heyliger-Marten.