Like other banks, Volksbank also benefited from a lot of interest income last year. The company behind ASN Bank, SNS and RegioBank has seen its profits more than double.
This is evidenced by the numbers published by the company on Friday. Bottom line, De Volksbank had €431 million remaining over the last year. This is more than double the previous year's profit of 191 million euros.
As mentioned, interest income played an important role. Recently, the same banks have been receiving more and more interest when they deposit money with the European Central Bank. This has now risen to 4 percent.
At the same time, banks have increased interest rates on savings, for example, less sharply. For example, you can get a maximum of 1.7 percent on your savings at de Volksbank. You can get more on deposit. This angered many Dutch people and politicians.
Tubman announced his departure
Banque de Volks CEO, Martin Grebenau, announced last December that he would leave his position in April. Risk manager Jeroen Digest also left at that time.
Last year, it was also announced that the bank had been reprimanded by De Nederlandsche Bank, which found that its anti-fraud and anti-money laundering policy was inadequate. The company has now taken action and expects things to be fine within a few months.
De Volksbank has been state-owned since 2013. Former Finance Minister Sigrid Kaag stated a year ago that she would likely make a decision on the sale of the bank in 2023. But so far there has been no talk of a possible sale.
