topics
tools
Expatica countries
Index Last Var.(%)
BEL 20 2270.63 -0.42
DAX 6788.8 0.59
IBEX 30 8902.1 0.60
CAC 40 3424.71 0.43
FTSE 100 5895.47 0.33
AEX 325.12 -0.06
DJIA 12890.46 0.05
Nasdaq 2927.23 0.39
FTSE MIB 16653.83 -0.09
TSX Composite 12497.94 -0.18
ASX 4336.6 -0.47
Hang seng 20958.98 -0.24
Straits Times 2987.79 0.22
ISEQ 20 503.71 0.33
You are here: Home News Dutch News Banking sector needs to change mentality

Dutch News

archive
Enlarge font Decrease font Text size


07/04/2009Banking sector needs to change mentality

To regain public confidence, banks in the Netherlands need to place the customers’ interest over shareholders and employees.

THE NETHERLANDS – The banking sector needs to change its mentality drastically if it wants to regain public confidence, says the Advisory Committee on the Future of Banks in a report published on Tuesday.

The research, which was commissioned by the Dutch banking association NVB, concludes banks need to place the customers’ interests over shareholders and employees.

This requires a 'fundamental change in mentality', the report states. By serving their clients properly, banks can win back lost trust, the report says. The crisis has damaged confidence in the economic role of banks, but also raised questions about their ethical and moral outlook.

The advisory committee was first appointed in November 2008 to advise the banking sector on the mistakes that could be learned from the financial crisis.

The report recommends that banks should not be allowed to hand out shareholders and pay bankers’ bonuses. A “bankers’ declaration” on banking ethics should be drawn up and signed by bankers who would promise to perform their duties with care and integrity.

The committee also wants pay policy in the banking sector to be revised and top bankers’ earnings to be slightly lower than the average income for equivalent posts within and beyond the financial sector.

Other recommendations include a stronger role for the boards of commissioners, which supervise the banks' boards of directors.

Radio Netherlands / Expatica


1 reaction to this article

ratkat posted: 2009-04-07 17:56:47

>>>>By serving their clients properly, banks can win back lost trust....

I would hope the concept of "serving clients properly" would extend to ANY business - if the financial crisis helps achieve this, it may not be such a bad thing after all....

Add a comment

General rating: Not rated yet

Rate article:    Add my rating


1 reaction to this article

ratkat posted: 2009-04-07 17:56:47

>>>>By serving their clients properly, banks can win back lost trust....

I would hope the concept of "serving clients properly" would extend to ANY business - if the financial crisis helps achieve this, it may not be such a bad thing after all....

Add a comment
Discussion Forums

Legal Problems in the Netherlands

KM partner can be treated as EU memeber in paying tuition fee?

Student Forum The Netherlands

Uni fees - questions

Legal Problems in the Netherlands

Problem with Internet Provider

Legal Problems in the Netherlands

KM -> PR -> Citizenship

Legal Problems in the Netherlands

Stopping Naturalisation Process

participate in the forums

Inside Expatica
Setting up home in the Netherlands

Setting up home in the Netherlands

A guide to telephone, internet and television along with utility services water, electricity and gas in the Netherlands.

Dutch immigration and residency regulations

Dutch immigration and residency regulations

Lost in the Dutch immigration system? Look no further than this guide compiled for our Survival Guide 2012.

A brief introduction to the Netherlands

A brief introduction to the Netherlands

Expatica offers a whistle-stop tour of life in the modern Netherlands.

Giving birth in the Netherlands

Giving birth in the Netherlands

The challenges and benefits of the maternity system in the Netherlands and how it differs to other countries.