Dutch banker rises from the ashes of bankruptcy

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The Dutchman whose private bank crashed dramatically in 2009 is making a comeback in the world of finance. Former DSB boss Dirk Scheringa is launching a new company next month called DS Factoring, according to its website.

The new company will target small and medium-sized businesses which are owed money by their clients. DS Factoring will offer them a sum lower than that owed and make a profit by collecting the outstanding debts.

Dirk Scheringa will not require permission from the Dutch central bank. He claims to have enough working capital to start business on 3 October.

DSB collapsed in October 2009 after an organisation of disgruntled customers, the Mortgage Distress Foundation, called for a run on the bank.

© Radio Netherlands Worldwide

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