Lobby claims €2.8bn for DSB bank 'victims'

Wednesday 27 January 2010

A group representing thousands of clients of DSB bank, which went bankrupt last year, is claiming €2.8bn in compensation from the curators winding up the bank's affairs, news agency ANP reports.

The lobby group, Stichting Hypotheekleed, claims clients were lured into expensive mortgages, loans and insurance policies by low interest rates and monthly repayments. But in the end, they were saddled with bills which were higher than the value of their home.

'These financial products were very damaging to DSB clients but very profitable to DSB itself,' the group's director Pieter Lakeman said in letter to the curators, which ANP has seen.

The organisation puts the damages at an average €47,000 for 21,000 people with a first mortgage at DSB, €27,500 for 21,000 people with a second mortgage and €8,200 for the 150,000 customers with a personal loan.

© DutchNews.nl

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