Future of DSB bank decided this morning

Amsterdam district court will rule on Thursday morning whether DSB bank should be declared bankrupt or whether there is hope for a re-start.

However, the chance of the independent bank being taken over is ‘extremely slim’ according to most of the Dutch papers this morning.
DSB is in financial trouble because more than €600m in savings has been withdrawn since the beginning of the month following a campaign by angry customers who say they were oversold mortgages and insurance policies.
The curators, who were appointed on Monday, went to court on Wednesday evening to have the bankruptcy formalised. According to the Volkskrant, they had spoken to several companies interested in taking over DSB but all pulled out.
Staff in tears
Some 200 DSB staff were at Wednesday night’s hearing to show their support for the bank. News of the impending bankruptcy has hit staff hard with many leaving the bank’s headquarters in Wognum in tears after being told of the court hearing, the Volkskrant said.
Support is high for the bank’s boss Dirk Scheringa, the Telegraaf reports. ‘He is our employer and I have worked for him with pleasure for years,’ one worker said. ‘I would have stayed there till my pension. So you can imagine how it feels.’
‘Mistakes have been made but the situation now is totally out of proportion,’ said another.

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