The Dutch central bank (DNB) plans to cut its budget by 10% in the coming years as part of a wider push to become more efficient in a period of geopolitical tension and financial uncertainty.

Speaking at an internal meeting on Monday, bank president Olaf Sleijpen said the savings – around €60 million – are needed to keep the bank’s costs in 2030 the same as today.

The programme, known as DNB 2030, will include job losses and a reorganisation within the institution, he said.

The plans build on the bank’s 2025–2028 strategy, adopted last autumn, which places a strong emphasis on cost awareness. The bank’s budget has risen sharply since 2020 to €576 million, driven by new legal responsibilities and several years of high wage and price inflation.

Sleijpen said the changes are intended to sharpen DNB’s focus on its core duties and make supervision more results-oriented.

“We are convinced that our change programme will contribute to a central bank and supervisory authority that can continue to carry out its core tasks in rapidly changing times,” he told staff.

These tasks include maintaining price stability, supervising a healthy and ethical financial sector, ensuring effective and secure payment systems, and safeguarding financial stability in the Netherlands.

He acknowledged that the reorganisation will have a “significant impact” on staff and said the process will be carried out with care, “with attention to employees and the quality of our work”.

The bank has an existing social plan, and the works council, trade unions and the UWV have been informed about the intended reorganisation, the bank said in a statement.