NewB Cooperative Bank: Offering Shares to New Members and Searching for a CEO

2023-06-11 14:07:50

The NewB cooperative bank project will offer from tomorrow/Monday the possibility for interested parties to become a cooperator and is looking for a new CEO, she said on Saturday following a general meeting.

Having become the online banking agency of the Vdk bank following financial problems, NewB had not been able to collect the additional 40 million euros required by the National Bank at the end of last year to enable it to keep his banking license. The cooperative then entered into an agreement with Vdk Bank allowing it to remain active throughout the country. The NewB members approved this operation last January.

Some 25,000 NewB customers thus became Vdk customers, but 3,000 refused to do so. NewB has now become Vdk’s digital agency for French-speaking Belgium. Dutch-speaking customers of NewB have become standard customers of Vdk. Furthermore, NewB remains the broker of the French insurer Monceau.

After all these changes, NewB decided to reopen its capital to new cooperators. The sale of shares had been suspended during the dismantling of banking activities. “The many citizens who had shown their support for NewB but who were not yet cooperators can now become one. From June 12, people who do not yet own shares can do so by acquiring one share per person at a price of 20 euros.“, according to a statement from the company.

The internal direction is also modified. Six members of the board of directors are leaving their position, including CEO Thierry Smets. In the meantime, administrator Koen De Vidts will act as interim manager.

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