2024 Progress report of NLFI
On 1 July 2024, Steven van Weyenberg, outgoing Dutch Minister of Finance, sent a letter to the House of Representatives regarding the new progress report of NLFI, our shareholder. The main conclusions are: de Volksbank is facing challenges in achieving the growth priorities of the strategy. At the same time, there are important operational focus areas. The initiatives deployed to improve our operations, particularly in the area of customer integrity, data management and data quality and our IT foundation, have been given high priority to strengthen the bank’s operational and financial robustness. Also in the context of decision-making on the future of the bank.
We recognise the observations and views expressed in said report. It gives a clear view of our progress and of the challenges and objectives for the period ahead. We acknowledge the importance of achieving our strategy, in which respect the diversification of the revenue side is a key focus area. From a business perspective, the implementation of new laws and regulations, the fulfilment of our gatekeeper role, further improving IT and cost control, have our attention and priority.
We continue to focus on further strengthening the operational and financial robustness of the bank we keep our focus on the rapid implementation of the strategy and priorities. Against this background, we are also working on the elaboration of our strategy for the post-2025 period. We will gladly continue our dialogue with NLFI on our future, so that we may continue to contribute to the diversity of the Dutch banking landscape as a systemic bank with a social profile.
On 9 August, when we present our interim financial results for 2024, we will report on the financial progress and on the achievement of our strategic objectives.
Both the Minister of Finance’s letter and NLFI’s report can be found on the website of the Dutch House of Representatives (available in Dutch only).
