De Volksbank launches transformation programme to increase operational strength
When presenting its interim figures on 9 August 2024, de Volksbank announced that it would simplify and improve its business model and processes to strengthen the bank commercially and operationally. Simplifying and thus making its organisation structure and processes more efficient should enable the bank to better serve its 3 million customers, improve its data quality and IT systems, structurally comply with the increasing regulatory burden and achieve cost savings. In doing so, de Volksbank continues to build a future-proof, strong bank with a distinctive social profile.
To achieve this, the Executive Committee of de Volksbank has set up a transformation team that will look at, inter alia, the possibilities to rationalise the brand portfolio and simplify the organisation structure. Based on an analysis, this team will develop scenarios and plans, make calculations and identify interdependencies in preparation for decision making. After consultation with relevant stakeholders, de Volksbank expects to be able to take decisions before the end of 2024.
