On 3 July 2013 the Dutch business and financial newspaper Het Financieele Dagblad published a submitted article by Gerard van Olphen, CEO of SNS REAAL and Ernst-Jan Boers, Chairman of SNS Retail Bank. In this article they argue that SNS REAAL likes to respond to the appeal of the Wijffels Committee to have a civil statute as starting point for the provision of financial services. SNS REAAL will present the statute at the end of the summer. Furthermore, they point out that they see Bouwsparen as an important pillar to come to a more stable housing market in the medium term, as does the Wijffels Committee.

Within SNS REAAL, SNS Bank (the 4th largest bank of the Netherlands), ASN Bank (the 5th bank), RegioBank (6th) and BLG Wonen (9th) work together from a manifesto of principles that bind these banks. The principles of that manifesto (the civil statute) go back to the principles of utility banking. Not surprising for these four banks with strong social roots and a history that goes back nearly two hundred years.

Saving precedes borrowing

SNS REAAL sees Bouwsparen, a form of home financing, whereby saving precedes borrowing, as an important pillar to come to a more stable housing market in the medium term, as does the Wijffels Committee. Partly for this reason, the Zilvervloot Sparen savings account for children and adolescents was reintroduced. Young people have thus built up savings at the time they enter the housing market. Banks should reflect on their usefulness, their added value in our society. They must return to banking as it was intended, but with a more contemporary feel.

You will find the full article here (in Dutch).

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