DSB Bank
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| Former type | Private |
|---|---|
| Industry | Financial services |
| Fate | Declared bankrupt by a Dutch court. |
| Founded | 1975 |
| Defunct | 21 October 2009 |
| Headquarters | Wognum, Netherlands |
| Key people | Dirk Scheringa Founder & Owner |
| Products | Banking Insurance Credit |
| Revenue |  €216.2 million (2005) |
| Net income | €45.28 million (2005) |
| Employees | 2000 (2013) |
| Website | www.dsbbank.nl |
DSB Bank (DSB: Dirk Scheringa Beheer) was a Dutch bank and insurer. The company was founded in 1975 by Dirk Scheringa, a former police officer. It was originally called Buro Frisia, but in 1998 the DSB Groep was founded which included Buro Frisia. On 19 October 2009, the Amsterdam court declared DSB Bank to be in bankruptcy.[1]
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[edit] Overview
The most important divisions of DSB Groep were DSB Bank for banking and savings products, and DSB Direct for credit services. The latter was known by a number of different names, such as Becam, Postkrediet, lenen.nl and Frisia Financieringen. The company was also known for sponsoring Dutch Association football club AZ and its stadium as well as a Dutch ice skating team.
[edit] Bankruptcy
Because of urgent financial problems DSB Bank was placed under supervision of De Nederlandsche Bank by court order on 12 October 2009.[2] On 19 October 2009, the Amsterdam court declared DSB Bank to be in bankruptcy.[1] On 21 October 2009, parent company DSB Beheer was declared bankrupt by the Alkmaar court, marking the end of the network of businesses under the DSB flag.[3]
The failure followed the withdrawal of €600 million by depositors in 12 days, equivalent to about a quarter of the bank's assets.[4][5] [6] [7]
[edit] References
- ^ a b Faillissement DSB uitgesproken (in Dutch)
- ^ Dutch Seize Bank After Run on Assets, The Wall Street Journal Europe, 12 October 2009
- ^ Ook DSB Beheer failliet verklaard (in Dutch)
- ^ BBC reports: Dutch central bank takes over DSB 12 October 2009, Depositors bring down Dutch bank 24 October 2009.
- ^ "Court gives Dutch bank DSB last chance to find a buyer"
- ^ "Court declares Dutch bank DSB bankrupt"
- ^ "DSB mother company declared bankrupt"
[edit] External links
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