In the first half of 2025, ASN Bank made a lot of profit as a result of the reorganization. The costs for scrapping jobs, closing offices and merging brand names are heavy on the results.
ASN Bank, part of the nationalized Volksbank, has been working on a major reorganization since the end of 2024. In the meantime, 700 of the 4,500 have been canceled, branches are closed and work is being done on the disappearance of brand names such as SNS and RegioBank.
In the long term, the reorganization must yield around 70 million euros annually, but provided an extra cost of 11 million euros in the first half of this year. The net profit of the bank fell by more than 40 percent to 138 million euros.
In addition to the reorganization, ASN also works on improving risk management and anti -money laundering controls. At the beginning of this year, the bank received fines of a total of 20 million euros from De Nederlandsche Bank due to serious shortcomings in that area. According to ASN, the recovery process is “according to schedule”, although it sometimes leads to discomfort for customers who have to provide extra data.
The government will remain the owner of ASN Bank for at least a year. A planned privatization is delayed. According to the outgoing cabinet, the bank is not yet ready for this, partly due to necessary IT adjustments and further completion of the recovery program.
ASN Bank recorded significant less profit in the first half of 2025 as a results of the reorganization. The Costs of Cutting Jobs, Closing Offices and Merging Brand Names Are Weigh Heavily On The Results.
ASN Bank, Part of the Nationalized Volksbank, Has Been Undergoing a Major Reorganization Since the End of 2024. In the Meantime, 700 of the 4,500 Have Been Cut, Branches Have Been Closed and Work Is Being Done To Eliminate Brand Names And Regiobank.
The Reorganization Should Ultimately Yield Around 70 Million Euros Annually, But Resulted in an additional Expense of 11 Million euros in the first half of this year. The Bank’s Net Profit Fell by More than 40 percent to 138 Million euros.
In Addition to the Reorganization, ASN is also working on improving Risk Management and Anti-Money Laundering Controls. At the Beginning of this year, the Bank Received Fines totaling 20 Million Euros from De Nederlandsche Bank Due to Serious Shortcomings in That Area. Accordance to ASN, The Recovery Process is “On Schedule”, Although It Sometimes Leads to Inconvenience for Customers Who Have To Provide Additional Information.
The Government Will Remain the Owner of Asn Bank for At Least Another Year. A Planned Privatization is Delayed. Accordance to the outgoing cabinet, The Bank is not yet ready for this, partly due to necessary it adjustments and further Completion of the Recovery Program.