DSB Bank owner-director Dirk Scheringa is reported to be considering a plan that would offer his ailing bank help from savers.
The plan would call for savers to convert a portion of their savings into shares in a bid to lower the DSB’s debts. The scheme was unveiled by financial expert Adriaan Dorrepaal on Saturday evening on the television programme Nova. Savers would provide 70 million euros. Mr Scheringa would then match that amount.
Earlier on Saturday, Jelle Hendricks of the Support Fund for Problem Mortgages Foundation, told Dutch public-service broadcaster NOS that Mr Scheringa was holding talks with a United States concern about a possible takeover of DSB. The concern in question is rumoured to be the Texas-based Lone Star Investments company, which has a history of buying up failing banks.
Mr Hendrickx said the new savers’ plan should prove more advantageous to DSB customers with high interest because they would be certain to lose their money if the bank went under.
But for such a plan to become reality, it would first have to have the support of the Dutch central bank. Two weeks ago, the central bank lowered the maximum credit for DSB by 800 million to one billion euros and the plan can only go ahead if that decision is reversed.
It would also require an Amsterdam court to extend a deadline it imposed on Mr Scheringa to find a buyer for the bank. On Friday, the court gave him until nine o'clock on Monday morning to find a company to take over DSB. If he fails to do so, the bank will be declared bankrupt.
For this reason, Jelle Hendrickx urged as many DSB clients as possible to demand an extension to the deadline from the judge.
Photo of DSB logo by ANP