The financial settlement of the DSB bank's affairs could take between five and ten years.

The bank's administrators are compiling an inventory of the bank's assets and the causes of the bankruptcy. In their first report, they say the Dirk Scheringa Museum and DSB's sports' interests could only be financed from the bank's profits and that is why they are bankrupt.

They also announced that the bankrupt bank's assets would be sold in the first half of next year, and creditors would receive payment in the second half of the year.

The administrators also say victims of the bank's dodgy single premium insurance policies could not be helped collectively and would have to be dealt with on an individual basis.

The fall of the bank was precipitated by the chairman of one of the foundations representing this group. At the time Pieter Lakeman said he would prefer to deal with administrators than Mr Scheringa.

The report revealed that DSB had 250,000 euros in savings accounts and that customers had a total of 3.6 billion euros in the bank. The DSB bank had lent 7.1 billion euros to 150,000 customers.

Photo: DSB bank - ANP