DNB’s historical links to slavery

DNB commissioned Leiden University to conduct an independent historical study on the bank’s involvement in slavery from its founding in 1814 until abolition in 1863. The study shows that DNB was involved in Dutch colonial slavery in three different ways.

DNB's first capital providers 

Part of DNB's start-up capital came from business owners with direct interests in plantation slavery in the Atlantic region, for example in Suriname. Of the 16 initial major capital providers, 11 have now been directly linked to slavery. 

DNB's indirect involvement in slavery as an institution 

As an institution, DNB was indirectly involved in Dutch colonial slavery and slavery in non-Dutch areas, such as British Guiana, starting in 1814. When providing services, DNB made no distinction among its customers between those who were involved in slavery and those who were not. Having no branches in the colonies, the bank played no role in the day-to-day slavery-related financial transactions there. DNB did support the Ministry of Colonies in its daily payment transactions. DNB also provided services to trading houses involved in slavery. 

Personal involvement of DNB presidents and directors 

To a greater extent than their contemporaries, several prominent DNB officials were involved in colonial slavery in a private capacity, not in their capacity as DNB officials. For instance, several of them were directly involved in business ventures related to slavery and some were also involved in the management of plantations. Some were also active in organisations representing the political interests of owners of enslaved people, alongside their work for DNB. Only one or two were involved in efforts to abolish slavery.

De Nederlandsche Bank acknowledges its involvement in the Transatlantic trade in enslaved people from 1814 to 1863. On 1 July 2022 – Keti Koti – DNB apologised to all descendants of enslaved people in the Netherlands, Suriname, Bonaire, Sint Eustatius, Saba, Aruba, Curaçao and Sint Maarten for our involvement in slavery. Acknowledging the suffering, together with these apologies, is essential for learning from our historical links to slavery and applying those lessons as we move forward together with those who still bear the consequences of the legacy of slavery today.

We have allocated €5 million for one-off contributions to projects aimed at education and the preservation of historical heritage. The projects chosen focus on raising awareness about the historical legacy of slavery among a wide target audience. Our aim is to make a financial contribution in each of the seven geographical areas within the Kingdom of the Netherlands, and in Suriname. So far, contributions have been made to five projects. It is no longer possible to propose new projects for geographical areas where one-off contributions have already been granted. 

Contributions to local initiatives

In addition, the DNB Fund was established in cooperation with the Culture Fund for local initiatives by descendants of enslaved people. These are initiatives aimed at reducing the impact of the historical legacy of slavery on the daily lives of descendants of enslaved people. From 2023 to 2033, DNB will pay €500,000 annually into this fund.