De Nederlandsche Bank (DNB) strives to be an organisation that is agile, decisive and efficient in carrying out its tasks. This is necessary in a world rife with geopolitical tensions and uncertainty, accompanied by risks to financial stability. To continue meeting these challenges effectively, DNB plans to cut its budget by 10% in the coming years to keep costs at current levels in 2030.
© DNB
Achieving this aim will require budget cuts of around €60 million over the next five years. Job losses will be part of the cutbacks.
President Olaf Sleijpen announced this intention at an internal meeting at DNB’s headquarters on Monday. The ‘DNB2030’ change programme is aimed at ensuring that DNB is ready for the future. The central bank intends to rein in costs, while sharpening its focus on its core tasks and pursuing a more results-oriented approach to supervision of the sector.
The change programme involves an internal reorganisation and derives from DNB's strategy for 2025-2028, adopted last autumn. Cost awareness is a key component of this strategy. DNB’s budget has increased sharply since 2020, to €576 million, partly due to new statutory tasks and a period of high wage growth and inflation.
DNB President Olaf Sleijpen said: “In these fast-changing times, we are convinced that our change programme will enable us as a central bank and supervisory authority to continue to fulfil our core tasks: ensuring stable prices, monitoring a sound and ethical financial sector, promoting an effective, safe and efficient payment system and financial stability in the Netherlands. We acknowledge that the change programme will have a major impact on our people. We will carry out the entire process diligently, always remaining mindful of our employees and the quality of our work.”
DNB has a redundancy plan in place. The Employees' Council, trade unions and the UWV Employee Insurance Agency have been informed about the DNB2030 change programme and the proposed reorganisation.
Media representatives can contact Bouke Bergsma by email at bouke.bergsma@dnb.nl or by telephone at +31 653 258 400.
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