Outdated browser

You are using an outdated browser. DNB.nl works best with:

Fine for Aegon Bank N.V. for insufficiently managing credit risks

Enforcement measures

De Nederlandsche Bank N.V. (DNB) imposed an administrative fine on Aegon Bank N.V. (Knab) on 5 February 2024 because Knab failed to adequately manage credit risks within a part of its consumer and SME loan portfolio during the period from 11 February 2019 until at least 25 March 2022. In doing so, Knab was in non-compliance with the requirement to ensure sound operational management pursuant to the Financial Supervision Act (Wet op het financieel toezicht – Wft).

Published: 20 February 2024

DNB Toorop aan het water


DNB issued an instruction to Knab in 2019 detailing the supervisory authority’s finding that Knab did not have adequate policies in place to enable it to manage its credit risks stemming from loans originating on online lending platforms, among other findings. Credit applicants and providers are brought together on such online platforms to borrow and lend money. In 2022, DNB conducted an additional examination of Knab’s management of its credit risks associated with these loans. This examination revealed that Knab was still inadequately managing the credit risks associated with these loans and that it therefore remained in non-compliance with Section 3:17 of the Wft.

Under the Wft, financial institutions must ensure controlled and sound conduct of business, thus enabling them to manage relevant risks. In the case of Knab, the risks involved were those associated with the loans it provided through lending platforms. Inadequate management of these risks could have resulted in losses which Knab had not factored in and which could have negatively impacted the institution’s soundness. DNB notes that there is no evidence that these risks have actually materialised.

Since DNB’s examination, Knab has taken steps to mitigate the mentioned credit risks.

Administrative fine

The administrative fine for Knab’s non-compliance with the Wft has been set at €2,968,750, in accordance with the DNB General fine calculation policy (Algemeen boetetoemetingsbeleid DNB).

In setting the fine, DNB has taken into account that Knab had already received an instruction for this non-compliance in 2019. DNB considers it essential that institutions comply fully with instructions imposed on them. In addition, DNB views it as positive that Knab has taken remedial measures, including reducing the portfolio it holds with lending platforms and maintaining an additional buffer to mitigate the credit risk arising from this portfolio.

Lodging an objection

Knab has six weeks from receipt of notification of the fine to lodge an objection.

Read the full decision below (in Dutch), excluding confidential information. For further information, please contact DNB’s Information Desk at telephone number 0800 - 020 1068 (free of charge) or +31 20 524 9111 (if calling from abroad).

You can swipe the table to see more columns.




Further appeal



Decision on objection


Decision given


Decision given

5 February 2024







Discover related articles