Wallonia showers the last hopes of NewB

  • Post category:Economy News
  • Reading time:4 mins read

The young cooperative bank failed to convince enough institutional investors to support it. She counted above all on financial support from the public authorities. Who didn’t come.

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Journalist in the Economy department

Reading time: 3 mins

DAt the beginning of this week again, the directors of the NewB bank wanted to believe it or, in any case, not let it show. No, they had not raised the 40 million euros demanded by the National Bank of Belgium (BNB) in its capacity as supervisor of the banking sector, but an investment from the Walloon and Brussels governments could still land on the table at the last minute. . And influence the decision of the regulator. As a reminder, a credit institution must have a certain volume of capital to guarantee its stability and thus the security of its depositors. NewB needed a few tens of millions to meet medium-term regulatory requirements. The BNB had given him until September 30 to raise the sum deemed necessary in order to avoid having to call on outside capital again during the next four years. NewB therefore played on this one its, very new, banking license.

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