At a general meeting held on Saturday in Bozar, the NewB co-operators approved the partnership with the vdk bank. The required Articles of Association change was adopted by a very substantial majority of the participating institutional investors, participating civil society organizations, and individual cooperatives.

The cooperative ethical bank NewB was unable to maintain its banking license in the fall of 2022 because it was unable to raise an additional 40 million euros in capital. NewB was compelled to halt its banking operations. But in the end, a deal with the VdK Bank was achieved.

The clientele of NewB is taken up by Vdk bank. The two partners are entering into an exclusive arrangement under which NewB will serve as the middleman for the francophone clients of vdk bank for all banking and investment-related matters.

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