Under the umbrella of the Dutch Banking Association (NVB), the leading Dutch banks released the Financial Restructuring & Recovery Guide on 18 September.
The ten points set out in the Guide (in Dutch) clearly explain to business owners in Financial Restructuring & Recovery what they can expect from their bank. Clear communication about Financial Restructuring & Recovery is key, and is now high on the agenda. Ongoing specialist training has been organised for staff, and all relevant information material is being evaluated to ensure that it is lucid and jargon-free. Clients have reported that, in what are often stressful situations, communication can and should be improved. Published earlier this year, the AFM report also makes communication the top priority.
Daphne de Kluis, who serves as Senior Managing Director of Financial Restructuring & Recovery at ABN AMRO, says, “This is why we’re examining more closely how best to introduce clients to, and engage them in, the Financial Restructuring & Recovery process. We’re looking specifically at arguments for certain choices and how those are ultimately communicated. In addition, we’re focusing more on meetings with clients, correspondence and reporting. We’ve also teamed up with the other Dutch banks to determine how we can best provide more clarity and better manage expectations. All this has gone into creating the new guide.”
Where to address complaints
If clients have a complaint, the best advice is for them to get it off their chest and inform the bank. Once things are out in the open, the complaint can be discussed, and solutions found. Clients can approach their designated contacts directly, or avail themselves of online options and the Service Centre, available over the phone. The website outlines a number of options open to clients wishing to lodge a complaint.
More information on Financial Restructuring & Recovery
ABN AMRO’s Verder met Financieren (Further with Financing) website provides a number of articles on Financial Restructuring & Recovery:
- Samenwerken aan een nieuwe start (Working together on a fresh start)
- Het eerste contact (First contact)
- Begeleiding tijdens de uitvoering (Assistance during implementation)
- Beëindiging van de begeleiding (Termination of assistance)
Several articles on Financial Restructuring & Recovery have also appeared on the ABN AMRO news website in the last year: