Update financial restructuring and recovery

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Businessmen during a meeting

The Dutch Banking Association (NVB) presented an update on financial restructuring and recovery on 3 October, focusing on two subjects: complaints handling and the importance of good communication. These two topics were also addressed in last year’s NVB publication about financial restructuring and recovery (Handreiking Bijzonder Beheer, in Dutch only) which was designed to better manage the expectations of businesses and banks in terms of default management.

Client-centred complaints handling

Research has shown that frequent and clear communication about complaints handling procedures contributes to open and good contact between banks and their clients. During the past year, ABN AMRO fine-tuned its complaints procedure for clients of Financial Restructuring & Recovery, and client communication about the process has been rewritten in plain language. The clients can now submit complaints through a variety of channels: through their own relationship manager, through the relevant contact at Financial Restructuring & Recovery or through ABN AMRO’s central Complaints Management department.

Good communication

ABN AMRO sets great store by good communication with clients. The guidelines in the NVB’s Handreiking are used to further improve the financial restructuring & recovery process on an ongoing basis. Last year, the bank reviewed all client communication materials, and where necessary, rewrote them in plain language. In addition, staff have been trained in interpersonal skills and in dealing with difficult situations.

More information

If you’re interested in knowing more about Financial Restructuring & Recovery, see our dedicated brochure and website (in Dutch only), which walks you through the process step by step. For more information about the NVB’s update on financial restructuring and recovery, visit the NVB’s website.

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