Belgian bank plans investment in asset management

Brussels-headquartered cooperative bank Crelan has unveiled some details of its triennial strategy from 2017 to 2020.

Crelan’s CEO Luc Versele has announced that the group has plans to trim full-time jobs to 650 from 810 over the period to achieve the targets set such as a cost income ratio of 65% in 2020.

By 2020, Crelan seeks to strengthen its network of currently 600 independent agencies by partnering with some 250 new agencies across Belgium.

The company said it will invest €140m to achieve its 2017-2020 plan, that will also serve the digital transformation of the bank.

Moreover, Crelan is set to invest in asset management but did not provide details regarding its development plans over the segment. It is also looking at enlarging its bank insurance model.

Crelan tallies over 1 million clients across Belgium.

ABOUT THE AUTHOR
Adrien Paredes-Vanheule
Adrien Paredes-Vanheule is French-Speaking Europe Correspondent for InvestmentEurope, covering France, Belgium, Geneva and Monaco. Prior to joining InvestmentEurope, he spent almost five years writing for various publications in Monaco, primarily as a criminal and financial court reporter. Before that, he worked for newspapers and radio stations in France, in particular in Lyon.

Read more from Adrien Paredes-Vanheule

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