Resolutions Annual General Meeting of Shareholders

Today the Annual General Meeting of Shareholders of NWB Bank was held. The key resolutions are as follows:
 

• Joanne Kellermann appointed as chair of the Supervisory Board of NWB Bank
• Despite the COVID-19 pandemic, NWB Bank is still in a good position to meet its funding and liquidity needs and provide its clients with the necessary financing
• Payment of €55 million dividend postponed until after the 1^st of October 2020
• NWB Bank announced its decision to establish an independent NWB Water Innovation Fund

 
Appointments
Joanne Kellermann has been appointed as chair of the Supervisory Board of NWB Bank following today’s Annual General Meeting of Shareholders (AGM). Her appointment is for a period of 4 years, she will be succeeding Age Bakker, who resigned as of today due to him reaching the two-term maximum of 8 years. The Managing Board and shareholders have all expressed their gratitude to Mr Bakker for his formidable chairmanship and his great involvement with the bank. During the Annual General Meeting, Manfred Schepers was reappointed as a member of the Supervisory Board.
 
Joanne Kellermann (59) is currently the chair of the Pension Fund Zorg & Welzijn (PFZW). Before joining PFZW in June 2019, she was, among others, member of the Single Resolution Board (SRB), board member of the Dutch Central Bank (DNB) and partner of law firm NautaDutilh. The approval of both the DNB and ECB for the proposed appointment of Ms Joanne Kellerman was granted.
 
Lidwin van Velden, chair of the Managing Board: “We are very pleased with the appointment of Joanne as the new chair of the Supervisory Board. Joanne has extensive knowledge and experience within the financial sector at board level, and for many years she has been an advocate for sustainable finance. As a result, she will be able to make an important contribution to the bank.”
 
COVID-19
The Annual General Meeting focused on the impact of the COVID-19 pandemic on the bank’s business. The Managing Board has reiterated it is open for business during these challenging times. As a result of its excellent creditworthiness, and despite challenging market circumstances, NWB Bank is still able to fund itself and provide its clients with the necessary financing.
 
Dividend
During the AGM, the decision was made to distribute €55 million in dividends to the bank’s shareholders. Payment of the dividend, however, will only take place after the 1^st of October 2020. The bank made this decision following consultation with the European Central Bank (ECB), which strongly called upon all its supervised institutions to do so.
 
NWB Water Innovation Fund
Finally, NWB Bank has announced its intention to establish an independent NWB Water Innovation Fund. With the fund, the bank intends to contribute to the innovative capacities of the Dutch water authorities.