Ethias wants to get rid of Ethias Bank because they want to concentrate them more on their insurance activities. The popular “First-account”, a pure insurance product stays with Ethias. This decision forms part of “Plan Horizon 2011” , the saving plan of Ethias. Beside it there are almost 170 other decisions that have to guarantee an extra earning capacity of 150 million. This due to the financial crisis.
Ethias also wants to reduce the staffing. But this without really firing people, they want to do it by advanced retirements and partly replacements.
At the taking over will be considered that the people that work for Ethias bank will keep there job. Ethias also wants to keep a strategic view over the bank products, so they can offer them to their clients. Two other important goals of “Plan Horizon 2011” are the reconfirmation of the values and the development of an appealing commercial management.
Ethias also wants to strengthen their position as insurer of public services and their employees. Some products have to change and become better. They will also lower the cost of sponsoring and operation. ..
In my opinion it is a good idea of Ethias to concentrate them back on what they used to do. They also have a whole catalogue of what they are going to do, so they really want to work on it. But at the other side, I think they have no other choice. It is changing or going bankrupt. Every financial institute has problems. They are doing to many things like selling bank product, insurance products, loans, stock exchange… and they lose control. So banks decide to go back to basic. I hope it all works out!
De Ridder Steffie
In my opinion it is a good idea to keep insurance and bank products separated because one of the main reasons of the financial crisis is that banks sold everything even loans, investments, shares and so on. And the big problem is that the employees of these banks have to know everything about all the products. And that’s where it all went wrong.
BeantwoordenVerwijderenSo I think that Ethias is doing the right thing and that every other bank should follow their example. They should change their whole assortment of products and reorganize the structure of their company.
Ruth Blommaert