Thierry Smets is the new CEO of NewB

NewB, supported by private cooperatives and various organizations, has had a banking license since the beginning of this year. Banking activities should begin in the coming months. The focus is on ethical banking.

At a special meeting on Saturday, shareholders voted on the appointment of 57-year-old Smets as CEO. Smets has a history with the private bankers Puilaetco Dewaay and Nagelmackers, among others. He succeeds Tom Olinger, who announced his resignation in March.

Earlier this year, NewB announced that it would offer unregulated savings accounts. This means that there is no statutory minimum interest rate of 0.11 percent.