International law practice Osborne Clarke has successfully advised NewB in obtaining a licence as a bank in Belgium
On January 31, 2020, NewB received its license to operate as a credit institution in Belgium, which was the final step to become the first ethical and sustainable cooperative bank in Belgium – and the first new bank in Belgium in more than 60 years.
The Osborne Clarke team is excited and proud to be part of a ground-breaking project that unites best commercial practices with a commitment to some of today’s most pressing ecological and social issues. Our team was just a small part of a much bigger vision that saw thousands of people from across Belgium rally to support NewB by investing their time and money in the long journey to the finish line.
A few months ago, NewB’s public fundraising generated much publicity and support throughout Belgium. Our Belgian team, led by Fintech Partner Joan Carette and Corporate Partner Hadrien Chef, also advised NewB on this successful €35 million public offering, one of the key requirements for obtaining the license as a credit institution.
Osborne Clarke’s team included Tonya Aelbrecht, Violette Keppenne, David Zygas, Jean-Christophe Vercauteren, Olivier Lambillon and Laurent Donnay de Casteau.
Osborne Clarke combines sector knowledge and a global reach to support clients in the fintech and commercial banking sectors.