vdk bank

VDK continued to operate separately from the Belgian Workers' Cooperative (BAC), with which the Christian savings banks from Antwerp and Brussels, among others, merged.

In consultation with BAC, VDK was able to expand significantly after the Second World War in the districts of Ghent and Eeklo in the province of East Flanders.

Incofin started with an initial capital of 5 million Belgian francs (123,946 euros) and formulated the aim of participating in the risk that local partners and small entrepreneurs in the developing world take.

Incofin cvso had more than 2200 shareholders in 2020 and had 44 local financial partners who also provided tailor-made technical support to clients who mainly use microcredit.

An attempt in 1999 to merge the VDK savings bank into Artesia (predecessor of Belfius) caused much fury in the Christian labor movement and was therefore blocked.

Until 2016, slightly more than half of the shares were held by a few Ghent parties that had linked their fates through a shareholders' agreement: the investment company Volkskracht (17%), vzw De Kade (16%) that leans on Movement.net (the former ACW) and the ACV-Metea trade union (11%).

It is assumed that this happened in proportion to the existing participation in vdk bank, which means that Volkscapacity remains the largest shareholder.