How can the National Bank of Belgium adapt to the fast-changing economic and financial landscape and the new social challenges it faces? That was the key motivation behind the strategic exercise 2025 the Board of Directors launched back in spring 2019 and to which our members of staff have actively contributed. Read more about our progress and achievements in the latest Corporate Report.
Our plan for the future
“The world around us is changing at a rapid pace: new players and techniques are entering the financial world, big data, artificial intelligence, other technological innovation… But environmental challenges and a greater sense of corporate social responsibility are also very much the order of the day. At the Bank, we are well aware that we also have to evolve as an organisation. This is why we have come up with a new vision as part of this strategic exercise: we want to be a modern central bank at the service of society, at the heart of the Eurosystem. What this effectively means is that the Bank is change-oriented and, with all its expertise, can make a major contribution to social debates. Moreover, the NBB is keen to stress that, with this vision, it wants to maintain its influence on the European decision-making process and that it will also continue to be held accountable for its policy action.
Central banks have four areas of activity. These four missions form the four pillars on which our new NBB vision is based. So, the Bank safeguards price stability, supervises the financial system, guarantees safe cash and efficient payment systems and provides crucial economic analyses and recommendations. Thanks to its unique position at the heart of all Belgian economic and financial information, the NBB contributes to social debate in its capacity as a central bank.
Our three new strategic goals express a strong desire to successfully hold this unique position in the public debate in the future too:
We want to act thoughtfully and efficiently. Our decisions and actions in implementing our missions are well thought-out and we examine carefully how we can achieve the best possible and most efficient results.
We want to be a great place to work, open to change and socially responsible. Every day, the Bank strives to improve its structures and working methods. In this way, we remain convinced that diversity and inclusion improve the quality of the work we do.
Our objectives are now starting to be translated into genuine changes too. All in all, twelve strategic and transversal themes have been established, areas in which the Bank wants to evolve over the coming years. Do you want to know more about it? The Annual Report 2020 explains the strategic themes one by one.
A few examples are “Innovation”, “Outreach” and “Digital transformation”. Besides, the NBB more than ever determined to be a socially responsible organisation that fulfills its general interest missions sustainably and inclusively. Another important task is data collection, which forms an integral part of the strategic exercise along with Enterprise Data Management (EDM). We are striving to make all this information more accessible to a wider public, while improving its quality and consistency.
Strategy 2025 is our answer to the future challenges facing the National Bank. We still have a long and fascinating road ahead of us, but we are convinced that, by 2025, we can be proud of our bold achievements.”
The Board of Directors of the National Bank