Rabobank

Rabobank Group at a glance

Rabobank Group is an international financial services provider operating on the basis of cooperative principles. It offers retail banking, wholesale banking, asset management, leasing and real estate services. Focus is on achieving market leadership as an all-finance bank in the Netherlands and on building on the bank’s leading position as a food and agri bank internationally. Rabobank Group is comprised of independent local Rabobanks and Rabobank Nederland, their umbrella organisation, as well as a number of subsidiaries and associates. Rabobank Group’s employee base numbers approximately 59,000 FTEs, which are spread over 48 countries.

Bad debt costs increased at Rabobank Group due to the poor economic situation. The drop in activity level led to cost cuts throughout the group. The tier 1 ratio increased by 1.1 percentage point to 13.8% in 2009 due to retained earnings and the issue of hybrid capital instruments. The economic situation caused demand for loans to drop, with lending growth levelling off, particularly in the second half of 2009. Businesses and retail clients deposited more money with local Rabobanks, while at Rabobank International amounts due to customers decreased.