![]() ![]() Draijer, a 50-year-old former McKinsey & Co. The 106 local units of the lender agreed in December to work together as a single entity with one banking license and a common annual report. Rabobank, a cooperative formed in 1898 to serve Dutch farmers, has struggled to keep pace with changes in banking because of its legal structure. “They’re way behind in slimming down their balance sheet and raising capital compared with the other Dutch banks, and now they’re trying to catch up.” “Rabobank doesn’t have it easy, financially,” Jos Versteeg, an analyst at Theodoor Gilissen Bankiers NV in Amsterdam, told Bloomberg. Our sustainability ambitions sharpen our focus.” We are also engaged in intensive dialogue about our norms and values. Work is being done to adapt our governance model and develop a new Strategic Framework. It remains essential to reduce costs and improve income further given the intensive competition and increased capital requirements. “While customer satisfaction is rising, it remains below our stated ambition level as a customer-centric bank. The underlying profit performance highlights the need to improve profit further, not least because of stricter capital requirements in future. ![]() In the bank’s 2015 interim message Rabobank chairman Wiebe Draijer (pictured above) said: “Our financial results increased substantially in the first half of 2015, due mainly to the decline in loan impairment charges. Bloomberg stressed that the Netherlands-based lender, which had a balance sheet of €675 billion at the end of June, is under pressure to cut costs as customers switch to mobile and Internet banking services. Rabobank is reportedly seeking to cut as much as €150 billion of assets by 2020 in preparation for tougher European capital rules. Bloomberg reports that the sale may fetch as much as €4.5 billion ($4.9 billion), “according to a person with knowledge of the process” who confirmed that the transaction could be concluded in H2 2016. ![]()
0 Comments
Leave a Reply. |