Solid year for Rabobank Group

Despite the worsening economic conditions, the Rabobank Group just concluded a solid year, according to Hans Smits, President of the Rabobank Groep.

Net profit will grow by 8%, in line with expectations. Credit facilities increased by 11%, total savings with 12%, asset management by 10% and insurance premiums by 12%.

The New Year will be characterized by a conservative expansion of the market leadership. The mortgage market, showing a slightly increased market share, will be stimulated, mainly through the new subsidiary Obvion. Commercial banking will lead to a larger market share and international operations will continue on its successful route.

Staff reductions are the logic consequence of increasing professionalism. The number of banks decreased from 1,000 to just over 370 over the last few years, whereas employment at Rabobank Nederland?s headquarters increased. A more efficient operation will contribute towards a change in culture, according to Hans Smits.

(source: Rabobank Groep)

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