S&P revised its outlook on Rabobank, all rated branches, and the subsidiaries Rabobank Australia Ltd. and Rabobank New Zealand Ltd. to Positive from Stable. Rabobank’s long-term issuer credit rating and short-term rating were affirmed at ‘A+/A-1’.
S&P states that the outlook revision reflects Rabobank’s continuing capitalization strengthening, supported by its cooperative business model and strong earnings retention, underpinned by adequate profitability. S&P expects Rabobank risk-adjusted capital (RAC) ratio to trend toward 15% by the end of 2028, on the back of solid earnings retention could potentially supporting future rating upside.
S&P also highlighted improving conditions in the Dutch banking sector, revising the economic risk trend for the Netherlands to Positive. The agency expects moderating housing market risks, slower loan growth, and improving mortgage structures to reduce economic imbalances over time.
Please find here S&P’s press release dated 16 September 2026.