1. Foreword

In 2015, Rabobank, as a cooperative bank, took a number of steps that are crucial for a sound future for the bank and for our members and customers. We strengthened our cooperative structure, making it more effective, and we established the road map to become the most customer-driven bank in the Netherlands as well as a leading global food and agri bank

A thorough decision-making procedure had to be completed first, in which all of the parties involved in our cooperative were consulted , as well as stakeholders outside the bank. The result was unanimous support for the chosen course. Rabobank is proud of this support. It gives us the confidence that we will achieve our goals for our members and customers.

Within the cooperative, there was also broad support for the strategic direction that we have set for the period towards 2020. We will focus with determination on three priorities: excellent customer service, a flexible and even stronger balance sheet, and an improvement of financial results.

This is in line with our mission to be a customer-focused cooperative bank that makes a substantial contribution to the welfare and prosperity of the Netherlands and to sustainable global food production. We will implement this with our visions on Banking for the Netherlands and Banking for Food.

Rabobank wants to be a meaningful cooperative with long-term success for members, customers and other stakeholders. We have chosen to link our review of the year directly with the wishes and expectations of members, customers, investors, the government, special interest groups and civil society organisations.

In this respect the Rabobank Annual Review 2015 is an important tool. We want to show very clearly who we are, what we do and why. For Rabobank, 2015 was an important year full of change. We are grateful for the effort and commitment of all of our employees and stakeholders in the past year, and we look forward to their continuing intensive involvement for the coming year, which will no doubt prove just as intensive.

Wiebe Draijer, Chairman of the Executive Board, Rabobank

Wiebe Draijer