Rabobank posts EUR 2,674 million net profit in 2017
Solid foundation for next step in transition
- Net profit EUR 2,674 million (+32%). The underlying net profit rose in both the Dutch and international businesses.
- Successful launch digital innovations; further rise in customer satisfaction across all segments.
- Position in Food & Agri further reinforced both in the Netherlands and international.
- Solid capital position: common equity tier 1 ratio (fully loaded) jumps from 13.5% to 15.5%.
- Local Rabobanks allocated a cooperative dividend of EUR 45 (2016: 40) million from their net profit to investments in local community initiatives in the Netherlands.
Wiebe Draijer, Chairman of the Managing Board:
“We are committed to being a meaningful cooperative bank, making a substantial contribution towards achieving welfare and prosperity in the Netherlands and to resolving the food issue worldwide. We are shaping our mission of “Growing a Better World Together” with passion and this is bearing fruit. In 2017 we accelerated our efforts to reach the goals set in our Strategic Framework 2016-2020. We further reinforced our position in Food & Agri in the Netherlands and around the world. The future Rabobank is taking shape with more satisfied clients, ground-breaking innovations, a stronger balance sheet and improved financial results."
“We are proud that we are on track to achieve our goals. Yet our ambitions go beyond this. We must pick up even more speed, particularly in our digital transition and innovation efforts, to continue offering our clients the best possible service. We laid a solid foundation for this in 2017.”
Elements of this press release are considered by Rabobank as inside information relating directly or indirectly to Rabobank within the meaning of article 7 of the Market Abuse Regulation (EU Regulation 596/2014) that is made public in accordance with article 17 Market Abuse Regulation.