Rabobank withdraws from Russia
Rabobank and its subsidiary DLL have started to wind down all activities in Russia and to leave the country. The bank does not want to engage business in a country with a regime that brutally invades another sovereign nation.
Rabobank had relatively few commercial interests in Russia, with an aggregated direct net exposure to Russia amounting to ~EUR 400 million in January 2022, which amount has since then been further reduced to ~EUR 300 million (March 2022). It is mainly Rabobank’s subsidiary DLL that is active in the country, with the leasing of machinery in the agricultural sector. New activities had already been discontinued by DLL since February 25, 2022.