Rabo news https://www.rabobank.com/DotCom/Corporate/en/investors/irnews_research/rss.html Rabobank News https://www.rabobank.com/DotCom/Corporate/en/investors/irnews_research/rss.html https://www.rabobank.com/DotCom/Corporate/en/investors/irnews_research/rss.html Rabobank News en <![CDATA[Rabobank shares risk on part of its SME loan portfolio with EIF and EIB]]> https://www.rabobank.com/en/investors/irnews_research/investor_news/2018/20180328-sme-eib-eif-ec-rabobank.html Rabobank has shared the risk on a part of its Dutch SME portfolio with the European Investment Fund (“EIF”) and the European Investment Bank (“EIB”). This contributes to further optimisation of Rabobank’s balance sheet and stimulates lending to Dutch SMEs.

The transaction relates to more than 3,000 loans to Dutch SME’s originated by Rabobank with a total amount of circa EUR 2 billion and will be guaranteed by the EU budget under the European Fund for Strategic Investments (EFSI), which forms a central part of the “Investment Plan for Europe” of the Juncker Commission. 
 
Wiebe Draijer, Chairman of Rabobank’s Managing Board: “This transaction underlines Rabobank’s ongoing commitment to its SME clients. As a result of the risk transfer, risk-weighted assets will decrease by EUR 1.2 billion. Rabobank will use the freed-up capital to grant new loans to Dutch SMEs. Just like EIF and EIB we intend to stimulate lending to SMEs. We will transfer the discount granted to us by EIF and EIB to our customers. EUR 768 million of newly originated SME loans will benefit from this.”
 
“The EIF is delighted to be signing this securitisation transaction with Rabobank to support SMEs and mid-caps in the Netherlands”, said the Chief Executive of the European Investment Fund Pier Luigi Gilibert. "This new agreement will help to boost lending for small and medium-sized businesses across the country.”
 
Jyrki Katainen, European Commission Vice-President for Jobs, Growth, Investment and Competitiveness, said: "Thanks to this transaction supported by the European Fund for Strategic Investments, Rabobank will be able to lend more money to local businesses in the Netherlands. Dutch SMEs will be the winners in this deal."
 
The risk transfer to EIF and EIB has no consequences for the client relationship: clients will keep their contacts with Rabobank, and loan contracts and conditions remain unchanged. Rabobank is a leading SME loan provider in the Netherlands with a total SME portfolio of approximately EUR 100 billion.
 
Joint press release of EIF, EIB, EC and Rabobank
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Investor News Wed, 28 Mar 2018 06:00:00 GMT
<![CDATA[Moody’s downgrades Rabobank’s long-term ratings to Aa3 with stable outlook]]> https://www.rabobank.com/en/investors/irnews_research/investor_news/2018/20180327-moodys-press-release.html On 27 March 2018 Moody’s Investors Service announced the downgrade of Rabobank’s long-term debt and deposit ratings to Aa3 from Aa2 and revised their outlook to stable from negative.

The downgrade is the result of the adjustment of Rabobank’s Baseline Credit Assesment* (BCA) to a3 from a2 which, according to Moody’s, reflects the fact that despite material improvements in asset risks, capital and funding, the bank’s profitability improvement program to date, has not yet yielded sufficient benefits to withdraw the negative outlook and maintain a credit profile consistent with the previous high BCA of a2 (compared to our peers with a BCA of a2 and a3). It is Moody's view that Rabobank’s net profit ambitions, despite its strong fundamentals, are prone to low interest margins, normalising costs of credit risk and the challenges the bank faces in reducing its operating expenses.

The outlook on Rabobank’s deposit and senior unsecured debt ratings is stable because Moody’s does not anticipate any significant change in the bank’s creditworthiness over the next two-to-three years.


*Moody’s Baseline Credit Assessment (BCA) is their opinion of the probability of a bank’s standalone failure absent external support. Their BCA analysis involves three main components: a macro profile, financial factors and qualitative factors.
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Investor News Tue, 27 Mar 2018 16:36:25 GMT
<![CDATA[Rabobank publishes integrated Annual Report 2017]]> https://www.rabobank.com/en/investors/irnews_research/investor_news/2018/20180315_publication_annual_report_2017.html Rabobank published its integrated Annual Report 2017 today. The report gives an extensive account of the bank’s performance in social and financial terms. It illustrates how Rabobank plays a meaningful role for individuals, society and the environment and the progress made in 2017.

As a meaningful cooperative bank and a leading Food & Agri bank, Rabobank is committed to making a substantial contribution to welfare and prosperity in the Netherlands and to resolving the food issue worldwide. In the past year Rabobank furthered these ambitions with a new expression of its mission: “Growing a Better World Together”. The bank launched several practical and successful initiatives in the Netherlands and the rest of the world, resulting in more satisfied clients, ground-breaking innovations and improved financial results. The annual results 2017 were published on 15 February.

The integrated Annual Report 2017 also includes the Annual Accounts 2017 and the Pillar 3 report. The Annual Report 2017 is accompanied by a compact infographic showing our impact on society in the Netherlands and around the world. The links below give a total overview of infographics, animations and the annual results for 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.

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Investor News Thu, 15 Mar 2018 13:46:34 GMT
<![CDATA[FGH Bank sells loan portfolio to RNHB BV]]> https://www.rabobank.com/en/investors/irnews_research/investor_news/2018/20180313-fgh-bank-sells-loan-portfolio-to-rnhb-bv.html FGH Bank has entered into an agreement with RNHB B.V. on a contemplated sale a part of its loan portfolio with an outstanding balance of approximately EUR 1.3 billion. The closing of the transaction is expected to take place in the second quarter of 2018, subject to necessary regulatory approvals and successful completion of the consultation process with the employee representative bodies. RNHB B.V. is fully committed to continue to serve FGH’s customers.

The transaction fits Rabobank's commercial real estate strategy. Loans and customers of FGH Bank that are in line with the strategy have been transferred to Rabobank in 2017. FGH Bank N.V. intends to phase out its activities in the course of 2018. FGH Bank N.V. would then cease to exist as a separate legal entity.

The contemplated purchase of the FGH portfolio fits in RNHB B.V.’s strategy very well. RNHB B.V. has the ambition to expand its business through organic growth and selective portfolio acquisitions and welcomes the FGH clients within RNHB B.V.. RNHB B.V. looks forward to continuing to work with FGH customers.

RNHB B.V. is a leading buy-to-let and mid-market CRE lending business, with knowledge about the national, regional and local real estate market. It provides loans for commercial real estate and for residential properties intended for rental or resale. RNHB offers tailor-made solutions for the middle segment of the real estate market and has both credit, real estate and construction know-how.

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Investor News Tue, 13 Mar 2018 12:48:50 GMT
<![CDATA[Rabobank posts EUR 2,674 million net profit in 2017]]> https://www.rabobank.com/en/investors/irnews_research/investor_news/2018/press-release-annual-results-2017.html
  • 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.

“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.”

Read more

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.

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Investor News Thu, 15 Feb 2018 15:15:52 GMT
<![CDATA[Analyst webcast FY2017 results]]> https://www.rabobank.com/en/investors/irnews_research/investor_news/2018/analyst-webcast-fy2017-results.html On 15 February 2018 Rabobank's CEO Wiebe Draijer and CFO Bas Brouwers hosted a webcast and call for Analysts and Institutional Investors covering our 2017 Annual results.

The press release on the FY2017 results are available here. The Investor Relations presentation on the FY2017 results and the presented sheets during the Analyst webcast are available here.

Please click here for the on-demand version of our Analyst Webcast FY2017 results, including the sheets presented.

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Investor News Thu, 15 Feb 2018 11:12:15 GMT
<![CDATA[Rabobank expects even higher price hikes on the Dutch housing market]]> https://www.rabobank.com/en/investors/irnews_research/investor_news/2018/20180209-quarterly-dutch-housing-market-update.html Prices for owner-occupied homes in the Netherlands rose on average by 7.6% in 2017, and are expected to rise even faster in 2018. This is what economists of Rabobank write today in their Dutch Housing Market Quarterly. They expect houses to get 8% more expensive in 2018 and 7% in 2019. This means that in 2019 the average owner-occupied home in the Netherlands will cost some 300.000 euros. This isn’t all good news: not only can it make owning a home less attainable by a growing number of potential first-time buyers, it could also lead to higher debts for households.

Senior housing market economist Christian Lennartz explains: ‘We know from data from the Dutch Land Registry that an increasing share of buyers does not need external financing to purchase a home. But those who do rely on mortgages will find that they have to loan more money to keep up with rising house prices. This can also make such households more vulnerable to economic shocks.’ For the latter the economist points towards the high interdependency of the Dutch economy and the housing market, meaning that a downturn in the economy can have large effects on the housing market. And the reverse holds true as well, which became painfully clear between 2008 and 2013: a housing market slump can strengthen economic crises.

Strong sales increase, especially outside the largest cities

Rising prices are a welcomed though by homeowners who in previous years had to postpone their plans to move to a new home, because they still had an underwater mortgage. Now that the market value of their house is higher than their mortgage, it is getting easier to relocate. This could help explain why in 2017 the number of sales has risen dramatically in regions where prices have increased more gradually in the past years than in the large cities. In provinces like Gelderland, for example, the number of transactions grew almost 19% year-on-year. In the Netherlands as a whole about 242,000 homes switched owners, compared to 215,000 in 2016. Lennartz: ‘We expect sales to keep increasing in 2018 outside the “Randstad” region in the west of the country, but do expect stagnating or even declining sales in the large cities.’

Demand for owner-occupied homes remains strong

The two effects combined are expected to lead to moderately increasing sales in 2018 of about 250,000 homes. Lennartz: ‘Propensity to move is high among the Dutch and has even increased a tad in the past quarters. Combined with interest rates that are still relatively low, we expect demand for homes to remain strong. Supply is dwindling however, but we feel that the mismatch between the two will manifest itself in higher prices, not yet in declining sales.’ According to the economist the number of sales will start to drop when affordability will deteriorate so far that large groups of potential buyers will run into financing limits. This scenario isn’t expected until, at the soonest, 2019.

  • Read the entire Dutch Housing Market Quarterly here
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Investor News Fri, 09 Feb 2018 12:23:09 GMT
<![CDATA[Rabobank, National Association settles compliance program matters]]> https://www.rabobank.com/en/investors/irnews_research/investor_news/2018/20180207-rna-settles-compliance-program-matters.html Rabobank, National Association (RNA), a California-based subsidiary of Coöperatieve Rabobank U.A. (Rabobank), has entered into agreements with the U.S. Department of Justice and the Office of the Comptroller of the Currency (OCC). The agreements conclude previously reported investigations involving Bank Secrecy Act / Anti-Money Laundering (BSA/AML) compliance program deficiencies and related conduct by certain former employees before 2014. Recognizing the material improvements the bank has made to its BSA/AML compliance program, the OCC has terminated the Consent Order issued in December 2013.

RNA has agreed to pay approximately EUR 298 million (USD 369 million) in forfeiture and civil money penalties and fines. It has also agreed to plead guilty to one charge of conspiring to obstruct a regulatory examination. Under the plea agreement’s terms with the Department of Justice, no further action will be taken against RNA with regard to its BSA/AML compliance program and related conduct. RNA has been under investigation by the U.S. Department of Justice, the OCC and the Financial Crimes Enforcement Network (FinCEN). Given the overlapping nature of the investigations and the bank’s remediation, no additional penalties or measures will be sought by FinCEN, which has also concluded its examination. The settlement amount is in line with the provision that was announced on January 2, 2018 and will be accounted for in the full year results of 2017.

Wiebe Draijer, Chairman of the Rabobank Managing Board, stated: “The findings at our subsidiary RNA relate to events that took place before 2014. The violations that took place are serious, regrettable and unacceptable. Rabobank is fully committed to conducting business with the highest levels of integrity, which includes strict compliance with all applicable laws, regulations, and standards in each of the markets and jurisdictions in which it operates. Rabobank and RNA cooperated fully with all authorities, who specifically acknowledged the bank’s cooperation. RNA, with the full support and backing of Rabobank, has made very strong efforts to strengthen its internal controls and risk management functions, which is also recognized by the authorities.”

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Investor News Wed, 07 Feb 2018 17:24:32 GMT
<![CDATA[Notice to holders of EUR 90mn Robeco Private Equity Certificates (XS0239558819, Series Number 1)]]> https://www.rabobank.com/en/investors/irnews_research/investor_news/2018/20180126-notice-to-noteholders-robeco-certificates.html The Issuer hereby informs the holders of the Certificates that the maturity date of the Certificates of 28 February 2018 shall be extended with a period of one year to 28 February 2019 (the "Maturity Date").

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Investor News Fri, 26 Jan 2018 16:22:29 GMT
<![CDATA[California-based Rabobank National Association takes Q4 provision ]]> https://www.rabobank.com/en/investors/irnews_research/investor_news/2018/20180102-california-based-rna-takes-q4-provision.html Rabobank, National Association (“RNA”), a California-based subsidiary of Coöperatieve Rabobank, U.A. (“Rabobank”), has taken a Q4 2017 provision of approximately EUR 310 million in anticipation of a settlement connected to previously disclosed investigations.

RNA has been under investigation since 2013 by the U.S. Department of Justice and other U.S. authorities for possible violations of the U.S. Bank Secrecy Act and other regulations and statutes in relation to its historical AML compliance program, and the Office of the Comptroller of the Currency’s (“OCC”) examination of that program in the past.  RNA is cooperating with the investigations, and more recently has been engaged in discussions to settle these matters. As a result, RNA has taken a provision in its Q4 2017 financial results for a potential settlement, which will likely include a guilty plea by RNA to a single offense related to former employees’ withholding of information from RNA’s prudential regulator, the OCC, nearly five years ago. Rabobank believes that these investigations will come to a final conclusion in Q1 2018, and will not comment further on the matter at this time given that discussions are on-going.
 
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.
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Investor News Tue, 02 Jan 2018 15:00:36 GMT