Rss feed Investor Relations https://www.rabobank.com/DotCom/Corporate/en/investors/irnews_research/rss.html Rss feed Investor Relations en <![CDATA[Analyst webcast FY2018 results]]> https://www.rabobank.com/en/investors/irnews_research/investor_news/2019/20190214-analyst-webcast-2018-results.html?utm_medium=RSS On 14 February 2018 Rabobank's CEO Wiebe Draijer and CFO Bas Brouwers hosted a webcast and call for analysts and institutional investors covering our 2018 results.

The press release and related content on the annual results are available . The Investor Relations presentation on the FY2018 results and the presented sheets during the Analyst webcast are available .

Please click for the on-demand version of our Analyst Webcast FY2018 results, including the sheets presented.

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Investor News Thu, 14 Feb 2019 14:02:47 GMT 259607
<![CDATA[A Healthy Foundation for the Cooperative Bank of the Future]]> https://www.rabobank.com/en/investors/irnews_research/investor_news/2019/20190214-a-healty-foundation-for-the-cooperative-bank-of-the-future.html?utm_medium=RSS


  • EUR 3,004M (+12%) net profit.
  • Low impairment charges because of the positive economy (5 basis points of the average loan portfolio).
  • Upward trend in customer satisfaction for third consecutive year.
  • Lending to international Food & Agri customers increased by 5%. Private sector lending increased by EUR 7.9B to EUR 416.0B.
  • Cost/income ratio improved from 71.3% to 65.9% because of lower operating expenses and despite higher investments in digitalization and risk management.
  • Strong buffers: fully loaded common equity tier 1 ratio from 15.5% to 16.0%.
  • Sustainalytics has placed Rabobank at the top of the global sustainability rankings for major banks.

In 2018 Rabobank posted a net profit of EUR 3,004 million. This is an increase of 12% compared to 2017. These strong results have reinforced the bank’s financial position. Impairment charges remained at historically low levels thanks to the continuing favorable economy but were higher than in 2017. Total revenues remained stable despite the low interest rate environment. In line with the strategic growth targets, lending to international customers in the Food & Agri sector increased, while the deposits from customers remained stable. Rabobank actively contributes to the sustainability of its customers. For the third consecutive year, Rabobank’s customers were more satisfied with the bank’s services. Lower operating expenses improved the cost/income ratio from 71.3% to 65.9%. Cost reduction will remain necessary for the coming years, despite the need to invest in digitalization and risk management. Adjusted for the impact of reorganization costs and fair value items, the underlying operating profit before taxes showed a decrease of 6% on 2017 when an exceptional release of credit provisions caused an upward shift in operating profit. Rabobank's capital base is holding strong: the fully loaded common equity tier 1 ratio increased again and now stands at 16.0%. The return on invested capital improved to 7.4% (2017: 6.9%) but has yet to reach the 8.0% target set by Rabobank.

“2018 was a good year. We have a healthy foundation for the cooperative bank of the future. We’ll need it too, to weather all the challenging transitions affecting society. The global food problem, the challenges of the Paris climate agreement and the agricultural and energy transition in the Netherlands also require a healthy and committed, cooperative bank.”

“Our mission, “Growing a better world together,” gives us direction and guidance. Our employees are inspired and motivated. Thanks to their efforts, we are largely on schedule in achieving most of our targets. We can be of greater significance for (international) society now that our financial results have improved, our capital position has been strengthened and the balance sheet has been further optimized. The fact that Sustainalytics has placed Rabobank at the top of its global sustainability rankings for major banks signifies huge recognition for our efforts in this area and speaks volumes about how we’re putting into practice the ambitions set out in our Sustainability strategy.”

“The private sector loan portfolio rose by EUR 7.9 billion to EUR 416.0 billion in 2018. In line with our growth objectives more clients obtained a loan from Rabobank, particularly in the Wholesale, Rural & Retail (WRR) sector and at our leasing subsidiary DLL. The way our F&A focus impacts international business is becoming increasingly clear. The WRR loan portfolio rose by 9% to EUR 109.0 billion. In line with our Banking for Food strategy, 61% of this portfolio was lent out to the Food & Agri sector. Partly due to extra mortgage repayments, we saw Rabobank's total mortgage portfolio decrease in 2018 to EUR 190.0 billion. The deposits from customers remained stable at EUR 342.4 billion.”

“Operating expenses declined by 8%, which improved the cost/income ratio including regulatory levies by 5.4 percentage points, bringing it to 65.9% (2017: 71.3%). Still, a further cost reduction is necessary to achieve the intended efficiency targets. In 2018 the number of employees (FTEs) decreased by 1,868 (4%). At local banks, many jobs have changed or have disappeared, because of regional clustering of roles and tasks.”

“Rabobank's strong capital position improved even further in 2018. Rabobank’s goal is to achieve a common equity tier 1 (CET1) ratio of at least 14% in 2020. The fully loaded CET1 ratio rose from 15.5% to 16%. Thus, the capital targets for 2020 have already been largely achieved. Rabobank will continue further strengthening its buffers to prepare for compliance with the capital requirements of Basel IV by 2027.”

“Customer satisfaction also rose in 2018, but the sector has not yet managed to restore consistent public confidence. Together, we still have a lot to improve. As a cooperative bank, we can only change that by distinguishing ourselves to the public in a positive way as a strong, customer-oriented organization that fulfills its social responsibility. Rabobank invests continually in risk management, compliance and client integrity.”

“To provide clarity in 2018 on the compensation relating to the reassessment of interest rate derivative contracts, Rabobank sent a letter to all the customers who are eligible for this. At December 31, 2018 almost 6,300 customers had received an offer letter and over 2,500 had received a proposal for a full advance. The project costs were higher than anticipated. We deeply regret that it takes so long to complete the compensation process.”

“The past year proved that the new senior management structure is working effectively. We further optimized the service model of the Dutch banking business, combining digital and personal services with a comprehensive network of offices and services. We are seeing one Rabobank Culture emerging at a rapid pace. Employee satisfaction increased, despite the far-reaching transition that large parts of the bank are experiencing. The number of women in senior positions is high and is set to rise further. Of both the Managing Board members and the Supervisory Board, 40% are women and women represent 31% of the management level reporting to the Managing Board.”

“In 2018 we also achieved an acceleration in the field of innovation. More than 70% of our customers in the Netherlands now bank online. Our Moonshot campaign has already led to 6 new ventures, including Tellow, an app that helps freelancers with their accounting and tax returns. In 2018 we collaborated with innovative start-ups and scale-ups, such as Komgo and We.trade, both blockchain platforms which make it easier for our customers to do international business. Open Banking and PSD2 will quickly change the financial institution landscape. New competitors from the technology sector, among others, will lead to tighter competition and more possible choices for customers.”

“Rabobank wants to encourage the transition of the agricultural sector and to make sustainable food production possible. As a leading international Food & Agri bank, we want to contribute to the solution for the global food problem.By 2050, there has to be enough healthy food to feed around 10 billion people worldwide. We can count about half of the world's top 300 food and agricultural businesses among our customers. Through the work of Rabobank Foundation and Rabo Partnerships we contribute to the financial self-reliance of almost five million small farmers worldwide.”

“Prolonged dry weather in 2018 impacted the agriculture sector in the Netherlands, especially arable farming, the dairy sector and horticulture. Rabobank helps its customers dealing with the consequences by offering a “drought loan,” among other things. Farmers in California and Australia were also able to count on Rabobank at difficult times due to persistent drought.”

“We can look back with satisfaction on the progress we made in 2018, but we are also aware that we are not there yet. In the coming years we will give even more attention to the future of cooperative banking, where we take social responsibility in line with our mission. We do that in a world with many challenges, a low interest rate environment, digitalization, technological advances, trade wars, more stringent regulation and climate change.”

“For the coming years Rabobank forecasts moderate economic growth and a low interest rate environment in the Netherlands and international markets, against a backdrop of risks associated with tensions on the world stage. Rabobank is seeking further growth, in Food & Agri internationally, and in the Netherlands as an all-finance service provider. We remain close to our customers as a cooperative bank and will continue to invest in both digitalization and our national branch network. This enables us to stimulate innovation among our customers and to help them make either their home or business operations more sustainable. The type of social contribution we want to make in all countries in which we operate is becoming clearer every year. Growing a better world together.”

Published: 14 February 2019, 07:30 CET

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, 14 Feb 2019 07:27:24 GMT 259683
<![CDATA[Rabobank confirms ECB capital requirements as of March 2019]]> https://www.rabobank.com/en/investors/irnews_research/investor_news/2019/rabobank-confirms-ecb-capital-requirements-as-of-march-2019.html?utm_medium=RSS Rabobank has received notification of the ECB’s final decision concerning the own funds requirements that it has to meet as of 1 March 2019, following the results of the 2018 Supervisory Review and Evaluation Process (SREP).

The decision requires that Coöperatieve Rabobank U.A. (“Rabobank”) maintains a total SREP Capital requirement of 9.75% on a consolidated and unconsolidated basis. The requirement consists of a 8% minimum own funds requirement and a 1.75% Pillar 2 requirement.

The total CET1 minimum requirement is 6.25% consisting of the minimum Pillar 1 requirement (4.5%) and the Pillar 2 requirement (1.75%). In addition, Rabobank should comply with the combined buffer requirements consisting of a Capital Conservation Buffer (2.5%) and a Systemic Risk Buffer imposed by the Dutch Central Bank (“DNB”) of 3% in 2019. This translates into an aggregate 11.75% CET1 requirement as of 1 March 2019 and is equal to the current fully phased in CET1 requirement. Rabobank targets a CET1 ratio of at least 14%.

Since 2017 the Pillar 2 surcharge has been split by the ECB into the aforementioned Pillar 2 requirement and a Pillar 2 guidance. The 11.75% CET1 requirement does not include the Pillar 2 guidance, which is not disclosed. The Pillar 2 guidance is not relevant for the Maximum Distributable Amount (“MDA”).

With a fully loaded CET1 ratio of 16.0% on 31 December 2018, Rabobank already complies with the requirements for 2019. With a Tier 1 ratio of 19.5% and a Total capital ratio of 26.6% on 31 December 2018 Rabobank also comfortably meets its total SREP capital requirements.

The decision also requires that Rabobank maintains a CET1 ratio of 8.75% on an unconsolidated basis. This 8.75% capital requirement includes the minimum Pillar 1 requirement (4.5%), the Pillar 2 requirement (1.75%) and the Capital Conservation Buffer (2.5%). The unconsolidated CET1 ratio of Rabobank also amounted to 16.0% on 31 December 2018.

Published: 14 February 2019, 08:00 CET

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Investor News Thu, 14 Feb 2019 06:00:00 GMT 259590
<![CDATA[Rabobank earns top spot in global sustainability ranking ]]> https://www.rabobank.com/en/investors/irnews_research/investor_news/2019/rabobank-nr-1-op-duurzaamheidsranglijst-voor-investors.html?utm_medium=RSS Sustainalytics has placed Rabobank at the top of the sustainability rankings for major banks. This means the bank received the highest score for how it applies Environmental Social Governance (ESG) data in its services and approach to risk. Sustainalytics has concluded that the risk of Rabobank incurring financial damage due to environmental and social policy is negligible.

This risk is relevant to institutional investors who wish to invest in sustainable companies. Rabobank held the 62nd position in the rankings just four years ago. The bank earned a top 10 place for the next two years before going on to seize the number two position last year. “Rabobank’s number one position this year speaks volumes about how we’re successfully putting into practice the ambitions set out in our Sustainably Successful Together strategy,” says Bas Rüter, Director of Sustainability at Rabobank.

Sustainalytics is the global leader in sustainability research and ratings for investors. The assessment takes into account both the content of the sustainability policy and how the bank applies it in practice. Rabobank received the best score of all the 294 major banks included in the assessment. Rabobank earns high scores on corporate policy, product policy, human capital and integrating ESG data into its lending operations. While the scores on data privacy & security and business ethics are slightly lower, the risk remains low.

Rüter: “When making lending decisions, Rabobank looks at the extent to which a client complies with our sustainability policy. Prospective clients may only become clients if they comply with the policy. Existing clients must also comply. If they do not meet the requirements we enter into a dialogue with them concerning the necessary changes. If the required changes are not made, the bank suspends provision of services. This integration of policy into our lending operations is extremely important to investors.”

Find out more about our sustainability policy?

Published: 7 February 2019, 09:00 CET

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Investor News Thu, 07 Feb 2019 08:36:45 GMT 259505
<![CDATA[Rabobank confirms Els de Groot as Chief Risk Officer]]> https://www.rabobank.com/en/investors/irnews_research/investor_news/2019/20190201-rabobank-confirms-els-de-groot-as-cro.html?utm_medium=RSS Rabobank confirms the appointment of Els de Groot as Chief Risk Officer and member of the Managing Board. Rabobank announced Els de Groot’s appointment on 18 October 2018, pending approval from the regulators, which is now confirmed.

Els de Groot succeeds Petra van Hoeken in these roles. Els de Groot was Chief Financial Officer of Schiphol Group from 2012 to 2017. Before that she worked as an independent consultant and interim manager, including a role as interim Chief Financial & Risk Officer at Van Lanschot Bankiers. From 1987 to 2008 she held various management positions at ABN Amro Bank, including Executive Vice President Group Risk Management.

Petra van Hoeken will continue as a member of the North America Board of Directors of Rabobank and of the Supervisory Board of DLL, Rabobank’s independent leasing business.

Published: 1 February 2019, 11:00 CET

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Investor News Fri, 01 Feb 2019 13:43:53 GMT 259461
<![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/2019/20190129-notice-to-noteholders-robeco-certificates.html?utm_medium=RSS The Issuer hereby informs the holders of the Certificates that the maturity date of the Certificates of 28 February 2019 shall be extended with a period of one year to 28 February 2020 (the "Maturity Date").

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Investor News Tue, 29 Jan 2019 17:22:29 GMT 259387
<![CDATA[Senior Non-Preferred Law is passed by Dutch Parliament]]> https://www.rabobank.com/en/investors/irnews_research/investor_news/2018/20181214-senior-non-preferred-law-is-passed-by-dutch-parliament.html?utm_medium=RSS The Dutch Parliament and Senate have passed a bill to implement EU Directive 2017/2399 which introduces certain changes to the creditor hierarchy in Dutch law to facilitate a new category of unsecured debt, the “senior non-preferred” debt.

The effective date of the law coming into effect, in the Netherlands is 14 December 2018 (the “Effective Date”).

Prior to the Effective Date, Coöperatieve Rabobank U.A. (“Rabobank”) issued three Series of Notes (identified below), which, upon the implementation of the EU Directive 2017/2399 in Dutch law, would automatically convert into non-preferred senior notes.

Accordingly, the ranking and status of the following notes has automatically converted into non-preferred senior debt of Rabobank:

EUR 1,000,000,000 0.75 per cent. Non-Preferred Senior Notes 2018 due 29 August 2023 (Series 3180A, ISIN: XS1871439342)

USD 1,000,000,000 3.875 per cent. Non-Preferred Senior Notes 2018 due 26 September 2023 (Series 3185A, ISIN Rule 144A: US74977RDE18, ISIN Regulation S: US74977SDE90)

USD $250,000,000 Floating Rate Non-Preferred Senior Notes 2018 due 2023 (Series 3184A, ISIN Rule 144A: US74977RDD35, ISIN Regulation S: US74977SDD18).

Published: 14 December 2018, 18:15 CET

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Investor News Fri, 14 Dec 2018 14:47:48 GMT 258879
<![CDATA[Rabobank data in EBA publication]]> https://www.rabobank.com/en/investors/irnews_research/investor_news/2018/20181214-rabobank-data-in-EBA-publication.html?utm_medium=RSS Coöperatieve Rabobank U.A. notes the announcements made today by the European Banking Authority and the European Central Bank (ECB) regarding the information of the 2018 EU-wide Transparency Exercise and fulfilment of the EBA Board of Supervisors' decision.

At its meetings in February and April 2018, the EBA Board of Supervisors approved the package for the 2018 EU-wide Transparency Exercise, which since 2016 is performed on an annual basis and published along with the Risk Assessment Report (RAR). The annual Transparency Exercise is based solely on COREP/FINREP data on the form and scope to assure a sufficient and appropriate level of information to market participants.

The templates were centrally filled in by the EBA and sent afterwards for verification by banks and supervisors. Banks had the chance to correct any errors detected and to resubmit correct data through the regular supervisory reporting channels.

Published: 14 December 2018, 18:15 CET

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Investor News Fri, 14 Dec 2018 11:51:22 GMT 258863
<![CDATA[Annet Aris appointed to Rabobank Supervisory Board ]]> https://www.rabobank.com/en/investors/irnews_research/investor_news/2018/20181212-annet-aris-appointed-to-rabobank-supervisory-board.html?utm_medium=RSS The General Members Council of Rabobank has appointed Annet Aris as a member of the Supervisory Board. Annet Aris (1958) studied Agricultural Science and Land Development at the University of Wageningen and obtained an MBA from INSEAD Business School. From 1985 to 2003 she worked as a consultant and partner at McKinsey in Amsterdam, London and Munich. Since 2003 Annet Aris has been a faculty member at INSEAD where as Senior Affiliate Professor of Strategy she lectures on topics including ‘Digital transformation of society, industries and companies’. Annet Aris is a member of the Supervisory Board of other organizations including Randstad N.V., ASML N.V. and Jungheinrich AG.

Annet Aris has been appointed for a four-year term. The General Members Council has also reappointed Arian Kamp to the Supervisory Board for a second four-year term. Arian Kamp joined Rabobank’s Supervisory Board in 2014.

Chairman of the Supervisory Board Ron Teerlink: “We aim for a balanced composition in the Supervisory Board. Annet Aris brings in-depth knowledge of digital transformation and innovation and is a valuable addition to our team.”

The Supervisory Board of Rabobank is comprised of Ron Teerlink (Chair), Marjan Trompetter (Vice Chair), Annet Aris, Irene Asscher-Vonk, Leo Degle, Petri Hofsté, Arian Kamp, Jan Nooitgedagt and Pascal Visée.

Published: 12 December 2018, 18:15 CET

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Investor News Wed, 12 Dec 2018 18:15:00 GMT 258827
<![CDATA[S&P Global affirms A+ / A-1 rating with Positive outlook]]> https://www.rabobank.com/en/investors/irnews_research/investor_news/2018/20181128-sp-global-affirms-rabobanks-rating.html?utm_medium=RSS


On 28 November 2018 S&P Global Ratings updated their website (see www.standardandpoors.com) to reflect the fact that they have affirmed Rabobank’s ratings at ‘A+ / A-1’ with a Positive Outlook. They expect to publish an updated full credit report within the next few weeks.


Published: 28 November 2018, 8:00 pm CET
 
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 Wed, 28 Nov 2018 19:56:43 GMT 258630
<![CDATA[ Fitch affirms AA- rating with Stable outlook]]> https://www.rabobank.com/en/investors/irnews_research/investor_news/2018/20181114-fitch-affirms-rating-and-outlook.html?utm_medium=RSS On 13 November 2018 Fitch Ratings has affirmed Rabobank's Long-Term Issuer Default Rating (IDR) at 'AA-' with a Stable Outlook, the Viability Rating (VR) at 'a+' and Short-Term IDR at 'F1+'. The rating actions are part of a portfolio review of major Dutch banking groups rated by Fitch.

Rabobank's Long-Term IDR and senior debt ratings are one notch above its Viability Rating. According to Fitch 'the one-notch uplift reflects the bank's significant qualifying junior debt buffer, which could be made available to protect senior obligations from default in case of failure.'.
 
 
Published: 14 November 2018, 9:30 CET
 
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 Wed, 14 Nov 2018 09:10:03 GMT 258390
<![CDATA[Rabobank: 2018 EU-Wide Stress Test Results]]> https://www.rabobank.com/en/investors/irnews_research/investor_news/2018/20181102-2018-eu-wide-stress-test-results.html?utm_medium=RSS Rabobank took part in the 2018 EU-wide stress test conducted by the European Banking Authority (EBA), in cooperation with De Nederlandsche Bank (DNB), the European Central Bank (ECB), and the European Systemic Risk Board (ESRB).

Rabobank notes the announcements made today by the EBA on the EU-wide stress test and fully acknowledges the outcomes of this exercise.
 
The 2018 EU-wide stress test does not contain a pass fail threshold and instead is designed to be used as an important source of information for the purposes of the SREP. The results will assist competent authorities in assessing Rabobank’s ability to meet applicable prudential requirements under stressed scenarios.
 
The adverse stress test scenario was set by the ECB/ESRB and covers a three-year time horizon (2018-2020). The stress test was carried out applying a static balance sheet assumption as at December 2017, and therefore does not take into account future business strategies and management actions. It is not a forecast of Rabobank’s profits. As Rabobank is still in the midst of implementing its strategic objectives the results only partly capture the effects of these objectives.
 
In the baseline scenario Rabobank’s fully loaded common equity Tier 1 ratio (CET1) would amount to 16.0% as per FYE 2020. Under the adverse scenario the CET1 ratio would end at 11.4% as per FYE 2020. 
Rabobank remains committed to its strategic goals. The outcome of the exercise does not result in additional management actions. 
 
The full results for Rabobank are available on the EBA website (via the link below).
Published: 2 November 2018, 18:15 CET
 
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 Fri, 02 Nov 2018 16:46:02 GMT 258209
<![CDATA[DBRS confirms ratings Rabobank at AA, trend Stable]]> https://www.rabobank.com/en/investors/irnews_research/investor_news/2018/20181101-dbrs-confirms-ratings-rabobank.html?utm_medium=RSS On 1 November 2018 DBRS Ratings Limited (DBRS) confirmed Rabobank’s long-term issuer rating as well as its long-term senior debt and deposit rating at AA. The short-term issuer rating was confirmed at R-1 (high). The trend on all ratings remains Stable.

According to DBRS the confirmation of the ratings “takes into consideration the Group's leading franchise in the Netherlands and in food & agriculture financing. The ratings also incorporate the strong financial fundamentals of Rabobank, including a robust capital position and sound asset quality as well as the Group's strengthened funding profile and large liquidity buffers. Conversely the ratings also reflect Rabobank's still modest albeit improving profitability and efficiency levels.”.
 
Published: 1 November 2018, 16:30 CET
 
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, 01 Nov 2018 09:03:28 GMT 258198
<![CDATA[Els de Groot proposed as Chief Risk Officer Rabobank]]> https://www.rabobank.com/en/investors/irnews_research/investor_news/2018/20181018-els-de-groot-proposed-as-cro-rabobank-ir.html?utm_medium=RSS The Supervisory Board of Rabobank intends to appoint Els de Groot as Chief Risk Officer (CRO) and member of the Managing Board of Rabobank. Els de Groot will succeed Petra van Hoeken in these roles. The appointment of Els de Groot is pending regulatory approval and a positive recommendation by the Works Council. We expect that the approval processes will be completed by the end of 2018.

Els de Groot was Chief Financial Officer (CFO) of Schiphol Group from 2012 to 2017. Before that she worked as an independent consultant and interim manager, including a role as interim Chief Financial & Risk Officer at Van Lanschot Bankiers. From 1987 to 2008 she held various management positions at ABN Amro Bank, including Executive Vice President Group Risk Management. Petra van Hoeken will continue as a member of the North America Board of Directors of Rabobank and of the Supervisory Board of DLL, Rabobank’s independent leasing business.
Ron Teerlink, chairman of the Supervisory Board of Rabobank: “Petra van Hoeken has laid a new and sound basis for the bank’s risk awareness. Drawing on decades of international experience she has brought about key improvements to our risk management and reporting system. Rabobank deeply appreciates Petra’s commitment and contributions and we are pleased that she will stay connected to the bank. As the bank moves to the next phase of its transition we are sure that Els de Groot will prove to be a dedicated Chief Risk Officer who will build on the foundations put in place under Petra’s leadership.”
 
 
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, 18 Oct 2018 09:03:28 GMT 257910
<![CDATA[Mirjam Bos appointed as Head of Investor Relations & Rating Agencies]]> https://www.rabobank.com/en/investors/irnews_research/investor_news/2018/mirjam-bos-appointed-head-irra.html?utm_medium=RSS As of the 1st of October Mirjam Bos has been appointed as Head of Investor Relations & Rating Agencies (IR&RA) succeeding Pauline Bianchi, who decided to step down as Head of IR&RA.

Mirjam has extensive experience in the Markets domain, where she led the FI & SSA Origination team and previously arranged and structured covered bonds and securitization transactions. Before joining Rabobank in 2011, Mirjam worked for ABN AMRO and law firm NautaDutilh in multiple legal roles.
Pauline will remain part of the team as Senior Advisor IR&RA.
 
Contact details Mirjam Bos:
+31 (30) 712 24 01
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Investor News Mon, 08 Oct 2018 09:03:28 GMT 257732
<![CDATA[Rabobank: EUR 1,698 million net profit in first half 2018]]> https://www.rabobank.com/en/investors/irnews_research/investor_news/2018/20180816-rabobank-eur-1-698-million-net-profit-in-first-half-2018.html?utm_medium=RSS

  • Upward trend in customer satisfaction for 3rd consecutive year.
  • Rabobank was named Industry Leader by Sustainalytics and was the highest scoring major Dutch bank in the latest Sustainable Brand Index.
  • Net profit EUR 1,698 million (+12%).
  • Negative impairment charges thanks to favorable economic developments and careful credit management.
  • Solid capital position: fully loaded common equity tier 1 ratio up from 15.5% to 15.8%.

In the first half of 2018 Rabobank posted a net profit of EUR 1,698 million, 12% more than in the first half of 2017. This result was underpinned by favorable economic conditions, which contributed to a net release in impairment charges. Income remained more or less stable and costs fell causing the cost/income ratio to improve. The private sector loan portfolio and the deposits from customers increased. Underlying profit before tax, adjusted for the impact of restructuring costs and fair value items, came out 2% higher. Rabobank's capital base is strong: the fully loaded common equity tier 1 ratio rose once again and now stands at 15.8%. The return on invested capital was 8.8%, exceeding the targeted 8.0% (1H 2017: 7.8%).

Chairman of the Managing Board Wiebe Draijer:

“We are on track with the implementation of our Strategic Framework for 2016-2020. We have achieved our goals in many areas. In line with our ambitions, we have improved our customer service and financial performance. We are dedicating great vigor to putting our mission of ‘Growing a better world together’ into practice. We want to ensure that we can build on this momentum in the coming years in a rapidly changing environment. Our employees are center stage in this process. They are the ones making our bank’s transition a reality, and we are deeply grateful for their efforts, especially given the scope and number of changes on the agenda within our organization this year.”

“Once again we have concentrated our efforts on improving our customer focus and making our cooperative bank more robust. Innovation and sustainability are our top priorities. Both in the Netherlands and abroad, our awareness-raising campaigns have focused on social issues like good financial health, the importance of growth for entrepreneurs, and reducing food waste. In addition, we invested great effort in improving sustainability throughout the food chain. Customers are rewarding our efforts with higher customer satisfaction scores, which is a great compliment for our employees.”

Read more

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Investor News Thu, 16 Aug 2018 15:42:59 GMT 256800
<![CDATA[Analyst webcast H1-2018 results]]> https://www.rabobank.com/en/investors/irnews_research/investor_news/2018/invitation-analyst-webcast-H1-2018.html?utm_medium=RSS On 16 August 2018 Rabobank's CEO Wiebe Draijer and CFO Bas Brouwers hosted a webcast and call for analysts and institutional investors covering our 2018 interim results.

The press release and interim report on the H1-2018 results are available here. The Investor Relations presentation on the H1-2018 results and the presented sheets during the Analyst webcast are available here.

Please click here for the on-demand version of our Analyst Webcast H1-2018 results, including the sheets presented.

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Investor News Thu, 16 Aug 2018 09:03:28 GMT 251758
<![CDATA[Rabobank upwardly adjusts its price forecast for the Dutch housing market: prices expected to rise 8.7% in 2018]]> https://www.rabobank.com/en/investors/irnews_research/investor_news/2018/20180815-rabobank-upwardly-adjusts-its-price-forecast-for-the-dutch-housing-market-prices-expected-to-rise-8-7-in-2018.html?utm_medium=RSS In the first half of 2018 Dutch homebuyers paid on average 8.9% more for owner-occupied homes than in the previous year. This is higher than expected because, among other reasons, overbidding has become much more widespread. Prices are now forecast to rise by 8.7% in 2018 as a whole, Rabobank economists write in their Dutch Housing Market Quarterly. They had previously predicted an 8.0% price hike. In contrast with prices, home sales are declining a tad quicker than previously anticipated.

Senior housing economist Christian Lennartz explains: ‘The current high prices for owner-occupied homes are undermining buyers’ confidence in the housing market. Consumers who feel it is an unfavourable time to buy a house now outweigh those that feel it is still a favourable time.’ He expects that such waning confidence, together with increasingly limited choice for both first-time and next-time buyers, will dampen sales activity. ‘For 2018 as a whole we expect around 225,000 transactions, compared to 2017’s 242,000’.

Scarcity of housing is one of the main drivers behind the current price boom in the Netherlands, and increasing construction is therefore one of the main goals of the government coalition. This is a tough challenge, Lennartz explains: ‘In the first half of this year the number of building permits issued has declined. At this rate the construction of new homes will keep lagging behind household growth.’

Read the full Dutch Housing Market Quarterly on https://economics.rabobank.com/

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Investor News Wed, 15 Aug 2018 13:01:13 GMT 256795
<![CDATA[Rabobank Launches First Ever ESG leader Commercial Paper and Certificate of Deposit Programme]]> https://www.rabobank.com/en/investors/irnews_research/investor_news/2018/20180813-rabobank-launches-first-ever-esg.html?utm_medium=RSS PRESS RELEASE

Rabobank is the first issuer to launch an “ESG Leader” Commercial Paper and Certificate of Deposit Programme in the money market (the “ESG Leader Programme”). The ESG Leader Programme offers short term investments in Rabobank as a leader in environmental, social and governance (ESG) which may be labelled as ESG investments. This innovative ESG Programme is in line with Rabobank’s ongoing efforts in being at the forefront for a stronger and sustainable future. The ESG Leader Programme provides investors with more diversified investment opportunities and contributes to capital being channelled to more sustainably operating companies. 

Rabobank is the first company to launch such an ESG-labelled Programme as an ESG leader. The first launch that amounted to EUR 1.2 billion was highly successful in view of immediate acceptance by the buy-side market parties. The size of the program is EUR 5 billion maximum.  Rabobank may issue ESG Leader paper as long as it maintains its ESG Leader status as assessed by Sustainalytics.

Why has Rabobank launched this programme?

Robert Ruisch, head of Rabobank’s Commercial Paper and Certificates of Deposit Trading Desk, says: “We noticed that money markets did not yet offer products to responsible investors, which limits investors seeking both diversification of their investments and higher positive impacts of their investments. Our new programme opens the opportunities to do so for investors.” Frank Beset, head of Rabobank’s Treasury Liquidity Management: “The programme offers us the opportunity to diversify our funding instruments and cater specifically to the needs of responsible investors. Moreover, we want to be a first mover in responsible finance and investing products, just as we have been part of the launch of Green Bonds, Social Bonds, and Green Loans from their very start.”

What is an ESG Leader?

The ESG Leader classification of Rabobank is based on an independent assessment of our environmental, social and governance performance by Sustainalytics, a leading global provider of environmental, social and corporate governance (ESG) research and ratings. Sustainalytics provides research and ratings on 11,000 companies in terms of their ESG performance, and then ranks these companies relative to industry peers. Sustainalytics rates a company’s ESG performance on a 0 to 100 point scale. Companies who rank among the top 5% of their industry peers are classified as ESG Leaders within Sustainalytics’ coverage universe. Rabobank has a top 5% position in its industry.

What is the difference with other ESG-labelled financial market instruments?

In capital markets, where investments have a longer time horizon, bonds are deemed sustainable when they comply with market standards like the Green Bond Principles or Social Bond Principles, of which Rabobank is a founding member. A prime characteristic of the sustainable bond market is the focus on a sustainable use of proceeds: bond issuers are transparent about the projects and assets which are financed by the bond, and they disclose environmental or social benefits and impacts of those projects. This approach, however, is not fit for commercial papers and certificates of deposit, due to their short term nature: loans are redeemed by the issuer within a year and deposits are returned to the depositor within a year. Portfoliomanagement and reporting efforts would overburden these instruments. Loans may have already been redeemed or deposits have been returned to the depositor when the reports would become available. “Hence, we sought other ways to qualify these money market instruments in a robust way that provides trust to the investors that their money is invested with a company that is recognized as a leader for its environmental, social and governance performance, through independent,  rigorous and systematic research by Sustainalytics”, says Olaf Brugman, head of Rabobank’s Sustainable Markets Desk.

Financial Innovation

This first of its kind application of ESG research and ratings to money market instruments is made possible by the innovative power of Rabobank and the respected independence of Sustainalytics. Applying its ESG Leader classification, Rabobank is able to offer ESG-qualified short term money market investment opportunities to investors, in addition to offering access to longer term capital investments such as Green Bonds.

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Investor News Mon, 13 Aug 2018 11:00:00 GMT 256739
<![CDATA[Rabobank: response to the Dutch Government’s intention to cancel tax deductibility of CoCo coupons]]> https://www.rabobank.com/en/investors/irnews_research/investor_news/2018/20180702-Rabobank-response-government-intention-to-cancel-tax-deductibility-of-coco-coupons.html?utm_medium=RSS Rabobank took notice of the letter to Parliament and the press release by the Dutch Ministry of Finance dated 29 June 2018, in which it is stated that the Dutch Government intends to cancel the tax deductibility of coupons paid by banks and insurance companies on Additional Tier 1 capital instruments (also: Contingent Convertibles (CoCo’s)) as from 1 January 2019.

Based on the press release and letter sent to Parliament, the current preliminary assessment is that such decision would focus on CRD IV compliant instruments. For Rabobank this means that the 5.5% EUR 1.5bn Capital Securities (XS1171914515) and EUR 1.25bn 6.625% Capital Securities (XS1400626690) could be in scope. Please note that there is no formal law change or amendment or any legislative proposal thereto available yet, so this is a preliminary conclusion. 
 
The announced intention by the Ministry of Finance does not currently trigger any change in our views with regards to the role of Coco’s as part of Rabobank’s capital strategy nor does Rabobank intend to exercise a Tax Call if the Government’s intention or the materialisation thereof would constitute a Tax Law Change (as defined in the relevant terms and conditions of the capital instruments in scope). 
 
Please find a link to the statement from the Ministry of Finance here.
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Investor News Mon, 02 Jul 2018 16:42:16 GMT 255973