Rabobank
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| Naamloze vennootschap | |
| Industry | Financial services |
| Predecessors | Raiffeisen-Bank Boerenleenbank |
| Founded | 1972 |
| Headquarters | Rabotoren, Utrecht, Netherlands |
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Number of locations
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520 (Netherlands) 428 (elsewhere) (2015) |
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Area served
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Worldwide |
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Key people
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Wiebe Draijer (Chairman of the Board) Bas Brouwers (CFO) |
| Products |
Banking Insurance Leasing Real estate |
| Revenue | |
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| Profit |
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| Total assets |
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| Total equity |
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Number of employees
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| Website | www.rabobank.com |
€4.802 billion (2014)Rabobank (Dutch pronunciation: [ˈraːboːbɑŋk]; full name: Coöperatieve Rabobank U.A.) is a Dutch multinational banking and financial services company headquartered in Utrecht, Netherlands. It is a global leader in food and agriculture financing and sustainability-oriented banking. The group comprises 129 independent local Dutch Rabobanks (2013), a central organization (Rabobank Nederland), and a large number of specialized international offices and subsidiaries. Food and agribusiness is the prime international focus of the Rabobank Group. Rabobank is the second-largest bank in the Netherlands in terms of total assets.
A 2013 scandal resulted in a $1 billion fine for unscrupulous trading practices, including the manipulation of LIBOR currency rates worldwide. Chief Executive Piet Moerland resigned immediately as a result.
In terms of Tier 1 capital, the organisation is among the 30 largest financial institutions in the world. As of December 2014, total assets amount to €681 billion with a net profit of €1.8 billion. Global Finance ranks Rabobank 25th in its survey of "the world's safest banks".
Rooted in agriculture, Rabobank is set up as a federation of local credit unions, which offer services to the local markets. The central organisation is a subsidiary of local branches—not the parent, as is the case with most banks.
The bank is rooted in the ideas of Friedrich Wilhelm Raiffeisen, the founder of the cooperative movement of credit unions, who in 1864 created the first farmers' bank in Germany. Being a countryside mayor he was confronted with the abject poverty of the farmers and their families. He tried to alleviate this need through charitable aid, but realised that self-reliance had more potential in the long run, and thus converted his charitable foundation into a farmers' bank in 1864. In doing so he created the Darlehnskassen-Verein, which collected the savings of countryside dwellers and provided enterprising farmers with loans.
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Wikipedia