Business News

Rabobank announces increase in profits during first half of 2015

By Business & Finance
20 August 2015

Rabobank’s net profit in the first six months of 2015 amounted to €1.52bn, a 41% rise from the first half of last year.

The increase in profit in the first half of 2015 was mainly due to the decline in loan impairment charges.

Amounts due to customers also rose and savings by retail customers were up 1%, despite additional mortgage repayments.

The Dutch economy also grew in the first half of 2015, reflecting increased exports and the growth of domestic spending, stimulated by the improving housing market.

Wiebe Draijer, executive board chairman, said: “Our financial results increased substantially in the first half of 2015. There has been a rise in customer satisfaction and we have had to set fewer funds aside for customers facing financial difficulties.

“We must continue to adapt and improve to provide our customers with the best possible service both now and in the future. It is vital that we continue to reduce costs and improve income further, given the intensive competition and stricter capital requirements. We are working on adapting our governance model and are developing a new Strategic Framework. This process will be concluded in December 2015.”

Photo: Ben Kraan Architecten BNA