11.12.2015, 23:24
Rabobank General Assembly approves new cooperative structure
OREANDA-NEWS. The General Assembly of Rabobank Nederland today unanimously approved the changes to the governance of Rabobank. Representatives of all 106 local Rabobanks took part in the Assembly held in Utrecht. The approval of the General Assembly means the new structure can definitively go into effect on 1 January 2016. The member councils of all 106 local Rabobanks already approved the new structure on 2 December 2015.
Wout Dekker, Chairman of the Supervisory Board of Rabobank and Chairman of the General Assembly, calls this a momentous day in the Rabobank’s 120-year history: ‘The approval of the General Assembly marks the conclusion of a thorough and painstaking decision-making process. A tremendous amount of work has been carried out at every level of Rabobank over the past eighteen months in order to gather support for the new model. I am delighted to see unanimous support. Rabobank is a cooperative bank that has a prominent social role with 106 local Rabobanks and 1.9 million members at its core. The merger of 107 entities, one of the largest in Dutch history, creates a single Rabobank with a total balance sheet of EUR 675 billion (per 30 June 2015). The new model is fit for the future and will support Rabobank in implementing its new strategy and fulfilling its mission with verve. Rabobank’s ambition is to make a substantial contribution to welfare and prosperity in the Netherlands and to feeding the world sustainably in 2050. The strategic programmes Banking for Food and Banking for the Netherlands fit seamlessly with this ambition.
The 106 local Rabobanks and Rabobank Nederland will work together within one cooperative with one banking license and one set of financial statements as of 1 January 2016. Rabobank is also anticipating new legal and regulatory requirements through the new structure and gearing up to respond more effectively and efficiently to future developments.
As a result of the new structure, the legal name of Rabobank Nederland will change from Co?peratieve Centrale Raiffeisen-Boerenleenbank B.A. in Co?peratieve Rabobank U.A.
Wout Dekker, Chairman of the Supervisory Board of Rabobank and Chairman of the General Assembly, calls this a momentous day in the Rabobank’s 120-year history: ‘The approval of the General Assembly marks the conclusion of a thorough and painstaking decision-making process. A tremendous amount of work has been carried out at every level of Rabobank over the past eighteen months in order to gather support for the new model. I am delighted to see unanimous support. Rabobank is a cooperative bank that has a prominent social role with 106 local Rabobanks and 1.9 million members at its core. The merger of 107 entities, one of the largest in Dutch history, creates a single Rabobank with a total balance sheet of EUR 675 billion (per 30 June 2015). The new model is fit for the future and will support Rabobank in implementing its new strategy and fulfilling its mission with verve. Rabobank’s ambition is to make a substantial contribution to welfare and prosperity in the Netherlands and to feeding the world sustainably in 2050. The strategic programmes Banking for Food and Banking for the Netherlands fit seamlessly with this ambition.
The 106 local Rabobanks and Rabobank Nederland will work together within one cooperative with one banking license and one set of financial statements as of 1 January 2016. Rabobank is also anticipating new legal and regulatory requirements through the new structure and gearing up to respond more effectively and efficiently to future developments.
As a result of the new structure, the legal name of Rabobank Nederland will change from Co?peratieve Centrale Raiffeisen-Boerenleenbank B.A. in Co?peratieve Rabobank U.A.
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