The
Expert
RABO ROOTS
Global
Aa[Gc
NAAAB cliënt meeting discusses
'security and insecurity'
Americas
NEWS
fc# Wm
Rabobank is known as a social bank - a bank
rooted in the communities and sectors where its
customers work, and one that aims to play its part
in supporting their development. This image of
Rabobank is accurate, and I am proud of that. To
take it one step further, outsiders as well as insiders
often perceive Rabobank as a 'soft', non-commer
cial bank. But that is inaccurate.
More than a century ago, cooperatives were
formed out of dire economie necessity. They were
the only way members could borrow the money
they needed for their businesses. The founders of
cooperative banks did not have to put in equity
and were never shareholders; rather, every member
was fully liable for the entire debt of their coopera
tive bank. Even in those days, there was nothing
'soft' about it; it was a commercial structure based
on enlightened self-interest.
The build-up of a strong equity base from annual
profits has now made it possible to do away with
members' liability. But today's Rabobank still has
no individual shareholders. This means that it can
devote its full attention to long-term continuity
and customer interests. Although it is a commercial
bank, it is not driven by shareholder value. That is
why Rabobank can follow a conservative strategy,
with a modest objective for return on equity and
restrained growth. Thanks to this strategy, support-
ed by a unique cross-guarantee system, Rabobank
has the highest creditworthiness.
So it is a misconception to believe that Rabobank is
a cooperative bank because it wants to be a social
bank. Rabobank can only be a social bank because
it is a strong bank. And the fact that it is a strong
bank is largely thanks to its cooperative nature.
Food Agri specialist,
Rabobank Group Investor Relations
Rabobank's innovative online story-
telling, Rabo Roots, will be launched
internationally at the end of October.
Rabo Roots uses 17 'windows' to
convey a series of stories that por-
tray the bank's history, its corporate
values and its vision for the future.
Each window is a still or moving
image and is accompanied by a
short, insightful story.
The international edition is timed
to go live before the upcoming UN
International Year of Cooperatives,
which is sponsored by Rabobank. The
first Rabo Roots is online, in Dutch,
on www.rabocanon.nl and the
international version is published
on
Regional offices are expected to
follow with a local version.
Rl-North America Wholesale held its annual North American Agribusiness
Advisory Board (NAAAB) meeting in September. The theme of the two-day
programme was 'Security and Insecurity', with panel discussions on Macro
Outlook: Money, Markets and Risk, and New Food Chain Economics in an Era of
Scarcity. Bill Cordingley, Head of FAR Americas, delivered a presentation about
developments in the global F&A industry.
NAAAB is composed of executives from 21 top North American F&A clients.
They share views on the industry and counsel Rabobank on its role as a
premier F&A financier. Attendees include: prominent experts in economics,
finance, government and agriculture, top clients, and Rabobank managers
and bankers.
Sipko Schat, Chairman, Rl
Wholesale MT, said: "NAAAB
is an excellent format for
the translation of our
cooperative principles
internationally, ensuring
our business activities
remain aligned with our
clients' interests and further
strengthening those key
relationships."
8 ISSUE 29 OCTOBER 2011 Rl WORLD
