2) 'Rabobank Vision 2005+'
3) Evaluation of local management model
4)Budget 2004
5) Changes to AGRB and financing matters
8 Rabobank Group Annual Report 2003
This project, too, has the Supervisory Board's special attention.The
project made good progress in 2003. In the second half of the year, the
Central Delegates Assembly gave a positive opinion on the project's
recommendations. Meanwhile much work on the implementation of
the recommendations is being carried out all over the country under
the leadership of the management of the twenty Delegates'Assemblies.
The Supervisory Board emphasised at an early stage the need for a high
degree of care as to both the content and the process.Given the quality
of the implementation and the organised involvement of all the member
banks in the consultations, the Supervisory Board believes that the
necessary care has been taken. In connection with this issue, the
Supervisory Board regularly advised the Executive Board as regards
both content and process.
This project was likewise monitored intensively by the Supervisory
Board, with the Co-operative Issues Committee (CIC) taking the lead.This
committee dealt at great length with the outcome of the internal survey
on the effectiveness of the existing management model at a local level.
During the further implementation, the CIC consistently advocated the
need for a proper balance between the three pillars of co-operative
corporate governance: effective management, independent supervision
and appropriate member control.These pillars must be assured, whatever
the model.The members of the Supervisory Board not only worked to
identify these important standards but also closely monitored the
management activities relating to the progress of this project.
In compliance with the Articles of Association, the Supervisory Board
discussed and approved the budget for 2004.The Audit Committee
carried out important preparatory work. In this context, the members
of the Supervisory Board were strongly in favour of the proposal for a
thorough review of the desired and necessary activities of Rabobank
Nederland, among other things. With the increasing professionalism of
the member banks, enabling them to better organise various kinds of
functions independently, their need of support from Rabobank
Nederland is set to change.
The Supervisory Board has extensively deliberated on the changes to
the General Approval Arrangement for Businesses (AGRB), which
describes the framework within which the member banks can grant
loans independently. In addition, the Audit Committee obtained
advice periodically on selected large credit items in the context of risk
management.
Launching the
-Q
Generation mortgage.
Rabobank opens
the first Service Shop.
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