Cooperative dividend
9 Rabobank Group Annual Report 2005
Chairman's foreword
In conclusion: it is no secret that Rabobank differs from other banks. Our
bank operates differently. We are not a listed enterprise that considers
shareholder value its highest goal. Instead of dividends to external
shareholders, Rabobank each year distributes part of its profit to the
communities in which it is firmly rooted and in which it actively partici
pates. We call this our 'cooperative dividend'. Profit optimisation is our
goal, not profit maximisation. Each year, the local Rabobanks allocate
tens of millions of euros to numerous local initiatives. Increasingly, this
cooperative dividend is being spent on initiatives that aim to support
member and client groups in their development. Cooperative dividend,
then, is at the heart of this Report for 2005. Pulsating through all its
chapters, you will find a selection of examples showing how the local
Rabobanks translate our cooperative dividend into practice.
I hope you will read it with pleasure!
Bert Heemskerk
Chairman of the Executive Board of Rabobank Nederland
