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Several years ago, Rabobank decided to place the focus of its international strategy on
food agri, in line with our agricultural origins. Current events show that this decision was
spot on, food agri is a world-wide booming business. In the future, we will look into the
cooperative structure and how it can be given shape in an international context.
Another goal is to expand our positions in sustainable energy globally, not only in
biogases but also in wind, solar and hydrogen. Although this is not without risk, Rabobank
relies on the knowledge and experience it has gained in this field over the past years.
Rabobank International will increase its focus on trade in such items as emission rights,
weather derivatives and harvest insurance.
In the Netherlands, the schedule for the local Rabobanks includes the Rabo 2010 project.
This involves full integration of the physical local Rabobank, the local call centre, local
Internet and local RaboTV, which will make us accessible locally 24 hours a day, 7 days a
week. This makes Rabobank unique in the world. The operation will result also in fewer FTEs
in the mid and back offices, with more people being deployed in the front office.
Rabobank 2010 anticipates on the trend of products being increasingly offered and taken
out via new channels, such as the Internet.
Finally, no matter how economic developments will work out in 2008, Rabobank Group
will maintain its principle of opting for sustainable solutions in all its planning.
Hard commodities, such as copper, iron and oil will remain scarce. Indeed, their reserves will
be depleted sooner or later. The so-called soft commodities, such as soy, coffee and palm oil,
although they are renewable, will likewise reach a degree of scarcity as a result of growth of
the world population and their growing use in biomass as a basis for sustainable energy.
This calls for caution from all of us.
What matters, is the continued, healthy existence of our planet, and mankind must not
overuse it. Already, we notice climate changes and an increase in the occurrence of natural
disasters. We cannot ignore this and will have to act together - all of us - to fight it, even at
the cost of some growth.
All things considered, I am very proud of our bank's performance in 2007, the year in which
sustainability and profitability went hand in hand so naturally. In opting for sustainability,
a choice that dovetails seamlessly with our cooperative roots, we have chosen the right path.
I am convinced it is the path towards Rabobank's sound financial and socially responsible
continuity, also in the longer term.
Bert Heemskerk.
Chairman of the Executive Board
of Rabobank Nederland
