Rabobank Group's objectives and strategy are set out in the Strategic Framework. The updated Strategic Framework for the period 2009-2012 was adopted by the Central Delegates Assembly in 2009. This framework offers Rabobank Group the opportunity to hold a strong market position in the Netherlands and abroad in the long term, and also provides a sound basis for continuing as a going concern and creating customer value. Moreover, Rabobank is taking steps in anticipation of new regulations relating to solvency and liquidity to be introduced by the Basel Committee on Banking Supervision. Strategic core objectives and financial targets Strategic starting points The strategic core objectives are as follows: - become the Dutch all-finance market leader; - build on Rabobank's position as the world's leading international food and agri bank; - achieve further growth at, and greater synergy with, subsidiaries. An adequate tier 1 ratio and stable profit growth are necessary in order to maintain a high creditworthiness. Given this, Rabobank Group has formulated the following long-term financial targets: - a tier 1 ratio of at least 12.5%2; - a minimum return on equity of 8%; - 10% net profit growth annually. Since its foundation in 1898, Rabobank Group has grown from a collection of small rural cooperative banks into the leading provider of all-finance services in the Netherlands and one of the top international food and agri banks. The Strategic Framework positions Rabobank Group as 'the leading food and agri bank with Dutch roots', based on the strategic starting points set out below. - cooperative identity; - ambition to become Dutch all-finance market leader; - status as a leading food and agri bank; - continued high credit rating; - sound corporate social responsibility (CSR) policy. 2 The actual target for the tier 1 ratio is in fact higher than the formal target, owing in part to developments relating to Basel III. Cooperative identity Rabobank is, and will continue to be, a cooperative that puts the client's interests first. Its structure and procedures set it apart from its competitors. Members exercise influence and control, imposing discipline on the cooperative. A sober approach to management and efficiency are integral to the cooperative nature of Rabobank. As part of its commitment to society, Rabobank endeavours to play a connecting role within the communities and markets in which it operates. To actively contribute to improving the quality of society, the bank 10 Annual Report 2010 Rabobank Group

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Annual Reports Rabobank | 2010 | | pagina 11