Corporate governance
Rabobank Group is comprised of independent local Rabobanks, Rabobank
Nederland, their umbrella organisation, and a number of specialist subsidiaries.
Given its mission, Rabobank puts customer interests first in its day-to-day
operations. In other words, it is Rabobank's ambition to offer its customers
suitable and appropriate financial services. The bank's cooperative structure
allows it to build long-term relationships with customers, which helps to
guarantee continuity of services in times of profitability and encourages
sustainable investments in customer relations on an ongoing basis.
The local Rabobanks are the core of the Rabobank organisation. Similar to Rabobank Nederland,
they are independent cooperatives. The local Rabobanks, for their part, are members of, and
shareholders in, Rabobank Nederland.
The local Rabobanks are deeply rooted in their local geographical areas and their goal is to
contribute to the development of the local economy. The local Rabobanks are organised in
twelve Regional Delegates Assemblies, each with a Board whose members also sit on the
Central Delegates Assembly, a body responsible for much of Rabobank Nederland's policy
making. The Regional Delegates Assemblies appoint the members of the Central Delegates
Assembly as their representatives at local and group level. All local Rabobanks together form
the General Meeting of Rabobank Nederland, the highest body in the governance structure,
whose responsibilities include appointing the members of the Supervisory Board of
Rabobank Nederland.
The policies of Rabobank Group are based on its strategic principles. The interrelationship
between risk, return and capital is crucial in the decision-making process. Standards based
on regulatory and other provisions have been formulated for Rabobank Group's organisation
and control.
Dutch Corporate Governance Code
Rabobank Nederland has decided to pursue voluntary compliance with the Dutch Corporate
Governance Code, although, as a cooperative, it is under no obligation to do so. Due in part to
its cooperative structure, Rabobank Nederland does not comply with the Dutch Corporate
Governance Code in a number of respects. For more information on this topic, please log on
to www.rabobank.com/investor_relations/corporate_governance/.
Dutch Banking Code
The Board of the Dutch Banking Association adopted the Banking Code for Dutch banks in 2009
in response to a report entitled 'Restoring Trust' (Naar herstel van vertrouwen) published by the
Advisory Committee on the Future of Banks. Rabobank Nederland modelled its governance
structure on the Banking Code in 2010, after having made the necessary preparations in 2009.
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Corporate governance
