Rabobank International and subsidiaries
People unite the bank
Sustainability
a structural basis at the Dutch retail banking business. Besides cost considerations, changing
client needs in particular are forcing Rabobank to evaluate critically the branch location policy
and the entire service chain, which extends from the local Rabobanks to Rabobank Nederland.
The local Rabobanks'commitment to, and physical presence in, local communities and
neighbourhoods where clients and members reside should not be allowed to suffer, and this
will require all employees to make great efforts once again. Standardisation and virtualisation
should ultimately lead to better customer service at lower costs, which, in turn, will lead to a
lower headcount. Furthermore, the local Rabobanks will make the most of opportunities to
introduce a greater focus in the use of cooperative dividend.
Rabobank International and its subsidiaries have a part to play in the retention of Rabobank's
leading position in the Dutch market. In the rest of the world, Rabobank is looking to present
itself as a cutting-edge and leading food and agri bank. In connection with this, services to
customers of local Rabobanks with international operations will continue to be improved.
The activities of Rabobank International and the subsidiaries need to be sufficiently focused
on the food and agri sector, serve the real economy and be manageable and responsible
from a risk perspective. In addition, the contribution made by different activities to achieving
targets at group level will come under greater scrutiny. Moreover, synergies between different
group entities will be strengthened further.
In the area of investment products, the local Rabobanks have offered their clients the option
of choosing between different providers for many years. As a consequence, Robeco's role
within Rabobank Group has gradually changed. The distribution model for investment funds
will also change on a structural basis owing to the ban on commissions. Partly in the light of
these developments, the strategic options for Robeco have been explored, resulting in the sale
of the asset management subsidiary to Orix in February 2013.
Rabobank Group has a 29% equity interest in Achmea. Achmea is Rabobank's strategic
partner in the area of insurance products.
The social landscape and banking climate are undergoing rapid change. Rabobank employees
will need to adapt to these developments since they represent the bank and can make a
difference. Rabobank needs, and has, employees who endorse the distinctive cooperative
identity and apply it in practice, who feel a sense of commitment to customers and who
continue to work on their professional as well as their personal development. It goes without
saying that employees are expected to act with integrity. Rabobank needs to develop a more
modest pay-and-benefits package that shows greater restraint in some areas, is more in
keeping with other sectors and can count on the support of customers, members and the
community.
Sustainable banking is the standard in the policy pursued by Rabobank. A focus on the long
term and on sustainable economic development, which strikes a balance between prosperity
and well-being, is appropriate for this. Society is demanding greater transparency and
accountability. During the year under review, a programme was launched with the aim of
formulating the details of Rabobank's strategy on sustainability for the coming years, in order
to facilitate the implementation of the updated strategic framework. Four customer promises
and three sustainability themes, which serve as the starting points for this strategy, were
formulated in 2012. The customer promises are:
- all of Rabobank's products and services make a transparent contribution to sustainable
development;
- Rabobank gives priority to sustainable initiatives put forward by members and customers
when providing access to capital, and rewards such initiatives with material financial
incentives;
- Rabobank makes cutting-edge strategic knowledge of sustainability available to customers;
- Rabobank forms networks with customers with the aim of building long-term relationships
and accelerating the pace of sustainable development.
These customer promises were used as a basis for defining three specific central themes:
- accelerate the transition towards global sustainable food agriculture;
- promoting a circular economy;
- strengthen vibrant communities.
13 Strategy
