Report of the Supervisory Board
of Rabobank Nederland
The Supervisory Board experienced 2012 as a turbulent
year. The market showed further decline, not least in the
Netherlands, our home turf. The financial markets
continued to be plagued by uncertainty and customers
were hesitant to apply for loans. Although Rabobank's
earnings were lower than before in this harsh economic
climate, the bank's solvency and liquidity positions
nevertheless continue to be robust. Given the current
market, the Supervisory Board is not unhappy with the
financial performance for 2012. Expectations for 2013 are
in keeping with those of the Executive Board. Rabobank is
one of the strongest banks in the world.
Proposal to the General Meeting
Corporate governance
Supervisory Board of Rabobank Nederland
In accordance with the relevant provisions of the Articles of Association of Rabobank
Nederland, the Supervisory Board has reviewed the annual report and the financial
statements for 2012 of Rabobank Nederland and of Rabobank Group, and any annexed
information. The Supervisory Board discussed these documents with the Executive Board,
the internal auditors and Ernst Young Accountants LLP, the external auditors, and took
note of the unqualified external auditor's report that Ernst Young Accountants LLP issued
on the financial statements 2012. The Supervisory Board would ask the General Meeting of
Rabobank Nederland to adopt the financial statements 2012 and the proposed profit
appropriation.
The three pillars of governance at Rabobank Nederland are decisive management, effective
member influence, and strong and independent supervision. The section on corporate
governance in this Annual Report describes the corporate governance structure at Rabobank
Nederland and the bank's compliance with the Dutch Corporate Governance Code. An extensive
account of how the provisions of the Dutch Banking Code have been and are being applied is
given in the section on the Dutch Banking Code, which explains that Rabobank endorses
these provisions for good governance in the financial sector. The Supervisory Board agrees
with what has been described in these two chapters.
The members of the Supervisory Board have been listed in the chapter'Management'.
The profile for the Supervisory Board has been posted on the corporate website. The section
on corporate governance describes the duties and responsibilities of the Supervisory Board
and its role in Rabobank Nederland's governance structure. In performing its duties, the
Supervisory Board focuses on the interests of Rabobank Nederland and its affiliated entities,
also taking account of the interests of stakeholders and aspects of corporate social
responsibility that are relevant to Rabobank.
98 Annual Report 2012 Rabobank Group
