Corporate governance
Rabobank Group is comprised of autonomous local member Rabobanks;
their central organisation, Rabobank Nederland, and a number of specialised
subsidiaries. As a bank that uses its customers' interests as the basis for its
day-to-day actions, Rabobank aims to provide the most appropriate financial
services for all. Its structure as a cooperative organisation facilitates a long-
term approach to customer relationships, with Rabobank looking to invest
sustainably in direct involvement with its customers and their environment.
The local Rabobanks are Rabobank's core entity - they are autonomous cooperatives rooted in
their local communities, whose aim is to contribute to economic development in their service
areas. The local Rabobanks, for their part, are members of and shareholders in the cooperative
Rabobank Nederland. They are divided across twelve regions, known as Regional Delegates
Assemblies. Each of these Regional Delegates Assemblies has a Board, whose members are also
members of the Central Delegates Assembly. The latter is a body of Rabobank Nederland which
plays a key role in policymaking. The members of the Central Delegates Assembly consist of the
Regional Delegates Assembly Boards, the majority of whom are appointed by members of the
local Rabobanks.The local Rabobanks collectively make up the General Meeting of Rabobank
Nederland, whose responsibilities include appointing the members of the Rabobank Nederland
Supervisory Board.
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
Although Rabobank Nederland, due to its cooperative structure, is not required to comply with
the Dutch Corporate Governance Code, it does do so on a voluntary basis. It departs from the
Code in just several minor areas, partly on account of its cooperative structure. For additional
information, please refer to the corporate website.
Dutch Banking Code
The Banking Code for Dutch banks was adopted by the Board of the Dutch Banking Association
in 2009, expanding on a report titled 'Naar herstel van vertrouwen' (Restoring trust) authored by
the Advisory Committee on the Future of Banks. Rabobank Nederland's governance is in
compliance with the Dutch Banking Code. For additional information about Rabobank's
compliance with the Code, please refer to the chapter titled 'Dutch Banking Code' in this Annual
Report and a separate appendix to this Annual Report on the corporate website.
Rabobank Group Code of Conduct
The Rabobank Group's values and standards are determined by its four core values: respect,
integrity, professionalism and sustainability.These core values are based on its mission statement
and Ambition Statement. The Rabobank Group Code of Conduct expands on the core values
and contains the basic principles for the behaviour of all Rabobank Group employees.
113 Corporate governance
