Report of the Supervisory
Board of Rabobank Nederland
2013, a turbulent year
2013 can be described as a turbulent year.This turbulence occurred not
just outside but inside the Rabobank organisation as well during the year.
The Libor case understandably elicited a wide range of emotions. The year
2013 was also a year for Rabobank in which, partly on the basis ofVision 2016,
numerous developments were initiated.The Supervisory Board is confident
that these developments, centred on virtualising, advising and participating,
will clearly contribute to distinctive cooperative customer services delivered
by contemporary local Rabobanks that treat customers fairly based on the
core values of respect, integrity, professionalism and sustainability.
Proposal to the General Meeting
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 2013 of Rabobank Nederland and of Rabobank Group, and the other information added
thereto. The Supervisory Board discussed these documents with the Executive Board, the
internal auditors and Ernst Young Accountants LLP (EY), the external auditors, and took note
of the unqualified external auditor's report that EY issued on the financial statements 2013.
The Supervisory Board would ask the General Meeting of Rabobank Nederland to adopt the
financial statements 2013 and approve the proposed profit appropriation.
Corporate governance
The three pillars of corporate governance at Rabobank Nederland are decisive management,
effective member influence, and strong and independent supervision. The chapter on corporate
governance in this Annual Report describes the 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.
Supervisory Board of Rabobank Nederland
The members of the Supervisory Board in office on 1 March 2014 are listed in the chapter
'Management' in this Annual Report.The profile for the Supervisory Board has been posted on
the corporate website.The section on corporate governance in this Annual Report 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, taking account of the interests of stakeholders
and aspects of corporate social responsibility that are relevant to Rabobank.
124 Annual Report 2013 Rabobank Group
