Corporate governance
Rabobank Group is comprised of autonomous local 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.
Review of corporate governance structure
An internal review of the existing governance structure of Rabobank was started in 2014.
This was prompted by the finding that changing regulations, in combination with a significantly
changing market environment and the introduction of European banking supervision, justify a
critical reassessment of the corporate governance in place at the bank. This internal review is
still in progress at the time of writing, and accordingly no factual results are known as yet.
The contents of this chapter therefore reflect the actual situation of the governance structure as
it continues to exist at the start of 2015. However, Rabobank does not exclude the possibility
that its governance structure may undergo changes in the period ahead. As soon as more
information is available on this, this information will of course be shared with all internal and
external stakeholders of Rabobank.
Corporate governance at a glance
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. The local Rabobanks 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 www, ra bo ba nk.com.
131 Corporate governance
