website. As DLL does not publish an annual report of its own, reporting on the application of
the Banking Code at DLL has been consolidated in this Annual Report. Considering the Group-
wide policy on risk management, audit and remuneration, DLL complies in full with the relevant
provisions of the Banking Code. The composition and modus operandi of the Supervisory Board
of DLL reflect the fact that DLL is a wholly owned subsidiary of Rabobank Nederland. Where the
Banking Code refers to the Executive Board and the Supervisory Board, this accordingly relates
to the bodies of Rabobank Nederland and therefore not to the Executive Board and Supervisory
Board of DLL.
Rabobank: customer interests and risk management as guiding principles
Rabobank naturally endorses the Banking Code and it believes the Code is an important
guideline for the sector to improve the organisation and operation of internal functions.
Client centricity
Rabobank places customer interests at the heart of its service provision to its customers. It is
Rabobank's ambition to provide customers with the best possible service, while exercising due
care and treating them fairly. This has been enshrined in the Rabobank Group Code of Conduct
and the Rabobank Mission Statement. Rabobank has a cooperative structure with autonomous
banks. As every local Rabobank has established a Members Council, customers have influence
and a voice regarding the course of the Local Rabobank. The central policy that is proposed and
implemented by Rabobank Nederland is only implemented after being approved by the
permanent representatives of the local Supervisory Boards and the local boards of directors.
Rabobank's unique cooperative governance is described in greater detail in the chapter on
Corporate Governance.
The line organisation has been tasked with treating customers fairly. A steering committee
monitors whether customers' interests are continually well served. Monitoring is done by
reference to a number of key principles. The principles for client centricity were redefined in
2014 and correlated to the ambitions of the line organisation. The principles are as follows:
Trust is the basis for everything we do. We win trust by delivering on our promises, by
listening and improving and treating customer information with discretion.These values are
part of our culture.
Rabobank carries a clearly structured range of transparent products and services, with fair and
transparent pricing. Only products that meet a need on the part of our customers are carried,
and an assessment is carried out before customers purchase a product to ascertain whether
that is in fact in their interest. Our customers should have to spend a minimum of time and
effort as possible on day-to-day banking matters.
Our advice is appropriate. Knowledgeable employees base their advice on the customer's
financial position, risk appetite, and knowledge and experience. We use service channels that
are tailored to the customers' preferences.
Sustainable customer relationships call for customer-focused management, based on the
customer's wishes and interests. We help our customers to gain financial insight, for now and
for later.
Periodic management information is drawn up on the basis of these principles and is
continually managed for improvement.
A balanced set of performance targets is formulated for everyone working at Rabobank, with
'treating customers fairly'and 'cooperation'as mandatory elements in the PM system. A
sufficient focus on the customers' interests is a precondition for a favourable evaluation for
employees. Rabobank uses management and compliance reports to monitor the quality of
customer service and customer care on an ongoing basis.
Annual Report 2014 Rabobank Group
