Contents Management report Corporate governance Consolidated financial statements Financial statements Pillar 3
and a single set of financial statements. The unanimous support
from the local Rabobanks reflects the broad consensus within
the cooperative for this development.
Strategic Framework 2016 - 2020
Within the cooperative, there was also widespread support
for the strategic direction we set out for the period up to
2020. We focus determinedly on three priorities: excellent
customer service, a stronger balance sheet and flexible use of
the balance sheet, and an improvement of the financial results.
As a customer-focused cooperative bank, it is our mission to
make a substantial contribution to welfare and prosperity in
the Netherlands and to feeding the world sustainably.Through
the vision set out in Banking for the Netherlands and Banking
for Food we substantiate our position as a social, cooperative
bank.
With this new strategic direction, Rabobank continues to
respond to social developments, such as changing consumer
behaviour, technological developments, financial innovation,
increased competition, a complex economic context and
more stringent capital requirements. By implementing these
structural changes and strategy in view of these changes,
Rabobank purposely fosters a cooperative customer service
model. Considering societal developments, we believe there is
a permanent and significant need for a bank organised along
cooperative lines. In 2015, Rabobank supported more than
1,600 local, relevant socially responsible initiatives.
Enhanced customer focus and closer to the customer
Rabobank is strengthening its position as the bank that
is closest to the customer and aims to be a meaningful
cooperative that is successful in the long term for members,
customers, employees and the society in which the bank
operates. Providing excellent customer service through our
financing offering, knowledge and our network is central to this
policy. In 2015, we conducted promising experiments with 'new
customer proximity'. The majority of our customers are granted
a mortgage interview within 24 hours. Over the next year,
Rabobank will invest in several new forms of contact points, in
addition to the existing bank branches.This will include mobile
helpdesks, pop-up stores and advice at home.
Stimulate entrepreneurship
Being the largest financier of businesses in the Netherlands,
Rabobank wants to contribute to stimulating entrepreneurship.
The emphasis of our services to businesses will shift towards
the role of financial linking pin. With this in mind, we entered
into cooperation with the Fundipal crowdfunding platform in
2015. Furthermore, Rabobank frequently acts as a broker for
institutional investors who are interested in investing in our
Dutch food and agri clients. From 2015 onwards, businesses
which want to check whether their funding plans are realistic
can use the funding indicator at www.rabobank.nl. In 2015 we
introduced a new online environment for corporate banking
for our large corporates and wholesale clients: Rabo Corporate
Connect. Via this portal, they have access to their accounts,
payments and an overview of interest and currency positions,
price information and other relevant knowledge.The platform
is meant for customers who are located in the Netherlands, are
internationally active or have complex product requirements.
Rabobank is the first major Dutch bank to provide financial
insight and an overview on a single corporate customer
platform.
Banking for Food
With our Banking for Food programme, we want to contribute
to sustainably feeding the world's population. Various food
and agri sectors have experienced further consolidation in the
supply chain; Rabobank has actively supported customers with
advice and financing solutions. With our clients and partners,
we are working internationally on the four dimensions of
food security: improving the availability of food; improving
access to food; stimulating balanced, healthy nutrition; and
enhancing the stability of food production. Both Wholesale and
International Rural and Retail banking have further increased
customer satisfaction. We offer global food chains financing,
knowledge and our networks, supported by Rabobank
Foundation and Rabo Development. More than 2 million small
farmers have a future thanks to access to financing, knowledge
and networks via Rabobank Foundation and Rabo Development.
Loss of jobs
As a result of ongoing improvement programmes, the number
of employees decreased to fewer than 52,000 (in FTEs) in 2015.
The local Rabobanks in the Netherlands saw a decline in
the number of staff. In view of the envisaged performance
improvement, all the business units will implement efficiency
improvements. In the period 2016-2018, the number of jobs
will decrease by 9,000 mainly in the back office and the
supporting services of the bank. This reduction will take place
in addition to the existing programmes under which 3,000 jobs
will be lost in 2016.The reduction of jobs is, on the one hand,
a consequence of strategic prioritisation and on the other hand,
oftechnological developments.
3 Chairman's foreword
