Contents Introduction Management report Appendices Corporate governance Consolidated Financial Statements Company Financial Statements
Strategic cornerstones
With our knowledge, networks and finance, we strive to enable
customers to make autonomous decisions and to act with
flexibility and independence. We want customers to feel
confident, be themselves and feel they belong. Our strategy is
founded on four cornerstones: excellent client focus, meaningful
cooperative, rock-solid bank, and empowered employees.
These four cornerstones permeate all of our actions, priorities,
key performance indicatore (KPIs), values and behaviors.
Four cornerstones
Excellent customer focus
We aim to be a leading bank in which being client-driven is
deeply embedded. Current and future client requirements can
be fully satisfied through good advice, transparent products
and digital, convenient and innovative services.
Meaningful cooperative
We translate social developments into specific contributions
for the long term. Cooperative banking means acting as a
forward-looking social compass that actively involves members,
employees and customers and connects them in a network,
with each other and with Rabobank. We take a stand on social
issues that matter to our clients and stakeholders.
Empowered employees
Our employees are proud and driven, manifesting
professionalism, vitality and a capacity for change. They feel
empowered to represent Rabobank and are inspired by what
we want to be. Top talent wants to work, develop and stay at
Rabobank. All our employees want to grow and make each
other better. Learning is the key.
Rock-solid bank
Rabobank remains a model of stability, reliability and solidity.
Our services are delivered efficiently at competitive cost levels
and we are continuing to optimise the balance sheet. We are
doing the right things well, or even exceptionally well, with
everyone taking ownership, remaining conscious of risks and
operating as professionals.
Key trends and developments
Every year we analyse external trends and developments that
affect our work. In the year 2017 we saw many trends in terms
of consumer behaviour, technology, innovation, market players,
regulations, the economy and society. All these ongoing trends
and developments present a number of opportunities and
challenges for Rabobank and its customers.
Our conclusions in a nutshell:
Client preferences are changing rapidly and significantly.
Digital interaction is increasingly replacing face-to-face.
Therefore we are investing in the quality of our (digital)
services and in further innovation to improve client
services. Client preferences are also driving changes in the
online distribution of goods, including food, with a high
impact in food and other chains. In the Food Agri sector
the consumer's influence is growing; 'from farm to fork'is
becoming 'from fork to farm'.
Technology is leading to significant innovation and
disruption.This calls for a proactive, efficient client approach
and provides us with opportunities to combine online
services with personal attention. Our clients see the arrival of
technology impacting their businesses as well - varying from
the arrival of drones at the farm to use of data for all of our
customers.
To meet customer needs, we will proactively monitor
innovations in, and related to, the financial (fintech) and
agribusiness (agtech) industries and we will enter into
strategic partnerships.
New players in the financial industry like financial start-ups
pressure us to critically evaluate how we do business.
Driven by the current economy, low interest rate environment
and other factors mean that we must continue to operate on
a cost-effective basis and improve our cost -to- income ratio.
There is ample opportunity to further leverage our research
and sector knowledge and national/international network
to the benefit of our customers and environment. In our
international Food Agri activities the international trade
including growth of a middle class in emerging countries
create opportunities by linking regions.
Regulators and new regulation and legislation (such as the
recently announced reforms to the Basel III accords) are
having a growing impact on the ways banks can provide their
services which influences our business model.
Global population growth, ageing and the growing middle
class will change demand for food in both volume and
qualityterms. This will bean important driver of growth for
our clients serving the world of food and we will continue to
support them.
Climate change is a bitter reality. Despite the intentions
and ambitions of the Paris climate agreement, the world
is warming up, posing risks for the environment and the
food security of people and communities. We use the UN
Sustainable Development Goals as guidelines in our efforts to
reduce hunger and poverty in the world.
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