Contents Introduction Management report Appendices Corporate governance Consolidated Financial Statements Company Financial Statements
Investing in self reliance
Social reinvesting of our net profit
An integral part of the Rabobank ethos is the cooperative
dividend, which is the portion of our profit that is reinvested
back by local Rabobanks into the community.These are funds
from Rabobank entities that are used for projects and activities
which benefit society. Local Rabobanks allocated an amount
of EUR 45 (2016:40) million from their net profit for future
investments in local community initiatives in the Netherlands.
The projects are chosen by members of the local Rabobanks
and the dividend is allocated across a wide spectrum of projects
throughout the Netherlands.
It demonstrates that Rabobank does more than just provide
banking services. In 2017, local Rabobanks supported 14,206
social initiatives, of which 72 were specific new collective local
community initiatives in the Netherlands, with both a social
and an economic purpose. These collective initiatives consist
of local renewable energy cooperatives, local civil healthcare
collaborations and fibre optic internet projects.
In 2017, investments in social initiatives as a percentage of our
net profit totalled 2.5%, down from 2.9% in 2016. Our KPI target
for these investments is 3%.
Jacques Diouf Award
We are very proud that the independent Rabobank
Foundation received the FAO's international Jacques Diouf
Award in 2017. The FAO Awards are an initiative of Food
and Agriculture Organization of the United Nations and
are presented annually. Recipients include individuals,
institutions and organisations that make a substantial
contribution to resolving the global food issue.
The Rabobank Foundation was presented with the award
for its efforts to support and economically strengthen
small farming communities in developing countries.
Receiving the award is a recognition of the Foundation's
many years of work and its dedication to this cause.
KPI: We support social initiatives in the communities in which
we operate with manpower, knowledge, networks and facilities
and we invest the equivalent of 3% of our annual profit in social
initiatives on a not-for-profit basis through the Rabobank Group
and the independent Rabobank Foundation.
2017 2016 2020 target
Community not-for-profit
investments (in of profit) 2.5% 2.9% 3%
Rabobank Foundation
On average around 0.5 percent of the local Rabobanks net
profits is invested in providing funds for Rabobank Foundation.
Rabobank Foundation is an independent foundation and
its financials are not included in the consolidated figures
of Rabobank. Rabobank Foundation's mission is to invest in
people's self-sufficiency. In the Netherlands, they focus on social
entrepreneurship, employability and financial self-sufficiency.
Internationally the Rabobank Foundation supports small-scale
farmers and their cooperatives. Rabobank's collaboration
with Rabobank Foundation contributes to our Banking for the
Netherlands and Banking for Food strategies by supporting
social projects that boost vulnerable groups'participation
in society. Through 51 project partners in the Netherlands,
the Rabobank Foundation helped 619,565 people in 20161.
Rabobank Foundation supported 260 initiatives abroad in the
year 2017. For more information see https://www.ra bo bank,
com/en/about-rabobank/in-society/rabobank-foundation/
rabobank-foundation-news/2017/20170222-satellite-data-kev-
resource-in-financina-food-securitv.html
Community not-for-profit investments
in millions of euros 2017 20162
Cooperative dividend 38.9 36.8
Donation from Rabobank and other Group
divisions 6.6 6.5
Rabobank Foundation (in the Netherlands and
abroad) 20.1 15.8
Other 0.3 0.4
Total community funds and donations 65.9 59.6
KPI: By 2020, we will be supporting 1,000 cooperatives and other
member organisations in achieving business success, including
500 in the Netherlands and 500 in developing countries.
2017 2016 2020 target
Collective local community initiatives
as declared by local Rabobanks
(cumulative)
Total supported by Rabobank in the
Netherlands
Collective local community initiatives
supported by Rabobank Foundation
(in the year)
Total number supported by Rabobank
abroad
175 103
175 103
260
278
n/a
500
n/a
260 278
1 2017 data is not yet available.
2 The 2016 figures have been restated due a change in methodology.
Rabobank Annual Report 2017 - Management report
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