E
Bas Brouwers
Our performance
Member of the Managing Board
and Chief Financial Officer
IT
Delivering on objectives
I look back on 2017 as a year in which
we made tangible progress in executing
our strategy, delivering on the objectives
of optimising the balance sheet and
improving performance. As a bank we
carefully monitor the changes in our
environment, especially trends in client
behaviour, stricter regulatory requirements
and new, highly digital, competition.
Rabobank responded to these changes
by formulating the Strategic Framework
2016-2020.
We succeeded in relieving our capital and
funding requirements not only by selling
some mortgage portfolios but also by
conducting risk-sharing transactions for
our SME and corporate book. In addition
we strengthened our capital base with
healthy earnings, supported by the
issuance of Rabobank certificates. Another
noteworthy event was the first-ever
issuance of Covered Bonds. After issuing
Green Bonds for the first time in 2016,
this marked an important next step in the
diversification of our funding mix.
Looking to the future, we have been
proactively preparing for the Basel III
reforms. As I have stated before: the new
capital floors are disproportionate for
banks with risk profiles similar to ours. The
final outcome of the latest reforms to the
Basel III framework still depends how it is
implemented in the EU where some relief
or a carve-out for specific asset classes may
be provided for. Despite this uncertainty,
we are taking the appropriate measures
to ensure Rabobank remains a rock-solid
bank after Basel IV becomes effective.
For me personally, 2017 was my second
year as CFO. Driven by the dynamic
world around us the Finance function has
great potential to add more value for our
business by further leveraging our wealth
of data and increasingly applying powerful
technologies like robotics process
automation and advanced analytics. I am
competitive by nature, and that gives me
lots of energy to drive this change and
reach the next level with my team. Getting
to know the broader social purpose of our
cooperative bank, since I started has been
a very enriching experience.
This was the year we stood up and publicly
linked our performance to a higher
purpose: Growing a better world together.
Combined with our tangible progress in
strengthening our strategic pillar'Rock-
solid bank', we are uniquely positioned
to deliver on that mission. For me, it is a
privilege to contribute.
