32. Events After the Reporting Period
About this
Report
Chairman's
Foreword
Corporate
Management Report Appendices Governance
Consolidated Financial Company Financial
Statements Statements
On 15th January 2019 the British Parliament voted against the
Brexit deal. Although Rabobankstill believes that ultimately a hard
Brexit will be avoided, the uncertainty has grown during the first
months of 2019. Rabobank monitors the potential impact of
Brexit and has prepared contingency plans on the basis of
scenario analysis. As per the UK regulator PRA guidance, and to
continue its banking activities in the UK post-Brexit, Rabobank
submitted a Third Country Banking License application to the
PRA/FCA and is actively engaged with home and host regulators
(ECB, PRA and FCA) on the topic of Brexit preparedness. In the
scenario of a hard Brexit, Rabobank expects a limited increase of
the loan impairment allowance, as Rabobank's exposure to the
UK is modest. Indirect effect ofa Brexit could be negative for the
Dutch economy as the UK is an important trade partner of the
Netherlands.
In 2018 the Managing Board of Rabobank committed to a plan
to sell part of its non-strategic business in the segment WRR. At
December 31,2018, a sale was not considered highly probable.
At March 13, 2019, Rabobank is in the process of negotiating a
transaction.
Annual Report 2018 - Company Financial Statements
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