pwc
Independent auditor's report
To: The General Members Council and Supervisory Board of Coöperatieve Rabobank U.A.
Report on the financial statements 2018
Our opinion
In our opinion:
the consolidated financial statements give a true and fair view of the financial position of
Coöperatieve Rabobank U.A. as at 31 December 2018 and of its result and cash flows for the year
then ended in accordance with International Financial Reporting Standards as adopted by the
European Union (EU-IFRS) and with Part 9 of Book 2 of the Dutch Civil Code; and
the company financial statements give a true and fair view of the financial position of
Coöperatieve Rabobank U.A. as at 31 December 2018 and of its result for the year then ended in
accordance with Part 9 of Book 2 of the Dutch Civil Code.
What we have audited
We have audited the accompanying financial statements 2018 of Coöperatieve Rabobank U.A.,
Amsterdam ('Rabobank', 'the Bank' or 'the Company'). The financial statements include the
consolidated financial statements of Coöperatieve Rabobank U.A. and its subsidiaries (together:
'the Group') and the company financial statements.
The consolidated financial statements comprise:
the consolidated statement of financial position as at 31 December 2018;
the following statements for 2018: the consolidated statement of income, the consolidated
statements of comprehensive income, changes in equity and cash flows; and
the notes, comprising significant accounting policies and other explanatory information.
The company financial statements comprise:
the company statement of financial position as at 31 December 2018;
the company statement of income for the year then ended; and
the notes, comprising the accounting policies applied and other explanatory information.
The financial reporting framework applied in the preparation of the financial statements is EU-IFRS
and the relevant provisions of Part 9 of Book 2 of the Dutch Civil Code for the consolidated financial
statements and Part 9 of Book 2 of the Dutch Civil Code for the company financial statements.
EH44X5NCPJUJ-1288894667-935
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1006 BJ Amsterdam, the Netherlands
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