About this
Report
Chairman's
Foreword
Corporate
Management Report Appendices Governance
Consolidated Financial Company Financial
Statements Statements
The bank's transformation has been underway fora while, but
since we decided to adopt a new operating model in the
Netherlands, momentum has been picking up throughout the
organization. In each stage of adapting to meet our customers'
expectations, careful attention is paid to risk mitigation to ensure
flawless customer service throughout the entire transition.
As part ofthe process of redesigning and implementing our
operating model to fit the present day, Rabobank has also been
investigating its members' expectations of a modern meaningful
cooperative. Research conducted in 2018 will change our
approach to members in 2019 but maintaining a constructive
dialogue will remain a central feature.
Derivatives
In March 2016, the Dutch Minister of Finance appointed an
independent committee, which published a recovery framework
(the Recovery Framework) on the reassessment of Dutch SME
interest rate derivatives on July 5, 2016. Rabobank announced its
decision to take part in the Recovery Framework on July 7,2016.
The final version ofthe Recovery Framework was published bythe
independent committee on December 19, 2016. With respect to
the (re-)assessment ofthe interest rate derivatives of its Dutch
SME business customers and the advance payments already
made, at year-end 2018 Rabobank recognized a provision of 316
(2017:450) and has provided all qualifying clients clarity on the
remuneration ofthe reassessment of their interest rate
derivatives. In 2018, Rabobank's payments to clients under the
Recovery Framework amounted to EUR 184 million.
Fair Finance Guide
Rabobank's investment policy performance is measured bythe
fair finance guide. The table below provides some examples of
our results.
Fair Finance Guide
2018
2016
2015
Human rights
8
8
8
Climate change
5
3
5
Labor rights
9
9
9
Remuneration
3
5
4
Corruption
8
8
Food
8
6
7
Fisheries
6
6
7
Financial sector
3
3
3
Transparency and accountability
5
5
6
Gender equality
2
4
Annual Report 2018 - Management Report
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