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 26

Rabobank Bronnenarchief

Annual Reports Rabobank | 2018 | | pagina 28